We spoke to Adam Wright (AW), Director of Field Trip Basecamp, about the below news.
PA: What is the understood success rate in filing for insurance claims for ketamine-assisted psychotherapy?
AW: At this stage we can’t point to a precise success rate, but we have seen reliable success in achieving full financial support for eligible patients under Veterans Affairs Canada, as managed by Medavie Blue Cross.
PA: What volume of clients does FTRP expect this to bring?
AW: Since ketamine-assisted therapy is a relatively new concept in the veteran community, it is very difficult to assess the level of receptiveness at this stage. Heroic Hearts Project will engage in a major initial effort to provide reliable information around ketamine therapy to the community and connect interested veterans with Field Trip hubs. After a few months, we’ll begin making projections for what to expect for the next year.
PA: Do veterans have to have been pre-assessed for a mental health indication prior to applying? Or, can Field Trip assist with that side of things, too.
AW: Heroic Hearts project conducts an initial assessment with a medical evaluation questionnaire and phone interview. Field Trip then conducts an independent patient evaluation which includes medical screening and psychiatric consultation.
Full Press Release…
Ketamine-assisted psychotherapy showing great promise for treatment of PTSD
Toronto, Canada – October 14, 2020– Heroic Hearts Project (“HHP”), an international nonprofit organization that connects military veterans struggling with mental trauma to psychedelic therapies, and Field Trip Health Ltd. (CSE: FTRP) (“Field Trip”), the global leader in the development and delivery of technology-enabled psychedelic therapies, today announced entry into a strategic relationship to increase access to, and awareness of, psychedelic therapies for veterans suffering from mental health disorders such as PTSD.
Under the terms of the relationship, and in accordance with the foundation’s mission, HHP will be conducting active outreach and education programs for military veterans about the therapeutic potential of ketamine-assisted psychotherapy (“KAP”). Field Trip, which through its Basecamp division, has developed a unique “KAP+” trauma-focused treatment pathway tailored to veterans and frontline workers, will assist military veterans in applying for insurance and reimbursement options to make the treatment available at little to no cost through its Field Trip Health hubs.
As the acceptance of psychedelics spreads, the role of independent organizations like Heroic Hearts Project will be increasingly important to ensure the responsible progression of these treatment options for the veteran as well as other communities. Beyond the relationship with Field Trip, HHP primarily works to spread awareness in the veteran community of plant-based psychedelic treatments, such as ayahuasca and psilocybin, for mental health conditions and end the excessive dependence on pharmaceutical medications to treat mental traumas.
“Not all veterans are able to participate in traditional psychedelic ceremonies due to either medical or logistical constraints,” said Jesse Gould, HHP’s founder. “Ketamine-assisted psychotherapy offers a potentially effective solution for veterans who can’t travel to remote retreat locations or have contraindications that prevent them from immediately working with other psychedelic options. We applaud Field Trip for demonstrating responsible leadership in the psychedelic field by working with HHP to ensure that veterans receive quality psychedelic care and attention. We are excited to be working with Field Trip and its Basecamp program to increase veteran access to world class psychedelic facilities across North America.”
The strategic relationship will start with a focus on helping Canadian veterans access to KAP+ in Field Trip’s Toronto clinic, as veterans in Canada are able to go through the full treatment protocol at little to no cost with their insurance coverage.
“We are very excited to collaborate with Jesse and HHP,” said Adam Wright, Director of Field Trip Basecamp. “There is a subset of veterans who have been failed by conventional mental health solutions and HHP helps guide them through alternative treatments in the safest and most conscientious way possible. With KAP+, Field Trip offers a domestic, legal and evidence-based therapy channel for HHP.”
Ronan Levy, Executive Chairman of Field Trip, added, “It’s estimated that there are more than half a million veterans in North America that have or are experiencing PTSD and other mental health conditions from their service to their countries. New, effective and accessible treatment options, such as our KAP+ treatments, are absolutely essential to showing these members of our communities the respect they deserve, and giving them the support they need. And that’s why we are so excited and honoured to be partnering with HHP in this pursuit.”
About Heroic Hearts Project
The Heroic Hearts Project is an international non-profit, charitable organization that connects veterans with psychedelic treatment options for mental health traumas, including PTSD. Working with retreat centers around the world, Heroic Hearts Project has been helping veterans overcome obstacles to success. A proud partner of the veterans’ community, the organization has also provided more than $250,000 in financial scholarships to veterans who are struggling financially. HHP has branches across the United States as well as the United Kingdom and Canada www.heroicheartsproject.org.
About Field Trip Health Ltd.
Field Trip is the global leader in the development and delivery of psychedelic therapies. With Field Trip Discovery leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics, Field Trip Health hubs for psychedelic therapies opening across North America, and Field Trip Digital building the digital and technological tools to support psychedelic experiences and consciousness expansion, we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world. Field Trip’s common shares are listed for trading on the Canadian Securities Exchange under the symbol “FTRP”.
Cautionary Note Regarding Forward-Looking Information.
This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business, which may include, but are not limited to, statements with respect to the listing of the common shares of Field Trip on the Canadian Securities Exchange, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip, and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
The CSE has neither approved nor disapproved the contents of this news release.