License Fees Delay Psilocybin Services in Colorado: What’s Next?
- RHIZE
- Oct 8, 2024
- 2 min read
Updated: Oct 12, 2024
What Comes Next After License Fees Cause Delay in Psilocybin Services in Colorado?
Colorado is gearing up for the launch of legal psilocybin therapy, thanks to Proposition 122, which voters approved in 2022. However, a key issue—license fees for healing centers—has caused delays in the regulatory process, pushing back the final decision on costs to late October.
What’s the Hold-Up?
The Colorado Department of Revenue’s Natural Medicine Division was set to finalize fees for healing center licenses by mid-September. However, concerns over high costs, especially for smaller “micro” centers, led to public pushback. These fees will directly impact the cost of psilocybin therapy for consumers, making the service potentially inaccessible to many if the fees are too high. With Colorado planning to begin accepting business applications by December 31, 2024, time is running out to find a solution.
Proposed Fees and the Economic Challenge
The proposed fees for a micro healing center start at $3,000 in the first year and rise to $12,000 by year three. For standard healing centers, the fees will total $16,000 by year three. Critics argue that these costs are too steep, particularly for smaller businesses or therapists who want to offer psilocybin services as an extension of their existing practice.
This is a significant concern for those hoping to keep psilocybin therapy accessible and affordable. High fees could lead to expensive services, as businesses pass on the costs to clients. Oregon, the first state to legalize supervised psilocybin use, has seen therapy costs range from $500 to $10,000, limiting access for many.
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Flexibility in Colorado’s Approach
Despite the licensing challenges, Colorado’s psilocybin program offers more flexibility than Oregon’s. In Colorado, therapists and healthcare providers can incorporate psilocybin into their existing practices, while Oregon requires separate facilities for psilocybin services. Additionally, Colorado allows for in-home psilocybin sessions, expanding access to those with disabilities or mobility challenges.
What’s Next?
The final decision on psilocybin license fees will come after a public hearing on October 21, 2024. The outcome will likely determine whether smaller healing centers can afford to offer psilocybin services and how accessible these services will be for Colorado residents. As we approach the state’s deadline to start accepting business applications by December 31, 2024, this issue will be crucial for the future of psilocybin therapy in Colorado.
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