Expanded Health Policies Enhance TMS Therapy Access for Adolescents and Adults
Neuronetics, Inc. (NASDAQ: STIM) announced expanded coverage for its NeuroStar TMS Therapy, a treatment for major depressive disorder (MDD). BlueCross BlueShield of North Carolina now covers adolescents 15 years and older, affecting over 2.2 million lives. Louisiana Medicaid has introduced its first TMS coverage policy for adults 18 and older, impacting more than 1.6 million lives.
These policy updates follow recent expansions by other major insurers like Aetna and California Medicaid. NeuroStar is the first and only FDA-cleared TMS treatment for adolescents. Neuronetics' dedicated health policy team works with providers and payors to advocate for increased access to TMS therapy, addressing the growing demand for mental health treatments amidst provider shortages.
Neuronetics, Inc. (NASDAQ: STIM) ha annunciato un'estensione della copertura per la sua NeuroStar TMS Therapy, un trattamento per il disturbo depressivo maggiore (MDD). BlueCross BlueShield della Carolina del Nord ora copre gli adolescenti di 15 anni e oltre, influenzando oltre 2,2 milioni di vite. Louisiana Medicaid ha introdotto la sua prima politica di copertura TMS per adulti di 18 anni e oltre, impattando più di 1,6 milioni di vite.
Questi aggiornamenti delle politiche seguono recenti espansioni da parte di altri grandi assicuratori come Aetna e Medicaid della California. NeuroStar è il primo e unico trattamento TMS approvato dalla FDA per gli adolescenti. Il team dedicato alle politiche sanitarie di Neuronetics collabora con fornitori e pagatori per promuovere un accesso maggiore alla terapia TMS, affrontando la crescente domanda di trattamenti per la salute mentale in un contesto di carenza di fornitori.
Neuronetics, Inc. (NASDAQ: STIM) anunció una cobertura ampliada para su NeuroStar TMS Therapy, un tratamiento para el trastorno depresivo mayor (MDD). BlueCross BlueShield de Carolina del Norte ahora cubre a los adolescentes de 15 años y más, afectando a más de 2.2 millones de vidas. Louisiana Medicaid ha introducido su primera política de cobertura de TMS para adultos de 18 años y más, impactando a más de 1.6 millones de vidas.
Estas actualizaciones de políticas siguen a expansiones recientes de otros grandes aseguradores como Aetna y Medicaid de California. NeuroStar es el primer y único tratamiento TMS aprobado por la FDA para adolescentes. El equipo de políticas de salud de Neuronetics trabaja con proveedores y pagadores para abogar por un acceso ampliado a la terapia TMS, abordando la creciente demanda de tratamientos de salud mental en medio de la escasez de proveedores.
Neuronetics, Inc. (NASDAQ: STIM)는 주요 우울 장애(MDD)에 대한 치료법인 NeuroStar TMS Therapy의 보장 범위를 확대했다고 발표했습니다. 북부 캐롤라이나의 BlueCross BlueShield는 이제 15세 이상의 청소년을 포함하여 220만 명 이상의 생명에 영향을 미칩니다. 루이지애나 메디케이드는 18세 이상의 성인을 위한 첫 번째 TMS 보장 정책을 도입하여 160만 명 이상의 생명에 영향을 미칩니다.
이 정책 업데이트는 Aetna 및 캘리포니아 메디케이드와 같은 다른 주요 보험사들의 최근 확장에 이어 발생했습니다. NeuroStar는 청소년을 위한 FDA 승인 TMS 치료법의 첫 번째이자 유일한 치료법입니다. Neuronetics의 헬스 정책 팀은 제공자 및 지불자와 협력하여 TMS 요법에 대한 접근성을 높이기 위해 노력하고 있으며, 공급자 부족 속에서 정신 건강 치료에 대한 증가하는 수요를 해결하고 있습니다.
Neuronetics, Inc. (NASDAQ: STIM) a annoncé une couverture élargie pour sa thérapie NeuroStar TMS, un traitement pour le trouble dépressif majeur (MDD). BlueCross BlueShield de Caroline du Nord couvre désormais les adolescents de 15 ans et plus, touchant plus de 2,2 millions de vies. Louisiana Medicaid a introduit sa première politique de couverture TMS pour les adultes de 18 ans et plus, impactant plus de 1,6 million de vies.
Ces mises à jour de politique font suite à des expansions récentes par d'autres grands assureurs tels qu'Aetna et California Medicaid. NeuroStar est le premier et le seul traitement TMS approuvé par la FDA pour les adolescents. L'équipe dédiée aux politiques de santé de Neuronetics travaille avec les prestataires et les payeurs pour plaider en faveur d'un meilleur accès à la thérapie TMS, répondant à la demande croissante de traitements de santé mentale dans un contexte de pénurie de fournisseurs.
Neuronetics, Inc. (NASDAQ: STIM) hat eine erweiterte Abdeckung für seine NeuroStar TMS-Therapie angekündigt, eine Behandlung für die schwere depressive Störung (MDD). BlueCross BlueShield von North Carolina übernimmt nun die Kosten für Jugendliche ab 15 Jahren, was über 2,2 Millionen Leben betrifft. Louisiana Medicaid hat seine erste TMS-Abdeckungspolitik für Erwachsene ab 18 Jahren eingeführt, was mehr als 1,6 Millionen Leben beeinflusst.
