A big difference is that it is cheaper for insurance companies to pay for Lcsw's than it is to pay a psychologist. So it is important for the Psychologist to to do psych testing which requires a Doctorate. A Bachelors in social work allows you to do case management. If you have a bachelors in psychology really all you can do is case management. A Lcsw allows you to do therapy as well as having training in referring and finding community resources.

T have discussed this a bit because of my daughter planning to study to be an LCSW