MALVERN, Pa., April 28, 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 that United HealthCare has updated their Medicare Advantage policy in states covered by National Government Services (NGS) Medicare.
This policy expansion increases access for patients to the Company’s NeuroStar® Advanced Therapy for Mental Health by adopting the recently announced NGS Medicare criteria allowing non-physician practitioners (NPPs), like nurse practitioners, to order and administer TMS Therapy to their patients with major depressive disorder (MDD) in states where they have scope of practice to do so.
“It feels as though we’re at a tipping point with both commercial and government payers in their support for mental health coverage, including access to TMS Therapy,” stated Keith J. Sullivan, President, and CEO of Neuronetics Inc. “Our health policy team is unwavering in their efforts and commitment to collaborating with NeuroStar providers and payers, and it’s exciting to see these continuing coverage trends.”
Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare to cover benefits costs for plan participants. United HealthCare Medicare Advantage plans implementing the National Government Services criteria include 434,262 covered lives in CT, MA, ME, MN, NH, NY, RI, and VT.
Neuronetics previously announced updates to United HealthCare Optum’s commercial policy that expands TMS access for over 23 million covered lives. 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.
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.
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