TMS is now more affordable than ever. Additionally, we have a dedicated insurance authorization and billing team that helps maximize a patient’s insurance coverage. We have experience in obtaining TMS coverage for depression by most major insurance carriers. We also are, at the time of this writing, the only TMS provider in Louisiana that is a contracted provider for Medicare for TMS, which means that Medicare will cover the TMS you receive at the TMS Center of New Orleans (subject to certain Medicare limitations). We also offer a significant discount to those not using insurance or not covered by insurance. At this time insurance carriers do not cover TMS treatment for OCD.
There are pros and cons to using insurance to pay for TMS. Using insurance can often lower the out of pocket cost to the patient, though this is not always the case with high deductible plans. Not using insurance can shorten the time to start TMS because insurance approval can sometimes take several weeks. Also, insurance will only cover one TMS treatment per day. When paying out of pocket, patients can receive several treatments in one day thus shortening the overall treatment period drastically.
TMS has consistently been shown to be more cost-effective when compared to medication treatment.
From a study done in 2015 by the Center of Applied Health Economics: "Although both pharmacotherapy and rTMS are clinically effective treatments for major depressive disorder, rTMS is shown to outperform antidepressants in terms of cost-effectiveness for patients who have failed at least two adequate courses of antidepressant medications." (Read the Full Study)
From a 2009 study published in Advances in Therapy: "TMS is a cost-effective treatment for patients who have failed to receive sufficient benefit from initial antidepressant pharmacotherapy. When used at earlier levels of treatment resistance, significant cost savings may be expected relative to the current standard of care." (Read the Full Study)