Psychiatrists are qualified medical doctors who have completed additional years of training as a psychiatrist. As a physician, drugs can be prescribed. Psychologists complete a bachelors degree in psychology, followed by Master’s or Doctoral degree (Ph.D.) in psychology. The doctoral degree includes a 12-month internship, typically in a hospital setting. Practically, both psychiatrists and psychologists deal with most clinical issues; however, psychotic illnesses, which includes schizophrenia and severe mood disorders are treated primarily by psychiatrists as medication is usually involved in therapy.