Neuronetics Announces Updated Medicare Policy Expanding Access to NeuroStar TMS Therapy through Nurse Practitioners

Rhea-AI Summary

Neuronetics, Inc. (STIM) announced a significant update to healthcare policy from National Government Services (NGS) that expands access to its NeuroStar TMS therapy for major depressive disorder (MDD). Effective April 1, 2023, non-physician practitioners (NPPs) will be able to prescribe and administer TMS, reducing the medication failure requirement from four to two prior treatments. This change aims to improve patient care amid a nationwide mental health crisis, allowing more individuals affected by MDD to receive non-drug treatment.

Neuronetics remains committed to advocating for health policy changes, enhancing patient access to potentially life-saving therapies.

Positive

• Policy update allows NPPs to prescribe TMS, expanding access.
• Medication failure requirement reduced from four to two, facilitating treatment for more patients.
• Targeting a significant issue, as 21 million adults in the U.S. suffer from MDD.

Negative

• None.

NGS MAC Allows Non-Physician Practitioners with Autonomy to Prescribe TMS

MALVERN, Pa., Feb. 10, 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 National Government Services, Inc. (NGS) that increases access for patients to its NeuroStar^® Advanced Therapy for Mental Health transcranial magnetic stimulation (TMS). The NGS policy, effective April 1, 2023, will allow non-physician practitioners (NPPs) who are within their scope of practice to order and provide TMS treatment to their patients with major depressive disorder (MDD).

“We recognize and appreciate the significant role psychiatric nurse practitioners have in delivering mental healthcare and are already focused on making NeuroStar available in NPP practices,” stated Keith J. Sullivan, President, and CEO of Neuronetics Inc. “Our health policy team is committed to partnering with our providers and payers to expand coverage policies and allow more patients to have access to potentially life-saving treatments like NeuroStar TMS.”

NGS is the Medicare Administrative Contractor for 6.3 million covered lives in MN, WI, IL, NY, NH, VT, ME, MA, RI, and CT. An additional update in the revised NGS policy is a lower medication requirement – reduced from four failed medications to two prior to TMS treatment.

“Especially now, with a nationwide mental health crisis and a shortage of mental healthcare providers, psychiatric nurse practitioners are often a patient’s go-to provider for diagnosis and treatment,” said Akos Antwi, Psychiatric Mental Health Nurse Practitioner at Revive Therapeutic Services. “Empowering NPs with the tools they require, like NeuroStar TMS, can only improve the level of care for these patients who need help.”

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.

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. NGS has implemented this policy change after considering public comments made by Neuronetics, NeuroStar providers, and others.   Neuronetics has previously announced favorable TMS coverage updates in October 2022 and July 2022.

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 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:
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FAQ

What is the recent NGS policy update for Neuronetics (STIM)?

The NGS policy update, effective April 1, 2023, allows non-physician practitioners to prescribe and provide NeuroStar TMS treatment.

How does the NGS policy change impact patients with major depressive disorder (MDD)?

It enhances access to TMS therapy by reducing the prior medication failure requirement from four to two, allowing more patients to qualify for treatment.

How many patients suffer from MDD in the U.S.?

Approximately 21 million adults in the U.S. are affected by major depressive disorder.

What is NeuroStar TMS therapy?

NeuroStar TMS is a non-drug, noninvasive treatment designed to help alleviate symptoms of drug-resistant depression.