🫠 Psychonaut POV

Welcome to Tricycle Day. We’re the GEICO of psychedelic newsletters. A five-minute read could reduce your existential dread by 5% or more! 🦎

Sherry Rais understood that cost is the biggest obstacle keeping most people from accessing psychedelic therapy. So she founded Enthea, a startup that shifts the bill to someone willing and able to pay: employers.

We spoke to Sherry about how and why companies might cover psychedelics as an employee benefit, the exciting results from Enthea’s pilot with Dr. Bronner’s, and what the future of psychedelic coverage looks like in 2024.

FROM OUR SPONSORS

Iboga might be the most misunderstood plant medicine on Earth.

Lately, everyone’s been pigeonholing it as a “drug detox medicine.” But the truth is actually way more interesting.

For centuries, the Bwiti people have worked with Iboga for everything from healing trauma to communicating with ancestors to boosting fertility and more.

Next month, SoulCentro is hosting a live online open house to answer all your questions about this versatile medicine spirit.

Can’t make it? No problem. Sign up below, and you’ll get the replay.

Register for free.

What inspired your career shift from international development to the access side of psychedelic therapy?

When I worked at the United Nations and the World Bank, my focus was on poverty reduction strategies across 37 countries. I spent 355 days a year in places like Afghanistan, Yemen, Syria, and Malawi, witnessing firsthand the impact of poverty, trauma, and conflict on communities. Over a decade, I saw that despite comprehensive programs addressing various factors like education, healthcare, and employment, only about half the participants could escape poverty. It became evident that the missing link was mental health. We hadn't factored that into our approach.

This realization led me to explore solutions for integrating mental health support into these programs. But the available solutions were lacking. Around 2018, I discovered the potential of psychedelic therapies. It wasn't a personal experience that drove me into this field, but rather the compelling data from clinical trials. I brought these ideas to the UN and the World Bank, but my pitch was premature and didn't resonate.

Candidly, my agenda in international development had always been to merge mental health policy with poverty reduction strategies. In college, I’d studied neuroscience and public policy with that very goal in mind. Despite encountering resistance at the UN, I persisted for over a decade. Eventually, frustration led me to seek new opportunities, and my next step was to get trained as a psychedelic therapist at CIIS.

That's where Enthea comes in. We develop benefit plans for employers to offer their employees access to psychedelic healthcare, starting with ketamine. Just like how employers offer dental plans, they can now provide a plan for ketamine therapy. This service not only removes cost barriers but also ensures access to trusted providers. Right now, there's a glut of ketamine clinics in the US, and it can be hard to discern quality. Enthea steps in to educate and guide employers and employees through every step of the process.

What are the key challenges you’re up against with Enthea? Can you explain what makes expanding access to psychedelics so tricky?

The landscape we face has three main challenges. Firstly, the legal aspect—most psychedelics, apart from ketamine, aren’t FDA approved. Although there’s a lot of hope for ongoing clinical trials, the current status of most psychedelic therapies hinders accessibility.

Secondly, the enduring stigma surrounding psychedelics poses a real hurdle. It's easy to forget that our perspective in the psychedelic space doesn't reflect the broader societal understanding. I had this reality check myself this summer when I went straight from MAPS' Psychedelic Science conference to a larger tech conference in Toronto, where psychedelics were still largely unknown. The lack of awareness goes beyond stigma, too; it's about information dissemination. While media coverage has reintroduced psychedelics to the mainstream, the therapeutic benefits are still poorly understood, especially among HR decision-makers. Enthea needs to educate these stakeholders about the medical potential of these treatments.

Thirdly, after a post-COVID surge in mental health initiatives at companies, convincing employers to adopt something new like psychedelic healthcare becomes an uphill battle. It’s a psychological hurdle for employers who've already invested time and resources in other programs, even when it's evident that their current approach falls short.

Enthea made headlines with its successful pilot for Dr. Bronner’s. What did you learn from that partnership?

The results from our pilot program were incredibly validating. From a data standpoint, we saw remarkable reductions in symptoms among participants who completed ketamine therapy. Employees with PTSD experienced an 86% decrease in symptoms, while those battling depression saw a 67% reduction, and those dealing with anxiety had a 65% improvement. These outcomes, achieved within a maximum of six ketamine sessions and monitored over twelve months, are truly revolutionary compared to traditional mental healthcare.

