University of Greenwich study explores Psilocybin’s cost-effective future

Psilocybin is a naturally occurring substance found in some mushrooms. In recent years, researchers have been exploring its potential as a treatment for various mental health conditions, including depression.

Depression is one of the most common mental health conditions that affect millions of people worldwide and the most common treatments include antidepressant medication and cognitive behavioural therapy (CBT). These treatments are effective in many cases but some people do not respond sufficiently and alternative approaches are also required.

The study was a cost-effectiveness model of psilocybin therapy compared to other common treatments for severe depression, such as antidepressant medication, cognitive behavioural therapy (CBT), and a combination of the two. It built on clinical trials conducted at other universities. The analysis considered costs and benefits of each treatment option over a six month period.

The results showed that psilocybin therapy was likely to be cost-effective if improved outcomes are taken into account.

From a narrower healthcare perspective, it is more likely to be cost-effective if the amount of therapist support (considered essential given the nature of the drug) can be reduced in cost.

Lead author and Professor of Healthcare Economics, Professor Paul McCrone, said:

“While this is a relatively expensive treatment option, the improved outcomes that seem to be achieved may justify this extra cost especially as there are few treatment options for those with the hardest to treat forms of depression.

“More research is needed, especially on the level of therapist support that is required, but this is an interesting therapy and could well be positioned alongside more conventional treatments.”