Psychology, the stalwart profession, faces new challenges and opportunities.

Psychology emerged as a profession following World War II, seemingly out of nowhere and against all odds, through the sheer grit and determination of its early clinical psychology doctoral pioneers, who recognized the economic importance of licensure and third-party reimbursement. After 2 or 3 decades of prosperity in which psychology became the nation's preeminent psychotherapy profession, professional psychologists ignored warnings of impending managed care and the biomedical revolution and have suffered an unfortunate decline in income. Once again healthcare is confronted with double-digit inflation, and draconian reimbursement measures are being put into place that will impact psychological practice. Practicing psychologists need to heed these harbingers and deflect their negative effects while taking advantage of their potential opportunities. (PsycINFO Database Record (c) 2010 APA, all rights reserved)