YES and in fact, psychotherapy has been shown to be nearly as effective as medication therapy. We state nearly because for some conditions, such as: schizophrenia or bi-polar, medications are perhaps the only means of managing the condition.
However, when we are addressing anxiety, panic, depression, addiction, grief, etc. then therapy is highly effective. Studies have shown that psychotherapy has the ability to alter the brain in the same way that drugs do (Friedman, 2002).
It’s thought that this happens because as a person goes through therapy, the things they learn produce new proteins that help to remodel neurons in the brain. Therefore, learning can literally re-wire your brain!
The things you learn can also be used over and over; they can be adapted, expanded, and combined with drug therapy to enhance the effects of both.