Before they were criminalized, psychedelics were once used in mental health research. Today, they are making a resurgence in the medical field following a long hiatus. Current clinical trials for psychedelic-assisted therapy reveal their potential to treat a variety of mental health conditions. While this novel treatment provides promise, there are many implications to consider regarding its integration into the Western medical model. This paper includes a literature review of the past and current use of psychedelics for healing purposes and mental health research. The literature review provides background for understanding the resurgence of psychedelics within a larger context. Additionally, an analysis of the promise and perils of medicalizing psychedelics was conducted, which determined that psychedelic-assisted therapy will likely be inaccessible for several years. With the United States currently in a mental health crisis, this paper combines psychological, neuroscientific, psychedelic, and contemplative research to understand how psychedelics function to improve mental health. It also provides evidence-based alternatives to psychedelic-assisted therapy that the general population can benefit from. It appears that psychedelics help form new neural connections and expedite the process of deep introspection; however, other practices can achieve similar results. This paper seeks to provide context for the emerging field of psychedelic medicine and demonstrate its potential applicability to various methods of healing