Diese politischen Aktualisierungen folgen jüngsten Erweiterungen durch andere große Versicherer wie Aetna und California Medicaid. NeuroStar ist die erste und einzige FDA-zugelassene TMS-Behandlung für Jugendliche. Das engagierte Gesundheitspolitik-Team von Neuronetics arbeitet mit Leistungserbringern und Zahlenden zusammen, um den Zugang zur TMS-Therapie zu fördern und der wachsenden Nachfrage nach psychischen Gesundheitsbehandlungen in Zeiten von Personalmangel gerecht zu werden.
- Expanded insurance coverage for NeuroStar TMS Therapy, potentially increasing patient access and revenue
- BlueCross BlueShield of North Carolina now covers adolescents 15 years and older, affecting 2.2 million lives
- Louisiana Medicaid introduced first TMS coverage policy for adults 18 and older, impacting 1.6 million lives
- NeuroStar is the only FDA-cleared TMS treatment for adolescents, giving Neuronetics a competitive advantage
- Dedicated health policy team advocating for increased coverage, potentially leading to further market expansion
- None.
Insights
The expanded coverage for TMS therapy by BlueCross BlueShield of North Carolina and Louisiana Medicaid represents a significant shift in mental health treatment accessibility. This policy change could potentially benefit over 3.8 million covered lives, including adolescents as young as 15. The inclusion of younger patients is particularly noteworthy, as it addresses a critical gap in depression treatment for teens. From a policy perspective, this move aligns with the growing recognition of mental health parity and the need for innovative treatment options beyond traditional pharmacotherapy. The expansion of coverage may also reduce long-term healthcare costs by allowing earlier intervention, potentially preventing more severe depressive episodes and associated complications.
Neuronetics' NeuroStar TMS Therapy stands to gain substantial market share from these policy updates. As the first and only FDA-cleared TMS treatment for adolescents, NeuroStar has a significant competitive advantage in this newly opened market segment. The company's dedicated health policy team demonstrates strategic foresight, potentially accelerating adoption rates and revenue growth. This expansion could lead to increased device sales and recurring revenue from treatment sessions. However, investors should monitor potential competition entering this space and any challenges in scaling up to meet increased demand. The policy changes also signal a broader trend towards non-invasive neuromodulation therapies, which could attract more investment and innovation in the sector.
The inclusion of TMS therapy in more insurance policies is a game-changer for depression treatment. It offers a non-pharmacological option for patients who haven't responded well to traditional antidepressants, potentially improving outcomes and quality of life. The extension to adolescents is particularly crucial, as early intervention can significantly alter the course of depression. However, it's important to note that while TMS is promising, it's not a panacea. Proper patient selection and integration with comprehensive mental health care remain essential. The expanded coverage may also help alleviate the burden on overextended mental health providers by offering an alternative treatment modality. This could lead to more efficient resource allocation in mental health care delivery, potentially reducing wait times and improving overall care quality.
BlueCross BlueShield of North Carolina and Louisiana Medicaid Increase Coverage for Patients with Depression
MALVERN, Pa., Sept. 19, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced that additional payors have updated their TMS (transcranial magnetic stimulation) coverage to reduce access barriers for patients with major depressive disorder (MDD). This expanded access allows people to receive treatment such as the Company’s NeuroStar TMS Therapy earlier in their treatment regimen.
Effective immediately, BlueCross BlueShield (BCBS) of North Carolina has expanded its TMS policy to cover adolescents 15 years and older, based on recent clearance from the United States Food and Drug Administration (FDA) for NeuroStar as the first and only TMS treatment authorized for this population. BCBC of North Carolina policies affect more than 2.2 million covered lives. Additionally, Louisiana Medicaid has started covering TMS for adults 18 and older, effective immediately. This is the first TMS coverage policy from Louisiana Medicaid, which has a footprint of more than 1.6 million covered lives.
“We are thrilled to see expanded health policies that increase access to NeuroStar TMS Therapy for depression, a crucial advancement as payors step up to meet the rising demand for effective mental health treatments,” stated Keith J. Sullivan, President and CEO of Neuronetics, Inc. “This trend reflects a growing recognition of the urgent need to support patients in the face of a shortage of mental health providers, and we are excited about the positive impact it will have on improving lives.”
These policy updates build on recent momentum from commercial and government payers to expand coverage for TMS Therapy. Neuronetics previously announced updated policies through payers such as Aetna and California Medicaid. In addition to being the first and only TMS company with FDA clearance for adolescent treatment, Neuronetics is the only TMS company in the industry with a dedicated health policy team that partners with both providers and payors to advocate for health policy updates.
For more information about NeuroStar TMS Therapy, please visit www.neurostar.com.
About Neuronetics
Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations with its NeuroStar Advanced Therapy for Mental Health. NeuroStar is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication hasn’t helped. NeuroStar is indicated for the treatment of depressive episodes and for decreasing anxiety symptoms for those who may exhibit comorbid anxiety symptoms in adult patients suffering from MDD and who failed to achieve satisfactory improvement from previous antidepressant medication treatment in the current episode. It is also FDA-cleared as an adjunct for adults with obsessive-compulsive disorder and for adolescent patients aged 15-21 with MDD. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with over 6.6 million treatments delivered. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety and prescribing information, visit www.neurostar.com.
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iWorld Health Organization, Depression Fact Sheet. https://www.who.int/news-room/fact-sheets/detail/depression.
FAQ
What new insurance coverage has been announced for Neuronetics' NeuroStar TMS Therapy (STIM)?
How many lives are affected by the new BlueCross BlueShield of North Carolina TMS coverage policy for STIM?
What is unique about Neuronetics' NeuroStar TMS Therapy (STIM) for adolescents?
How many lives are impacted by Louisiana Medicaid's new TMS coverage policy relevant to STIM?
