NeurAxis Expands Coverage for Innovative Nerve Stimulation Therapy
NeurAxis, Inc. (NYSE American: NRXS), a leader in medical technology focused on breakthrough neuromodulation therapies, has made a significant advancement in patient care. The company proudly announces new medical policy coverage for its Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, IB-Stim, through a prominent insurer, extending access to approximately 5.1 million members across multiple states.
Understanding the IB-Stim Technology
The IB-Stim device is specifically engineered to address functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents aged 8 to 21 years. Cleared by the FDA, IB-Stim operates non-surgically by delivering gentle electrical impulses to cranial nerve bundles located in the ear, providing a non-invasive treatment option for young patients.
The Need for Innovative Solutions
For children experiencing abdominal pain related to gut-brain interactions, the options are often limited and can involve serious side effects from off-label pharmacologic treatments. IB-Stim serves as a promising alternative, filling a critical gap in the treatment landscape. With no FDA-approved drug therapies specifically for this demographic, the introduction of IB-Stim marks an important milestone in pediatric healthcare.
A Milestone in Insurance Coverage
Brian Carrico, President and CEO of NeurAxis, expressed excitement over this new insurance coverage, noting it signifies the company's strategic entry into states such as Michigan, Illinois, New York, and Texas, among others. This achievement reflects the company's robust research foundation, which increasingly supports broader insurance acceptance for the IB-Stim device.
Impact on Patient Access
From a mere 4 million lives covered last year, the coverage now extends to 51 million lives—a substantial leap that demonstrates the growing recognition of IB-Stim’s efficacy. The recent introduction of a new CPT I code and the expanded age range for eligible patients allow NeurAxis to provide care for the approximately 600,000 individuals afflicted by IBS, thereby enhancing patient access to necessary therapies.
About NeurAxis, Inc.
NeurAxis, Inc. is steadfast in its mission to develop neuromodulation therapies that address debilitating and chronic conditions impacting both children and adults. Through evidence-based medicine, the organization champions the adoption of its proprietary IB-Stim™ therapy, ensuring it is recognized in the medical and scientific communities. Meanwhile, ongoing clinical trials explore further applications of PENFS technology across various pediatric and adult health challenges, aiming to benefit populations with significant unmet healthcare needs.
Commitment to Research and Development
With rigorous clinical research underway, NeurAxis is committed to advancing the capabilities of its technology to address broader health issues. The ongoing exploration of PB-Stim for potential applications beyond IBS reflects the company’s dedication to innovation in medical treatment.
Frequently Asked Questions
What is IB-Stim and how does it work?
IB-Stim is a non-invasive device that uses gentle electrical impulses to alleviate functional abdominal pain associated with IBS in adolescents.
Why is the new insurance coverage significant?
This new coverage expands access to IB-Stim for about 5.1 million lives across several states, making this therapy more available to those in need.
What ages does the IB-Stim therapy cover?
IB-Stim therapy is FDA-cleared for adolescents aged 8 to 21 years old experiencing functional abdominal pain.
What was the previous coverage before this announcement?
Prior to this announcement, the insurance coverage for IB-Stim reached only 4 million lives, highlighting significant growth in access.
How is NeurAxis impacting healthcare for IBS?
By providing an innovative therapeutic option that has no FDA-approved drug therapies for children, NeurAxis is significantly enhancing treatment avenues for IBS.
