“This initial success with insurance coverage of ketamine is promising for the future of psychiatry because it sends a strong signal that payors are interested in more effective treatments for mental health conditions as supporting research emerges,” said Dr. Preliminary evidence suggests that when ketamine intervention is enhanced with therapeutic support, it may produce enduring benefits across a range of mental health disorders.1 While most insurance companies cover psychotherapy portions of this treatment, when used “off label” for psychiatric disorders, coverage for ketamine has typically been less common. Novamind administers ketamine in conjunction with psychotherapy, also known as ketamine-assisted psychotherapy. Ketamine has been safely used as an FDA approved anesthetic since 1970 and has found use in psychiatry to treat conditions including TRD. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to announce that it has obtained approval for direct billing of intravenous (IV) ketamine for treatment-resistant depression (TRD) from four major health insurance providers: Blue Cross Blue Shield, the University of Utah, PEHP Health & Benefits and MBA Benefit Administrators. TORONTO, ON / ACCESSWIRE / Novem/ Novamind Inc.
Visit more information.Novamind Secures Insurance Coverage for Ketamine from Four Major Payors Blue Cross added to list of insurance companies covering IV ketamine treatments at Novamind The MindMed executive team brings extensive biopharmaceutical experience to MindMed’s approach to developing the next generation of psychedelic-inspired medicines and therapies. The Company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including psilocybin, LSD, MDMA, DMT and an ibogaine derivative, 18-MC. MindMed is a clinical-stage biotech company that seeks to discover, develop and deploy psychedelic-inspired medicines and therapies to address mental health and addiction. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. To learn more about Novamind’s clinical research division, visit this link.
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The LSD Clinical Trial is expected to move through a series of key milestones over the coming months to prepare for enrollment and patient dosing. Our team continues to build on Novamind’s reputation as an industry leader in clinical research for psychedelic medicine, and we are proud to be a trusted partner for this important work.” Yaron Conforti, CEO and Director, Novamind, commented, “We’re excited to host MindMed’s historic clinical trial, and to contribute to advancing LSD towards FDA approval. Working with companies like Novamind who have experience running clinical research sites for Schedule I substances will be critical to the quality and success of this trial.” Jamie Freedman, Director of Clinical Operations, MindMed, said: “We’re pleased to have finalized our site selection process.
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