Neuronetics Announces Continued Momentum for Expanded Health Insurance Coverage for TMS Therapy

GlobeNewswire

MALVERN, Pa., April 13, 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 BlueCross BlueShield (BCBS) of Mississippi that allows TMS trained healthcare professionals to order and provide transcranial magnetic stimulation (TMS) treatment to their patients with major depressive disorder (MDD). This policy change increases access for patients to the Company’s NeuroStar^® Advanced Therapy for Mental Health.

“It’s heartening to see the momentum from payers that are recognizing the need for broader mental health coverage,” stated Keith J. Sullivan, President, and CEO of Neuronetics Inc. “Granting additional TMS trained healthcare professionals, such as nurse practitioners, authority to prescribe NeuroStar TMS and reducing the number of prior medication attempts will lead to improved access to care for patients.”

BCBS of Mississippi is the largest payer in the state with over 855,716 covered lives. An additional update in the revised policy is a lower medication requirement – reduced from four failed medications to two prior to TMS treatment. The BCBS policy update builds on recent momentum from health payers to expand coverage to TMS Therapy.

Neuronetics previously announced an updated NGS Medicare Policy allowing nurse practitioners to prescribe TMS. 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 5.3 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.