Neuronetics Announces Continued Momentum From Health Plans For TMS Therapy Coverage
Portfolio Pulse from Benzinga Newsdesk
Neuronetics, Inc. (NASDAQ:STIM) announced healthcare policy updates from Magellan, BlueCross BlueShield (BCBS) of Kansas City, and Dean Health Plan that increase access to the company's NeuroStar Advanced Therapy. The changes reduce the number of prior antidepressant medication failures required for coverage of transcranial magnetic stimulation (TMS) therapy for major depressive disorder (MDD). The updates from BCBS Kansas City and Dean Health Plan are effective immediately, while the Magellan update will take effect on November 18, 2023.
November 09, 2023 | 1:39 pm
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POSITIVE IMPACT
Neuronetics' NeuroStar Advanced Therapy will be more accessible due to policy updates from Magellan, BCBS of Kansas City, and Dean Health Plan. This could potentially increase the company's customer base and revenue.
The policy updates from major health plans reduce the barriers for patients to receive Neuronetics' NeuroStar Advanced Therapy. This could lead to an increase in the number of patients using the therapy, potentially boosting the company's revenue. The immediate effect of the updates from BCBS Kansas City and Dean Health Plan could result in a short-term positive impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100