How much a therapist makes in Colorado and elsewhere depends on several different factors — including license type. Insurance payers typically set different reimbursement rates depending on a therapist’s license. Educational background can play a role, too. For example, psychologists have doctoral-level degrees, so they’re often reimbursed more than MA-level clinicians like counselors and social workers.
Different license types can also have different scopes of practice, which may impact reimbursement rates. For example, psychologists can conduct assessments along with providing therapy, while MA-level clinicians tend to focus on therapy alone. Other factors, such as market demand for a certain type of therapist in a particular area, can also play a role in how much insurance pays.
Based on the most recent data from the Bureau of Labor Statistics, annual salary ranges for some of the most common therapist license types in Colorado are:
- Licensed professional counselor (LPC): $48,270–$94,370
- Mental health social worker: $46,350–$85,310
- Licensed marriage and family therapist (LMFT): $43,750–$126,700
- Licensed psychologist: $69,010–$150,770
- Psychiatrist: $92,630–$240,000 and up
How much do therapists make per hour in Colorado?
When you break down annual salary ranges into average hourly pay, most therapists in Colorado who take insurance earn somewhere between $21 and $60 an hour, depending on factors like license type, experience, and work setting. Psychologists and psychiatrists may set hourly rates beyond those average ranges.
That said: Most therapists don’t view their pay as hourly, since they’re typically billing insurance. Many therapists also don’t conduct therapy for 40 hours each week, and hourly wages need to account for tasks like documentation, supervision, or other administrative work. Private practice providers also consider overhead costs, insurance reimbursement rates, and how many billable sessions they do each week to estimate true hourly income.
Think of it this way: For hourly rates, the dollar amount refers to what providers receive when they get individually credentialed with certain insurance plans. Headway simplifies the credentialing process, allowing you to focus on your clients’ needs instead of time-consuming admin tasks.
