![]() These clinics are entrusted to run their business as they see fit. A clinic in Los Angeles could have completely different standards than one in Salt Lake City. There is also no regulating body governing these clinics. No one has written the de-facto rosetta stone guidebook There isn’t any research on long-term effects or potential risks down the road of repeated ketamine infusions over an extended period of time, and there’s no clear consensus between the providers currently offering it on optimal dosing, or how to go about maintaining the drug’s effects. That looks like a recipe for big profits.īut there are some limitations to the data on ketamine as its status with the FDA as a controlled substance has blocked research for decades. So as long as the doctor agrees the infusion therapy to be ethical and not in violation of any safety standards, they can prescribe it accordingly. Once the FDA approves a drug, healthcare providers generally may prescribe the drug for an unapproved use when they judge that it is medically appropriate for their patient. Ketamine infusion therapy is used for the treatment of chronic neuropathic pain and various medication-resistant mental health disorders, including depression, bipolar disorder, and PTSD to name a few. The clinics will be paying for themselves before you know it. The company reported a $1M CAD gross margin on $2.1M of revenue in a year where foot traffic was drastically down in nearly every brick and mortar-based sector. While Field Trip is building its own clinics, Novamind is acquiring them – purchasing Cedar Psychiatry’s 4 clinics for $3M CAD last year. Field Trip projects the expansion will cost $4.1M CAD. Novamind owns 5 clinics in Utah, and Field Trip owns 6 clinics in major cities across North America, with plans on expanding to 20 clinics by 2022. Last year Novamind and Field Trip generated $2.1M CAD and $400,000 CAD respectively from their clinics. Field Trip recommends doing 3 rounds for more serious afflictions, coming to a discounted cost of $5,500. ![]() Most ketamine providers request an upfront payment for a complete set of 4 to 6 infusions, some offering discounts or package deals.įor example, Field Trip’s ketamine-based treatment psychotherapy program lasts 11-16 sessions over a 3-4 week period and costs $2,000 CAD. Some providers offer 4 treatments over 1 to 2 weeks. Ketamine infusion for depression usually costs $400 to $800 per session, and most ketamine clinics perform a series of 6 sessions over 2 to 3 weeks. This therapy can cost the patient anywhere from $1,600 CAD to $6,000 CAD for a full series of ketamine treatments. The main draw of ketamine clinics is ketamine infusion therapy. I have previously written about Field Trip’s (FTRP.CN) and Novamind’s (NM.CN) recent foray into ketamine clinics. One of the more profitable routes so far in the sector has been ketamine clinics. ![]() Investors love to see early revenue, and for many companies in the psychedelics space, it’s been hard to come by due to strict regulatory frameworks around controlled substances. It typically takes time to build up a loyal customer base, execute marketing campaigns and create awareness around products. Yaron Conforti, CEO and director, concluded that the group therapy model is “ a cornerstone of Novamind’s Frontline KAP clinical pilot, which recently entered its final stages and is expected to become an available treatment under Groups by Novamind.” Developed in partnership with Colorado-based Wholeness Center, Frontline KAP is designed to address pandemic-related stress and trauma in frontline healthcare workers.Generating revenue as a new company is almost always difficult. “I’ve witnessed countless times, firsthand, how the power of group-based treatment leads to improved accessibility and outcomes, often with ripple effects of patients’ healing work spreading to their families and communities.”Įarlier this month, Novamind announced that it would be hosting a clinical trial of psilocybin for depression, sponsored by the Usona Institute, as well as a Phase IIb clinical trial for MM-120, an LSD-based substance. Reid Robison, chief medical officer said. “Our goal is to develop a robust care model and group therapy further strengthens our range of treatment options,” Dr.
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