AMA's Reimbursement Codes For Psychedelic-Assisted Therapies Take Effect: Here's What To Expect
Portfolio Pulse from Lara Goldstein
The American Medical Association has activated new CPT III codes for psychedelic-assisted therapies, which are temporary codes for emerging treatments. These codes will facilitate reimbursement and access to such therapies in the U.S. MAPS PBC and COMPASS Pathways (NASDAQ:CMPS) have been instrumental in developing these codes, which could lead to permanent CPT I codes if usage data supports it. MAPS PBC is awaiting FDA approval for MDMA therapy for PTSD, which could lead to DEA rescheduling of MDMA for medical use.
January 03, 2024 | 10:50 pm
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COMPASS Pathways, a biotech company, has been a joint champion in developing the new CPT III codes for psychedelic-assisted therapies. The company's research on psilocybin therapy for Treatment-Resistant Depression (TRD) could benefit from these codes, as they facilitate reimbursement and access to these emerging treatments.
The activation of CPT III codes is likely to have a positive impact on COMPASS Pathways in the short term as it directly supports the company's efforts in psychedelic-assisted therapies. The codes will make it easier for healthcare providers to get reimbursed for using these therapies, potentially increasing demand for COMPASS Pathways' services. The company's involvement in the development of these codes and its research into psilocybin therapy for TRD positions it to benefit from increased usage and acceptance of these treatments.
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