Neuraxis announces BCBS of Vermont medical policy coverage for PENFS

NeurAxis announced medical policy coverage for Percutaneous Electrical Nerve Field Stimulation, PENFS, for Blue Cross Blue Shield, BCBS, of Vermont Medical Members, effective 10/1/2024. This medical policy will bring our national total coverage for PENFS to roughly 23 million, with more decisions from major payers still pending. “We are excited regarding the coverage expansion in the state of Vermont, home to the renowned University of Vermont Children’s Hospital,” said Brian Carrico, President and Chief Executive Officer of NeurAxis. “We continue to make progress on our commercialization strategy goals for IB-Stim by increasing payer coverage to drive market adoption of our technology. We are on track to achieve our stated goal of having medical policy coverage for at least 50 million lives by the end of 2024, which will set the stage for a significant revenue ramp in late 2024 and into 2025,” Carrico concluded.