MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) announced that Aetna has updated its coverage policy for transcranial magnetic stimulation (TMS) to include adolescents aged 15 and older with major depressive disorder (MDD). This follows the FDA’s recent clearance of NeuroStar TMS as the first and only TMS treatment approved as a first-line add-on for adolescents aged 15-21.
The new coverage criteria require that TMS treatment be administered using an FDA-cleared device and in accordance with FDA-labeled indications. With over 19.4 million lives covered through its commercial policies nationwide, Aetna is one of the largest health plans in the country. The 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,” said 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.”
Neuronetics’ NeuroStar TMS is a non-invasive treatment that uses magnetic fields to stimulate nerve cells in the brain, aiming to improve symptoms of depression. The FDA clearance and Aetna’s policy update mark significant advancements in making this treatment more accessible to adolescents struggling with MDD.
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