Our pilot at Dr. Bronner's had a 7% utilization rate, which was higher than expected, even within a company known for its openness toward psychedelics among leadership. This utilization rate speaks volumes, considering there are employees who may not be as familiar with psychedelics. This pilot also taught us valuable operational lessons that improved our internal systems for scalability, provider network expansion, and reimbursement.

We also need to think about business impact. Mental health conditions among employees translate to significant costs for employers. For instance, mental health issues contribute heavily to medical spend and account for 60% of all disability claims. Moreover, individuals grappling with mental health challenges tend to amplify costs associated with treating other health conditions, doubling expenses in some cases. Indirect costs, such as productivity, retention rates, absenteeism, and overall workplace happiness, are equally critical factors affecting employers.

For self-funded employers (about 75-80% of large American employers), understanding these direct costs is especially important. They shoulder all medical expenses for their employees. Fortunately, the return on investment in addressing mental health directly can be quantified. We’ve seen about a 3.5x ROI, averaging $25,000 saved annually per person who underwent ketamine therapy for depression. Measuring the indirect savings proves trickier, especially for smaller employers, but Enthea is working to address all the costs associated with mental health.

How do you see access to psychedelics improving, not just for employees but also for freelancers and other people with unconventional sources of income?

It's a problem I think about often. I envision a future where access to psychedelic healthcare mirrors the access freelancers and independent consultants have to health insurance. Currently, these individuals can find coverage through small insurance companies online or state-sponsored solutions designed explicitly for independent contractors. As I go through the open enrollment process for my partner's insurance, it strikes me as obvious that there should be a similar path to ketamine therapy and broader psychedelic healthcare.

As of 2023, it hasn't materialized yet, but it's something I'm eager to explore in 2024. I'm hopeful that Enthea can expand its offerings to align with state-sponsored solutions and Professional Employer Organizations (PEOs) that cater to freelancers and independent contractors. Creating pathways for these individuals to access psychedelic healthcare is an important goal in our roadmap.

Can you offer any advice to our readers who believe they could benefit from psychedelic therapy but struggle with the cost or credibility of their current options?

When it comes to grappling with the cost of ketamine therapy, there are several avenues to explore. Firstly, I’d encourage you to discuss Enthea with your employer. You can reach out to us directly if you prefer, and we'll engage your employer discreetly about covering this benefit. That's the most straightforward approach.

If cost is still an issue, consider at-home options for ketamine. While opinions differ on this approach, some find it a more cost-effective solution. If you go this route, please do thorough research first. Engage with companies offering at-home ketamine, understand their protocols, and pick one that feels right only after reviewing several options.

When it comes to selecting a provider, it’s important to do your homework here, as well. Check reviews, ensure they're licensed, and importantly, confirm if they offer ketamine-assisted therapy with licensed behavioral health professionals. Sometimes, ketamine infusion clinics might not offer therapy, which may or may not be what you're looking for. To find credible providers, I recommend checking the MAPS website. MAPS-trained professionals often offer ketamine therapy.

Finally, even though it won’t help with cost or access to treatment, I’d like to offer one last suggestion. Take a moment to check in with yourself and your loved ones. People around us are hurting, and sometimes, all it takes is a little love to make a difference. So, reach out, ask how someone's doing. It's a small gesture that can mean a lot.

Want more from Sherry?

Learn more about offering psychedelic healthcare as an add-on benefit at your company, or join the Enthea Network as a credentialed psychedelic therapist.

UNTIL NEXT TIME

That’s all for today, Cyclists! Whenever you’re ready, here’s how we can help you.

• 📣 Put your brand in front of 36k psychedelic enthusiasts by sponsoring Tricycle Day. Book an ad.

• 🧑‍🎓 Build and improve your psychedelic skills with our online courses. Enroll today.

• ✍️ Need something else? Reply to this email. (We read every response.)

ONE CYCLIST’S REVIEW

Forwarded this email? Subscribe here.

DISCLAIMER: This newsletter is for educational and informational purposes only and is not intended as a substitute for professional medical advice. The use, possession, and distribution of psychedelic drugs are illegal in most countries and may result in criminal prosecution.