BrainsWay (BWAY)

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BrainsWay gets local coverage determination for BrainsWay Deep TMS to treat OCD

Jan. 31, 2022 3:15 PM ETBrainsWay Ltd. (BWAY)

By: Ravikash, SA News Editor

BrainsWay (BWAY +7.4%) said a final Local Coverage Determination (LCD) was published providing coverage applicable to the BrainsWay Deep TMS system to treat obsessive-compulsive disorder (OCD).

The company said the final LCD, which will be effective on March 13, was issued by the Medicare Administrative Contractor (MAC) Palmetto GBA, which covers Medicare patients in Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia, representing over 9 million covered lives.

"This final LCD is supported by the large body of compelling clinical evidence demonstrating the meaningful benefits derived by OCD patients from treatment with our innovative Deep TMS technology," said President and CEO Christopher von Jako