Online Licensed Mental Health Counselor: Market Analysis

Goals

To provide an overview of online licensed mental health counseling, including the types of patients demanding the service, evidence of the growth of subscription-based psychotherapy services, the typical pricing structure of the practice (if they are offered as a bundle), discounted services for Veterans, disabled Veterans and/or senior discounts, the expected profit percentage by the clinic, and the average profit margin for licensed mental health clinics.

Early Findings

Types of Patients Demanding the Service

  • According to Better Help, mental health counselors help with issues such as physical illness, loss, and relationships.
  • They also take care of more specific patients such as those that help individuals coping with anxiety and depression, bipolar disorder, parenting, addiction, and marriage counseling.
  • Their services can also be tailored to different demographics, such as the elderly and children. Mental health counselors also work with individuals, families, groups, and communities to deal with mental health issues and improve mental well-being.
  • Some of the key reasons why people seek the services of mental health counselors include;
    • Repeated, uncontrollable thoughts, or memories related to a recent traumatic experience.
    • Intense and unmanageable life conditions.
    • Lack of interest in people around you and once interesting things.
    • Substance abuse.
    • Overwhelming anxiety.
    • Relationships challenges.

Growth on Demand for OLMCH

  • According to the United States Bureau of Labor Statistics, "the demand for mental health counselors will grow at a rate faster than the average for all occupations."
  • The labor Bureau opined that the demand for substance abuse, behavioral disorder, and mental health counselors will grow by 22% by 2028.
  • The increased need for mental health counselors will be highest in fields that deal with substance abuse and serve military veterans.
  • Due to the COVID-19 pandemic, teletherapy is increasingly the preferred medium for mental health counseling between patients and therapists.
  • According to the Centers for Disease Control, in the last week of March 2020, telehealth visits increased by 154% when compared to the same timeframe in 2019.
  • Because remote delivery of mental health services has worked so well during the pandemic, clients and therapists express their willingness to continue online therapy even as social distancing restrictions ease.
  • Another factor propelling the demand for online mental health counselors is the widespread popularity of technology, in the form of laptops, notebooks, smartphones, and an array of interactive applications.
  • In the United States, about one in four adults are experiencing mental illness at any given time, and research shows that close to 50% of adults will have at least one mental illness during their lifetime.
  • The prevalence of mental health problems highlights the increased demand for qualified professionals to diagnose, treat, and prevent mental health issues.
  • The societal costs of mental health issues are growing increasingly high as well. Studies show that the economic burden of major depressive disorder (MDD) is around $210.5 billion a year.

Summary

  • The initial research hour provided insights into the types of patients demanding the services of an online licensed mental health counselor and evidence of the growth of subscription-based psychotherapy services.
  • For a better understanding of some critical aspect of online mental health counseling such as the typical pricing structure of the practice (if they are offered as a bundle), discounted services for Veterans, disabled Veterans and/or senior discounts, and whether the service is offered as a single service, or as a bundle, we recommend looking into online mental health service providers in Fort Lauderdale and Florida at large if enough information is unavailable for the city.
  • Such service providers will provide an overview of the service in the city and the state in general and a deep dive into the current state of the industry.

Research proposal:

Only the project owner can select the next research path.
Need a similar proposal? Let's launch your next project!