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.
1 Can diagnose and treat a number of mental health disorders, providing psychological counseling, in one-on-one or group settings. 2  Cannot prescribe medication unless he or she is licensed to do so.  May work with another provider who can prescribe medication if needed.