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Robison described them as 'one-stop shops' where people of all ages and with a range of mental health conditions may access a range of mental health interventions, from traditional drugs and psychotherapies to new modalities, including Spravato, ketamine-assisted psychotherapy, and TMS.

Additionally, some of the clinics have a specialty area, such as palliative care or substance use disorders, and Novamind will be expanding this program. All of the clinics contain private rooms equipped for administering ketamine in conjunction with psychotherapy. Buy Ketamine Online

People needing mental health intervention wind up at Novamind's clinics typically through referral by physicians, specialists, hospitals, and even other mental health clinics and programs, Robison said. Many of these individuals present with a condition like depression, treatment-resistant depression, PTSD, and another mood disorders.

'We take all comers, and we individualize the treatment plan according to their needs and the best possible evidence and clinical guidelines,' Robison added.

Having such an array of possible treatments at their fingertips allows staff to do that in collaboration with each. Each clinic team is comprised of psychiatrists, psychotherapists, nurse practitioners, and physician assistants, all with psychiatric training or credentials. All medical staff are initially trained in ketamine-assisted psychotherapy, and, as new therapeutics come online, they receive training in those, too.

Robison explained that ketamine-assisted psychotherapy can be used for PTSD, severe anxiety, obsessive compulsive disorder, serious eating disorders and, sometimes, substance abuse conditions. For such treatment, ketamine is generally delivered intramuscularly not intravenously. One treatment course requires preparation sessions, three to six drug delivery sessions (one to two hours long), plus psychotherapy integration afterward, individually or in a group. Novamind charges less than $300 for a dosing session of ketamine-assisted psychotherapy, an accessible price, Robison said.

Spravato, or ketamine in drug form, is approved for depression and major depressive disorder with suicidality, but most patients taking it have moderate to severe depression that is resistant to traditional therapies. Spravato is an expensive drug but is covered by insurance, as is TMS.

Some psychedelics, such as MDMA, require longer dosing sessions, such as six-plus hours, but Robison and Conforte do not think the time commitment will discourage people from getting the treatment. Many qualifying patients have suffered for years, some even a lifetime, from their disorder, and the treatment response could be significant, maybe even resulting in remission, which is well worth the investment.

Whereas mental health clinics typically are not lucrative, Conforte said Novamind's model is different. For one, each treatment offered represents a separate revenue source. Also, expansion is possible, such as through group and by offering various care levels, from basic to concierge, to certain markets.

'I think you'll see potential for new models, commercial models, emerge and, again, expansion of the potential margins in our business, specifically psychiatry clinics,' he added.

Looking forward for Novamind, Conforte said it expects to make several exciting announcements this year.

Disclosures:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Novamind. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

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