Enthea Announces Nationwide Rollout to Offer Psychedelic Therapy as a Workplace Benefit
Enthea, the first provider of insurance plans for psychedelic healthcare, announces its successful $2M seed round raise, led by Tabula Rasa Ventures, the first psychedelic therapy accelerator for early-stage startups. The funds will be used to launch its services into 40 markets across the U.S. next year as well as grow Enthea’s customer base and provider network to further its mission of providing affordability and access to safe and effective psychedelic-assisted therapies for all who can benefit.
The United States is in a mental health crisis as 21M adults suffer from major depressive disorder and 12M from post-traumatic stress disorder and another 20M from substance use disorder.1 An ever-increasing number of clinical studies are showing that psychedelic treatments such as ketamine-assisted therapy can be very effective in improving symptoms for a wide range of behavioral health conditions over a sustained period of time.
Enthea is helping in this mental health crisis by bringing employer funding for these new treatments. Because traditional health insurers are years away from adding this coverage, the cost to patients prohibits widespread adoption. Key to Enthea’s mission is to make psychedelic-assisted therapies affordable, accessible, and equitable for as many as possible through its Provider Network – so that it’s not only available to the affluent but to all who would benefit. Enthea provides a turn-key operation that makes it easy for employers to include these treatments as part of their health care coverage to employees and their families. Its plans currently cover ketamine-assisted therapy; MDMA- and psilocybin-assisted therapies will be added as they become FDA-approved in the next several years.
“Through the creation of the country’s first psychedelic healthcare provider network, Enthea is taking a big step in creating access to these new, evidence-based healing options,” said Sherry Rais, CEO and Co-Founder of Enthea. “And as a workplace benefit, this treatment becomes affordable. Next year, most employers across the U.S will be able to offer these innovative treatments, covered under insurance, for the first time.”
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