The economics of psychedelic-assisted therapies: A research agenda
Frontiers in Psychiatry – December 05, 2022
Source: OpenAlex
Summary
New therapeutic modalities, potentially available as soon as 2024, are revolutionizing psychiatry's approach to mental health. After a long hiatus, psychedelics demonstrate substantial promise for treating conditions like depression, PTSD, and various addictions. These powerful psychotherapeutic tools offer hope for individuals unresponsive to traditional medicine. However, widespread accessibility of these drug studies hinges on critical economic considerations. Effective implementation requires robust analysis of costs and pricing, outlining six types of economic analyses crucial for future planning, ensuring these advancements in psychology and medicine reach those who need them.
Abstract
After a long hiatus, psychiatry is undergoing a resurgence of interest in psychedelic drugs as therapy for a wide range of mental health disorders Accumulating clinical evidence suggests substantial potential for psychedelics used in a therapeutic context, as treatment for, among other disorders, depression, post-traumatic stress disorder (PTSD), and addictions to tobacco, opioids and alcohol. As soon as 2024, powerful new therapeutic modalities could become available for individuals with mental health problems refractory to traditional therapies. Yet research has lagged on economic considerations, such as costs and cost-effectiveness, the economic effects of widespread implementation, pricing, and economic appraisal's methodological considerations relevant to psychedelic therapies. These issues are critical if psychedelic therapies are to become widely accessible. We describe six types of economic analyses and their rationale for decisions and planning including the needs of health care payers. We also outline desirable features of this research, including scientific rigor, long horizons, equity, and a global view.