Neuronetics, Inc. 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.
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.
