NeurAxis Achieves Significant Coverage Milestone
NeurAxis, Inc. (NYSE American: NRXS) is thrilled to announce an important development for its innovative medical technologies. The company has successfully secured medical policy coverage for its groundbreaking Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, known as IB-Stim, with Capital Blue Cross. This coverage is set to take effect on October 1, 2024.
Understanding PENFS Technology
PENFS is a non-invasive therapy specifically designed for managing chronic pain conditions, particularly in pediatric patients. IB-Stim, which is already FDA-cleared for treating functional abdominal pain tied to irritable bowel syndrome (IBS) in adolescents aged 11 to 18, uses gentle electrical impulses applied to nerve bundles in the ear. This innovative therapy provides a unique approach to patients suffering from disorders related to gut-brain interaction, where traditional pharmacologic treatments often lead to adverse side effects and limited evidence of effectiveness.
Impact on Patient Care
With the integration of PENFS into Capital Blue Cross's medical policy, NeurAxis is poised to enhance its patient outreach significantly across the Central Pennsylvania region. Brian Carrico, President and Chief Executive Officer of NeurAxis, expressed his enthusiasm regarding this development, acknowledging the research that supports the efficacy and recognition of the company's technology. He emphasized that the growing acceptance of PENFS among payers is a testament to its clinical validation.
Advancements in Neuromodulation Therapies
NeurAxis is at the forefront of advancing neuromodulation therapies, especially for those whoexperience chronic and debilitating conditions. Beyond the existing FDA clearance for IB-Stim, the company is actively pursuing additional clinical trials. These trials target both pediatric and adult populations who suffer from various unmet healthcare needs, highlighting NeurAxis's commitment to expanding treatment options and improving patient quality of life.
The Path Ahead for NeurAxis
As part of its future plans, NeurAxis is working closely with the American Medical Association regarding the establishment of a new CPT Category I code, effective January 1, 2026. This new coding is anticipated to further support the adoption of IB-Stim therapy across a broader patient demographic, thus paving the way for enhanced visibility and accessibility of the therapy within medical practices.
About NeurAxis, Inc.
NeurAxis, Inc. is dedicated to pioneering neuromodulation therapies that address chronic ailments in both adults and children. The company is committed to coupling scientific advancement with clinical evidence to promote the use of its IB-Stim technology. By focusing on neuromodulation approaches, NeurAxis strives to provide effective alternatives in the treatment landscape, where traditional therapies often fall short.
Frequently Asked Questions
What is the significance of the coverage by Capital Blue Cross?
This coverage allows greater accessibility for patients in Central Pennsylvania to receive innovative PENFS therapy, improving treatment options for chronic conditions.
How does IB-Stim work?
IB-Stim is a non-invasive device that delivers gentle electrical impulses to ear nerve bundles, helping manage abdominal pain without the use of pharmaceutical drugs.
Who can benefit from IB-Stim therapy?
Primarily, adolescents aged 11-18 experiencing functional abdominal pain related to IBS can benefit, but ongoing trials may extend its use to other demographics.
What advancements are expected from NeurAxis?
NeurAxis is actively conducting clinical trials aimed at expanding the applications of PENFS therapy for various pediatric and adult conditions.
What does the new CPT code mean for NeurAxis?
The new CPT Category I code, effective January 1, 2026, will enhance billing processes and recognition, supporting broader acceptance and use of IB-Stim therapy.
