Paying for Legal Psychedelic Therapeutics in Australia

This summer, providers in Australia can legally prescribe psychedelics, MDMA and psilocybin, to patients suffering from post-traumatic stress disorder (PTSD) and depression that has not responded to other treatments. How these drugs will be paid for, however, is still up in the air. Due to a lack of cost-effectiveness analysis, it is unclear whether the therapeutics will be publicly subsidized.

According to The Conversation, “How much will such therapy cost? One estimate is $20,000 to $30,000, comprising the cost of the medication and therapists’ time for sessions. The pharmaceutical-grade psilocybin and MDMA used in Australian clinical studies has largely been supplied free by US-based not-for-profit organisations such as the Usona Institute and Multidisciplinary Association for Psychedelic Studies. The bureaucratic requirements to import these medications include a permit from the TGA and an import licence and permit from the Office of Drug Control.”

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(Source: The Conversation, April 30^th, 2023)