Neuronetics Expands NeuroStar® Advanced Therapy’s Proprietary TrakStar® Platform

Rhea-AI Summary

Neuronetics (NASDAQ: STIM) has launched its first TrakStar® Patient Data Management System software update alongside an educational campaign titled Get There FASTER with TrakStar. This initiative is designed to help NeuroStar providers maximize the software’s features, enhancing patient access to treatment. The updates include a new electronic Benefits Investigation process, allowing practices to manage patient coverage and track individual outcomes more efficiently. With these enhancements, Neuronetics aims to improve healthcare delivery for patients with neurohealth disorders, reinforcing its commitment to transform lives through innovative technology.

Positive

• Launch of TrakStar updates aimed at improving patient data management.
• New educational campaign promoting usage of TrakStar for better healthcare delivery.
• Enhanced electronic Benefits Investigation process streamlining patient coverage assessment.

Negative

• None.

Company Launches a New Educational Campaign For Providers

MALVERN, Pa., Feb. 23, 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, announced its first of several TrakStar® Patient Data Management System software releases this year. In conjunction, the Company is launching a new educational campaign called “Get There FASTER with TrakStar,” which will encourage current and new NeuroStar providers to unlock all the potential features of TrakStar.

“It’s vitally important for providers to help their patients access treatment as soon as possible when they need it. TrakStar is the only tool of its kind that allows NeuroStar providers to seamlessly connect with and manage patients throughout their treatment process,” stated Cory Anderson, VP of R&D and Clinical. “As we continue to invest in TrakStar this year, the new campaign will highlight the current and future benefits it brings to our NeuroStar providers and their patients.”

The TrakStar enhancements include a new electronic Benefits Investigation (BI) process used to determine patient’s coverage and deductible before starting treatment. The enhancements add new features allowing customers to receive a new report when benefits renew, submit a BI for an existing patient returning for a subsequent round of treatment, and resubmit a BI if existing patients have a change in coverage. Practices will also have the option to send patients automated personal health questionnaires like the PHQ-9 and GAD-7 throughout the treatment in one message, securing their scores automatically in TrakStar and making it effortless to measure and quantify the patient’s individual outcomes.

“As I’ve embraced all that TrakStar can do and the ways it can help decrease my workload and increase my contact with past, current, and potential patients, I’m on board,” said Evie Jacobs, LCSW, Program Director at Indianapolis TMS. “I believe all practices can benefit and grow if they use TrakStar to its full potential.”

TrakStar is a proprietary, HIPAA-compliant patient data management and reporting system designed specifically to support NeuroStar TMS practices. The educational campaign is now live, and TrakStar updates are available now for all NeuroStar providers. For more information about NeuroStar, 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.

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FAQ

What is the significance of Neuronetics' TrakStar updates released in February 2023?

The TrakStar updates enhance patient data management capabilities for NeuroStar providers, improving efficiency in treatment access and patient engagement.

How does the educational campaign 'Get There FASTER with TrakStar' benefit providers?

The campaign encourages providers to utilize TrakStar's features fully, potentially increasing patient access to treatments and improving practice efficiency.

What are the benefits of the new electronic Benefits Investigation process in TrakStar?

This process allows practices to quickly determine patient coverage and deductible amounts, thus facilitating smoother treatment initiation.

Which company launched the TrakStar updates and educational campaign?

Neuronetics, Inc. launched the TrakStar updates and the associated educational campaign.