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The code was the result of a partnership between U.K.-based COMPASS Pathways and the Multidisciplinary Association for Psychedelic Studies (MAPS)
The American Medical Association has approved a new temporary medical code for psychedelic therapy that will allow physicians to seek insurance reimbursement for the service starting in January 2024. The full details of the code are expected to be released by the AMA in July 2023.
The code was the result of a partnership between U.K.-based COMPASS Pathways and the Multidisciplinary Association for Psychedelic Studies (MAPS) Public Benefit Corporation to facilitate access and insurance coverage for psychedelic therapies in the United States.
COMPASS Pathways is currently conducting Phase 3 clinical trials evaluating psilocybin for treatment-resistant depression. Psilocybin is a compound found in certain mushrooms that can alter perception and mood. The company has already published positive results from a Phase 2b study, the largest of its kind, finding psilocybin therapy led to a significant reduction in depressive symptoms.
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American Medical Association approves medical code for psychedelic therapies coverage
