Why it matters: The American Medical Association (AMA) has created new codes for psychedelic therapies, coinciding with the FDA’s review of MDMA as a prescription drug for PTSD treatment. These codes aim to standardize and provide coverage for psychedelic treatments, making them more accessible to individuals who currently struggle to afford them.
What they are saying: MAPS released the findings of its Phase 3 Trial, which showed the effectiveness of MDMA-assisted therapy in treating PTSD. The study found that 72% of participants in the MDMA group no longer met the criteria for PTSD, compared to only 48% in the placebo group. MAPS CEO, Amy Emerson, emphasized that these new codes are an important step forward in preparing for potential FDA approval of MDMA-assisted therapy.
The big picture: The implementation of these codes could pave the way for insurance coverage and reimbursement for psychedelic therapies, making them more affordable and accessible to individuals with PTSD. If approved, MDMA would be the first FDA-approved psychedelic for a mental health condition.
What to watch: The FDA will evaluate an application submitted by MAPS for MDMA-assisted therapy, with a decision deadline in mid-February. If approved, the FDA would need to complete its evaluation within six months. Additionally, the effectiveness of the CPT III codes in standardizing and supporting the accessibility of psychedelic therapies will be important to monitor.
My take: The creation of these codes is a significant development that may reduce the financial barrier to accessing psychedelic therapies. If approved, this could be a groundbreaking step in expanding treatment options for individuals with PTSD. It will be interesting to see if other psychedelic substances, such as psilocybin, gain similar recognition and approval in the future.
