MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) announced that California Medicaid, known as Medi-Cal, will now cover transcranial magnetic stimulation (TMS) for both adults and adolescents aged 15 and older with major depressive disorder (MDD). This marks the first instance of Medi-Cal including TMS in its coverage.
Medi-Cal is California’s Medicaid program, providing no-cost and low-cost health coverage to eligible children and adults with limited income. The updated TMS policy, set to take effect on August 1, 2024, will impact 14.8 million individuals covered under Medi-Cal.
Keith J. Sullivan, President and CEO of Neuronetics, highlighted the significance of this development. “At a time when mental health services are more essential than ever, expanded access to NeuroStar TMS through Medi-Cal is a pivotal step in addressing the growing need for care among both adults and adolescents,” he stated. Sullivan emphasized that Neuronetics’ Health Policy team is dedicated to working with providers and payors to ensure policy updates that enhance treatment availability.
This expansion follows recent clearance from the U.S. Food and Drug Administration (FDA) for NeuroStar TMS as a first-line add-on treatment for adolescents aged 15-21. It also aligns with policy updates from other insurers like BlueCross BlueShield of Michigan, Cambia Health, and Humana, who have recently included TMS coverage for adolescents.
The inclusion of TMS in Medi-Cal represents a significant advancement in mental health care accessibility, offering a new treatment option for thousands in California suffering from MDD.
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