With rising inflation and economic uncertainty, unfortunately, some couples are skipping therapy to save money. There is a good article in the Wall Street Journal discussing this difficult situation. My bottom line is that therapists need to work with clients that are having a difficult economic time. Economic stress merely compounds so many other issues. Here are a few major points made by this article.
- U.S. inflation has been rising at the fastest rate in four decades. Many are putting off therapy sessions or forgoing them altogether.
- Nearly a third of American adults in therapy say they have had to cancel a session because they couldn’t afford it and nearly half say they would have to quit if their out-of-pocket costs increased.
- Healthcare spending was down 7% in July from September of the year prior.
- People are experiencing more stress, there’s an exacerbation of chronic illness, they are having sleeplessness, they’re using more substances.
- Many therapy providers say they are largely unaffected by inflation-driven dropouts thanks to wait lists that have amassed throughout the pandemic.