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.
In mainstream mental health, medication is an important ingredient in treatment of mental illness. Although the family doctor can prescribe medications, a psychiatrist is more familiar with the wide range of psychiatric medications, how to use them in combination, and how to manage their side effects.(3).