Announced in March by the AFL and the AFL Players' Association, the heavily revamped framework leaves the senior coach banned from finding out if their own players are battling with drug use.
Medical staff, psychologists, club chief executives, presidents and football managers are allowed to know, but breaches of confidentiality may bring mammoth fines of up to $250,000.
"It's one of the things with the new illicit code, where certain people aren't allowed to know that players are struggling," Beveridge said on Wednesday.
"From a mental health point of view, it just compromises our care.
"I can only use our man, Andrew Waterson, who's our appointed psych.
"It came out of the Peter Jackson review (after the 2023 season) that we were in the lower percentile in the competition, as far as that (mental health) investment goes.
"Andrew is doing an incredible job."
Beveridge, who last week teed off at the AFL following the announcement of draft changes, was asked for his opinion on the league trying to mandate fulltime psychologists at every club.
It was one of the recommendations of the AFL's investigation into Carlton, who were slapped with a $75,000 fine for mishandling Elijah Hollands' mental health episode.
Hollands has been on the sidelines and was admitted to hospital following his erratic behaviour in the April 16 match against Collingwood.
Beveridge believes funding a full-time psychologist who could help everyone on a playing list would be tricky.
"(Waterson's) got his own practice, it's probably more lucrative than what we pay him," he said.
"What a fulltime psych would mean or look like at AFL level, it's hard because of our itineraries."
Beveridge also said some Bulldogs players had been working with acclaimed singer Josh Piterman, who is also a life coach and specialises in breath work.
"As long as players feel like they're being cared for, that's really important," he said.
"The AFL provide a number of third party options, and we've been through that with some of our players who aren't here anymore."
Melbourne use former NBL champion David Stiff as their club psychologist.
"Our players and even I use him a lot in terms of mindset, performance," Demons coach Steven King said.
"We look after young men who need a lot of help, not only in the footy landscape, but in life."
Gold Coast coach Damien Hardwick claimed the AFL looked after its players better than any organisation in the world.
"The people in AFL are the best in the business; psychologists, psychiatrists, doctors, physios," Hardwick said.
"There wouldn't be a sport better placed in the world to deal with these things."
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