Novamind Announces Virtual Group Health Coaching

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announced a partnership with HealCommunity to offer reimbursable remote group therapy and behavioral health coaching.

Rhea-AI Summary

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announced a partnership with HealCommunity to offer reimbursable remote group therapy and behavioral health coaching. This Coaching Program aims to address chronic health conditions linked to mental illnesses through peer support and lifestyle education. Eligible for insurance reimbursement, the program includes diagnostic services by licensed practitioners and runs for six months. The first cohort is set to complete in July 2022, emphasizing the integration of mental and physical health care.

Positive

• Launch of a reimbursable remote group therapy program that addresses mental health issues.
• Partnership with HealCommunity enhances treatment options and patient outcomes.
• The Coaching Program integrates lifestyle interventions with behavioral health coaching.

Negative

• None.

Argus Session date unavailable

+13.52% session move Open Argus

Details

News Market Reaction – NVMDF

The recorded move for NVMDF in the trading session of this news was +13.52%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Collaboration with HealCommunity Offers Remote Access to Reimbursable Group Therapy Option

TORONTO, ON / ACCESSWIRE / May 2, 2022 / Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, is pleased to announce its collaboration with virtual health coaching experts, HealCommunity, to provide remote group therapy and behavioral health coaching to Novamind's clients (the "Coaching Program"). The collaboration expands Novamind's range of care options to include leading virtual care alternatives that leverage the power of group therapy to improve patient outcomes.

People living with chronic physical health conditions experience depression and anxiety at twice the rate of the general population, while people with mental illness risk developing chronic illnesses.¹ Such cases are complex and can benefit from interventions that address root causes and overlapping health concerns,² with research indicating better patient outcomes and lower costs when delivered in a group versus individual setting.³ The Coaching Program is one of several cohort-based treatment programs under the recently launched Groups by Novamind clinical care model and targets root causes of chronic health conditions contributing to mental illness.

Dr. Reid Robison, Chief Medical Officer, commented: "As an organization, we believe in addressing the underlying root causes, rather than simply addressing symptoms. Through this collaboration with HealCommunity, we'll be more equipped to treat the whole person by incorporating lifestyle interventions that are curated to the individual needs and challenges faced by our clients. We've seen time and time again that sustained improvements in mental health begin with healthy foundations, and the Coaching Program is an exciting opportunity to harness the power of peer support and lifestyle medicine to promote healing and growth."

James Maskell, CEO and Co-Founder, HealCommunity, said: "Patient adherence is high inside the community setting with coaching, listening and peer support. We find that patients can prevent and even reverse chronic issues and healthcare payers benefit by avoiding escalating mental healthcare costs."

The Coaching Program is eligible for reimbursement by major insurance providers and complements Novamind's behavioral health treatments with lifestyle education, individual coaching calls, and group interaction led by HealCommunity's National Board-Certified Health and Wellness Coaches. Patients are matched with a peer and enrolled for six months during which time a Novamind licensed practitioner provides diagnostic services and treatments and participates in each live session. The first cohort of the Coaching Program is underway and is scheduled to complete in July 2022.

About Novamind

Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information:
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: IR@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

1: https://ontario.cmha.ca/documents/the-relationship-between-mental-health-mental-illness-and-chronic-physical-conditions/
https://www.cdc.gov/pcd/issues/2020/20_0130.htm
2: https://newsroom.clevelandclinic.org/2019/10/25/cleveland-clinic-study-finds-functional-medicine-model-is-associated-with-improvements-in-health-related-quality-of-life/
3: https://bmjopen.bmj.com/content/11/4/e048294

SOURCE: Novamind Inc.

View source version on accesswire.com:
https://www.accesswire.com/699583/Novamind-Announces-Virtual-Group-Health-Coaching

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the purpose of Novamind's collaboration with HealCommunity?

The collaboration aims to provide remote group therapy and behavioral health coaching to enhance patient outcomes, particularly for those with chronic health conditions linked to mental illness.

When is the first cohort of the Coaching Program scheduled to complete?

The first cohort of the Coaching Program is scheduled to complete in July 2022.

Is Novamind's Coaching Program eligible for reimbursement?

Yes, the Coaching Program is eligible for reimbursement by major insurance providers.

What does the Coaching Program include?

The Coaching Program includes lifestyle education, individual coaching calls, and group interactions led by certified health and wellness coaches.

What are the benefits of group therapy according to Novamind's press release?

Group therapy can lead to better patient outcomes and lower costs compared to individual treatment settings.