A pilot study at the University of Sydney is evaluating the use of intensive psychotherapy in young people diagnosed with schizophrenia. Extensively used in the treatment of anxiety and depression, CBT is being used in Dr. Antony Kidman's study to help schizophrenia patients counter delusional thinking patterns, improve stress management and social skills.
I tried to locate more details of the study but haven't been able to. My understanding is that the project will build on an earlier British study that has shown good results from such a CBT approach used in conjunction with medication, and the link may provide more detail for those interested. There has been a considerable amount of research in this area and you can read a review, available in full, here.