HomeMarket NewsSmall Caps AMA's Game-Changing Reimbursement Codes for Psychedelic-Assisted Therapies AMA's Game-Changing...

AMA’s Game-Changing Reimbursement Codes for Psychedelic-Assisted Therapies AMA’s Game-Changing Reimbursement Codes for Psychedelic-Assisted Therapies

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The American Medical Association’s recent activation of the current procedural terminology (CPT) III codes marks a significant milestone for FDA-legalized psychedelic-assisted therapies, presenting an impactful stride for physicians and other qualified healthcare providers.

These temporary codes, designed to boost reimbursement and foster accessibility to psychedelic therapies in the U.S., signify a landmark development in medical coverage.

The data gathered through the use of the new CPT III codes could prove instrumental in their potential transition to permanent CPT I codes, further fortifying their value for widespread coverage and reimbursement in healthcare.

The unveiling of these codes in July 2023, was a joint effort by the for-profit entity of the illustrious Multidisciplinary Association for Psychedelic Studies (MAPS PBC) and biotech firm COMPASS Pathways (CMPS).

AMA’s acceptance of the new CPT III codes application in March 2023, featuring the initial β€œContinuous In-Person Monitoring and Intervention during Psychedelic Medication Therapy” code (0820T), and two additional modifiers (codes 0821 and 0822), is a pivotal leap forward for the healthcare industry.

Notably, both companies have conducted groundbreaking research on MDMA therapy for PTSD treatment and psilocybin therapy for Treatment-Resistant Depression (TRD), respectively, underscoring the immense potential of psychedelic-assisted therapies.

Given MAPS PBC’s recent submission to the FDA for MDMA administration coupled with psychological intervention, the potential approval of this novel investigational approach could pave the way for the first federally legal psychedelic-assisted therapy. CEO Amy Emerson emphasized the critical need for a path to cover both the MDMA and the medication sessions should this approach be approved.

Following the Breakthrough Therapy designation granted to MDMA in 2017, MAPS PBC has petitioned the FDA for Priority Review of the new drug application. The FDA has 60 days for the initial review, after which it will determine whether the NDA will undergo priority review, with a duration of six months, or standard review, lasting ten months.

If approved by the FDA, the rescheduling of MDMA by the DEA would enable its prescription medical use, bringing it into mainstream healthcare practice.

See Also: Groundbreaking Study: LSD Tartrate Reduces Anxiety Effectively, Says MindMed

Photo: Benzinga edit with photo by Unsplash.

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