Tangible vs Intangible Cost. The difference between tangible and intangible cost is often subtle but can have great consequences for a company. People sometimes look at tangible costs only overlooking or ignoring intangible costs for which they pay dearly later in life.
A second important distinction between the two careers is that psychiatrists can prescribe medications, while in most states psychologists cannot. However, there has been a recent push to grant prescribing powers to psychologists.
A medical professional must evaluate the patient for any medical problems or diseases that may be the cause of the mental illness. Historically psychiatrists have been the only mental health professional with the power to prescribe medication to treat specific types of mental illness.