Coverage criteria consistent with recent FDA clearance for NeuroStar TMS
MALVERN, Pa., July 22, 2024 (GLOBE NEWSWIRE) — Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced that Aetna has updated its TMS (transcranial magnetic stimulation) coverage to include adolescents aged 15 and older with MDD (major depressive disorder). This expanded access follows the recent clearance from the U.S. Food and Drug Administration (FDA) for NeuroStar TMS as the first and only TMS treatment cleared as a first-line add-on for adolescents aged 15-21.
The coverage criteria specify that TMS treatment must be administered by an FDA-cleared device in accordance with FDA labeled indications. Aetna is one of the largest health plans in the country with over 19.4 million lives covered through its commercial policies nationwide. The TMS policy update is effective immediately.
“We commend Aetna for being a leader among payors in recognizing the critical need to reduce barriers to proven treatments for adolescent mental health,” stated Keith J. Sullivan, President and CEO of Neuronetics, Inc. “Enabling earlier access to NeuroStar TMS as part of an individual’s care plan is a significant step payors can take toward helping to mitigate the mental health crisis affecting young people.”
This policy update builds on recent momentum from both commercial and government payers to expand adolescent coverage for TMS Therapy. Neuronetics previously announced updated policies through payers such as Medi-Cal and Humana. 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.
For more information about NeuroStar TMS Therapy, please visit www.neurostar.com.
About Adolescent Depression
Adolescent depression is a complex and challenging mental health condition that affects young individuals during the crucial period of adolescence. An estimated 4.3 million U.S. adolescents aged 15-21 are affected by MDDi. Depression amongst adolescents can disrupt crucial aspects of development, such as academic performance, relationships with peers and family members, and overall emotional well-being.
NeuroStar Advanced Therapy is indicated as an adjunct for the treatment of MDD in adolescent patients aged 15-21.
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 indicated for the treatment of depressive episodes and for decreasing anxiety symptoms for those who may exhibit comorbid anxiety symptoms in adult patients suffering from MDD and who failed to achieve satisfactory improvement from previous antidepressant medication treatment in the current episode. It is also FDA-cleared as an adjunct for adults with obsessive-compulsive disorder and for adolescent patients aged 15-21 with MDD. NeuroStar Advanced Therapy is the leading TMS treatment for MDD in adults with over 6.4 million treatments delivered. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety and prescribing information, visit www.neurostar.com.
Media Contact:
EvolveMKD
646.517.4220
NeuroStar@evolvemkd.com
iWorld Health Organization, Depression Fact Sheet. https://www.who.int/news-room/fact-sheets/detail/depression.
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