Louisiana Insurer Expands Deep TMS Access for 1.9 Million Covered Lives

BURLINGTON, Mass. and JERUSALEM, Nov. 20, 2023 (GLOBE NEWSWIRE) -- BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, today announced that Blue Cross Blue Shield of Louisiana (BCBS of LA) has joined the growing list of payors reducing the patient eligibility requirements for transcranial magnetic stimulation (TMS) treatment from four failed medication trials to two.

BCBS of LA’s recent policy update aligns with the growing body of scientific evidence supporting the use of Deep TMS earlier in the treatment journey and underscores the insurer’s commitment to ensuring that patients have timely access to cutting-edge therapies. With 1.9 million covered lives, BCBS of LA provides coverage for more than 40% of Louisiana’s residents. This reduction in eligibility criteria signifies a progressive step forward in mental health care, emphasizing the importance of evidence-based treatments and acknowledging the evolving landscape of noninvasive neurostimulation.

“We applaud BCBS of LA’s dedication to advancing mental health coverage and facilitating improved outcomes for individuals grappling with mental health conditions,” said Hadar Levy, Chief Executive Officer of BrainsWay. “Treatment-resistant depression patients often spend years of treatment and trials with limited relief, and this policy update will effectively reduce the barriers for these patients in gaining earlier access to our lifechanging technology.”

Antidepressant medication trials often require weeks or months to determine if they are benefiting patients struggling with depression, the main cause of disability worldwide. Thus, the BCBA of LA and other similar policy changes reducing prior medication failure requirements enable significantly quicker access to depression relief for many treatment-resistant patients. 

In a recent post-marketing analysis of 1,753 subjects, Deep TMS was shown to reduce depression symptoms by 50% or greater in four out of five depression patients, and two out of three patients achieved remission.

About BrainsWay
BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The Company is boldly advancing neuroscience with its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) platform technology to improve health and transform lives. BrainsWay is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal clinical studies demonstrating clinically proven efficacy. Current indications include major depressive disorder (including reduction of anxiety symptoms, commonly referred to as anxious depression), obsessive-compulsive disorder, and smoking addiction. The Company is dedicated to leading through superior science and building on its unparalleled body of clinical evidence. Additional clinical trials of Deep TMS in various psychiatric, neurological, and addiction disorders are underway. Founded in 2003, with offices in Burlington, MA and Jerusalem, Israel, BrainsWay is committed to increasing global awareness of and broad access to Deep TMS. For the latest news and information about BrainsWay, please visit www.brainsway.com.