Research conducted by Clerkenwell Health and the University of Greenwich suggests that psilocybin, a psychedelic compound found in certain mushrooms, could provide a more cost-effective treatment option for major depressive disorder than current methods.
The study, titled “Cost-effectiveness of psilocybin-assisted therapy for severe depression: exploratory findings from a decision analytic model,” indicates that combining psilocybin with therapy may offer greater cost-effectiveness compared to conventional approaches like cognitive behavioral therapy (CBT). The estimated cost of psilocybin-based treatment, priced at £1,200, combined with therapy from a single therapist, was £5,239. In comparison, the researchers noted costs of £3,528 for medication alone, £4,250 for CBT alone, and £4,197 for a combination of the two.
Leading experts in the field of economics and psychedelics, including Professor Paul McCrone from the University of Greenwich, neuro-psychopharmacologist David Nutt, and researchers Henry Fisher and Clare Knight from Clerkenwell Health, a startup specializing in psychedelic treatments, authored the study.
Additionally, the research revealed that patients who received psilocybin-based treatment reported a higher quality of life after therapy, with quality-adjusted life years (QALYs) nearly 10% higher than those treated with CBT, the next most effective treatment option.
This announcement follows Australia’s recent groundbreaking decision to legalize the use of psilocybin (and MDMA) for treating psychiatric conditions, including depression and post-traumatic stress disorder. While psilocybin remains illegal for possession or prescription in the UK, there has been ongoing debate regarding its potential legalization.
Related: MDMA And Psilocybin Were Originally Prescribed For Depression And PTSD In Australia
The issue of mental health treatment has gained significant attention in the UK, with recent data from a BBC investigation revealing that over a quarter of antidepressant users in England, roughly two million individuals, have been taking the medication for five years or more. With the increasing number of people being prescribed antidepressants, the cost of treating depression has become substantial, with a study from the London School of Economics estimating that depression costs the UK economy at least £118 billion annually.
“With rising numbers of people in the UK prescribed antidepressants and increasing chronic use, it’s clear the need for innovative treatments for depression has never been more pressing. Our research finds that there is great potential for psilocybin to be a cost-effective therapy for severe depression – with higher quality impacts for the individuals and society. We’re calling on health professionals and policymakers to seriously consider these findings, which suggest psilocybin could be genuinely ground-breaking for the NHS and for the millions of people being treated for depression in the UK.”
– Dr Henry Fisher, chief scientific officer at Clerkenwell Health
While the study indicates that psilocybin has the potential to be a cost-effective therapy for severe depression, the researchers emphasize that this outcome depends on the level of psychological support provided to patients during psilocybin treatment and the pricing of the drug itself. Furthermore, additional data on long-term outcomes is needed to enhance the evidence base.
Clerkenwell Health is actively involved in designing and conducting several trials to explore the use of psychedelics, including psilocybin, for treating conditions such as depression and post-traumatic stress disorder. The organization is currently recruiting patients for these trials.
