Reset Mind Sciences has announced a new partnership with the insurer Health Insurance Fund (HIF) to provide psychedelic-assisted psychotherapy in a specialised treatment facility.

The treatment is estimated to cost between $20,000 and $25,000 a year.

Reset CEO Shaun Duffy told Oliver Peterson on Perth Live it will be the first facility of its kind.

“It’s the first step in taking psychedelics out of the clinical trial world into the real world,” said Mr Duffy.

“We want health insurers involved right from the start.”

Press PLAY below to hear more about the partnership