BrainsWay Ltd. announced that several U.S. payers—including Optum/United Behavioral Health, First Coast, National Government Services, Novitas, the U.S. Department of Veterans Affairs, and TRICARE West—have revised their coverage policies to allow psychiatric mental‑health nurse practitioners (PMHNPs) to order, supervise, and administer the company’s Deep TMS therapy. The Optum update, which took effect in late 2025, now covers approximately 34.8 million lives under its commercial plans.
By expanding the clinician pool eligible to deliver Deep TMS, BrainsWay can address psychiatrist shortages in many markets, reduce patient wait times, and increase treatment capacity at partner clinics. The broader coverage is expected to accelerate adoption of BrainsWay’s proprietary H‑Coil technology and support the company’s platform strategy of scaling through minority investments in mental‑health providers.
BrainsWay remains the leading provider of FDA‑cleared Deep TMS systems for major depressive disorder, obsessive‑compulsive disorder, and smoking addiction. The payer expansion reinforces the growing acceptance of Deep TMS as a reimbursable treatment and positions the company to capture a larger share of the expanding market for non‑pharmacologic mental‑health therapies.
CEO Hadar Levy said, "This continued evolution in payer policy reflects a broader effort to remove structural barriers to proven mental‑health care options such as Deep TMS. Expanding the pool of qualified clinicians who can administer Deep TMS – especially in markets experiencing psychiatrist shortages – has the potential to improve access, reduce wait times, and help ensure that more patients can benefit from clinically proven, non‑pharmacologic treatment options."
The coverage expansion is part of a broader trend of payer acceptance of TMS therapy and is a tailwind for BrainsWay’s 2026 revenue guidance of $66‑$68 million, reflecting a 27‑30% growth outlook after a 27% year‑over‑year revenue increase in 2025. The company’s strong financial performance and FDA clearances underpin confidence that the expanded coverage will translate into higher utilization and revenue growth.
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