Neuronetics Announces Expanded TMS Therapy Access Through Aetna® Health Plans

Rhea-AI Summary

Neuronetics, Inc. (NASDAQ: STIM) announced that Aetna's healthcare policy update increases access to the Company’s NeuroStar® Advanced Therapy for patients with major depressive disorder (MDD). This update allows TMS treatment to be ordered and conducted under the supervision of behavioral health nurse practitioners, removing the previous requirement of a four-month psychotherapy trial before treatment eligibility. Aetna's policy change aims to help people earlier in their treatment journey, recognizing the need to alleviate access barriers for mental health treatments.

Positive

• Aetna's policy update increases access to NeuroStar® Advanced Therapy, potentially leading to improved patient outcomes and revenue growth for Neuronetics, Inc.
• The removal of the four-month psychotherapy trial requirement may encourage more patients to seek TMS treatment, expanding the potential market for Neuronetics, Inc.

Negative

• None.

Policy Updates Impact Nationwide Commercial Plans for 16.8 Million Covered Lives

MALVERN, Pa., July 19, 2023 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced a healthcare policy update from Aetna increases access for patients to the Company’s NeuroStar^® Advanced Therapy.

Effective immediately, Aetna now allows transcranial magnetic stimulation (TMS) treatment to be ordered and conducted under the supervision of behavioral health nurse practitioners for patients with major depressive disorder (MDD). Also included in the update is the removal of a four-month psychotherapy trial before a patient becomes eligible to receive an initial course of treatment with TMS.

“Aetna has joined the groundswell of payers that are alleviating access barriers for patients in need of mental health treatments,” stated Keith J. Sullivan, President, and CEO of Neuronetics Inc. “By opening access to care through nurse practitioners and reducing eligibility requirements, Aetna is recognizing the need to help people earlier in their treatment journey.”

Aetna is one of the largest health plans in the country with over 16.8 million lives covered through its commercial policies nationwide. This policy update builds on recent momentum from both commercial and government payers to expand coverage to TMS Therapy. Neuronetics previously announced updated policies through payers such as BlueCross BlueShield of Michigan, United HealthCare, and NGS Medicare. Neuronetics is the only TMS company in the industry with a dedicated health policy team that partners with both providers and payers to advocate for health policy changes.

Major depressive disorder (MDD) is a serious issue that affects 21 million adults in the United States, with 6.4 million people being underserved by antidepressant medication. NeuroStar TMS is a non-drug treatment that can help alleviate the burden of drug-resistant depression. For more information about NeuroStar TMS Therapy, please visit 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 FDA-cleared for adults with major depressive disorder (MDD), as an adjunct for adults with obsessive-compulsive disorder (OCD), and to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression). NeuroStar Advanced Therapy is the leading transcranial magnetic stimulation (TMS) treatment for MDD in adults with over 5.4 million treatments delivered. NeuroStar is backed by the largest clinical data set of any TMS system for depression, including the world’s largest depression Outcomes Registry. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety and prescribing information, www.neurostar.com.

Media Contact:
EvolveMKD
646.517.4220
NeuroStar@evolvemkd.com

FAQ

What is the impact of Aetna's healthcare policy update on Neuronetics, Inc. (NASDAQ: STIM)?

Aetna's policy update increases access to NeuroStar® Advanced Therapy for patients with major depressive disorder (MDD), potentially leading to improved patient outcomes and revenue growth for Neuronetics, Inc.

How does Aetna's policy change affect TMS treatment for patients with MDD?

Aetna's policy change allows TMS treatment to be ordered and conducted under the supervision of behavioral health nurse practitioners, removing the previous requirement of a four-month psychotherapy trial before treatment eligibility.

Why is Aetna's policy update significant for Neuronetics, Inc.?

Aetna's policy update is significant for Neuronetics, Inc. as it expands access to NeuroStar® Advanced Therapy, potentially leading to improved patient outcomes and revenue growth.

What is the goal of Aetna's policy change?

Aetna's policy change aims to help people earlier in their treatment journey, recognizing the need to alleviate access barriers for mental health treatments.