Neuronetics Launches Latest Evolution in its TrakStar® Patient Data Management System

Rhea-AI Summary

Neuronetics, Inc. (STIM) announces advancements to the TrakStar® Patient Data Management System, offering workflow efficiencies for NeuroStar® TMS providers. The update aims to streamline patient tracking and documentation for improved patient care processes.

Healthcare Technology Analyst

The introduction of advanced features to the TrakStar® Patient Data Management System by Neuronetics, Inc. represents a significant step in healthcare technology, particularly in the area of neurohealth. Enhancements that streamline practice operations and improve patient care processes could potentially lead to increased adoption rates of NeuroStar TMS among healthcare providers. This, in turn, might result in higher sales volumes and a stronger market position for Neuronetics.

From an operational standpoint, the ability to efficiently track and document patient status is crucial for the scalability of TMS practices. The enhancements could reduce administrative burdens and errors, leading to cost savings and improved patient outcomes. As practices become more efficient, they may be able to treat more patients without a proportional increase in overhead costs, potentially improving profit margins.

Medical Research Analyst

Transcranial magnetic stimulation (TMS) is a non-invasive treatment for neurohealth disorders, including depression. The effectiveness and safety of TMS are of paramount importance in its clinical adoption. Enhancements to the TrakStar® system that provide up-to-date and comprehensive patient information could improve treatment protocols and outcomes by enabling providers to make better-informed decisions.

Furthermore, the ability to manage and report outcomes effectively is crucial for ongoing clinical research and for demonstrating the value of TMS to insurers and other stakeholders. Improved data management and reporting capabilities could enhance the evidence base supporting TMS, potentially increasing insurance coverage and accessibility for patients.

Healthcare IT Compliance Expert

The mention of HIPAA compliance in the context of the TrakStar® Patient Data Management System is noteworthy. Compliance with healthcare regulations such as HIPAA is a critical factor for technology adoption in medical practices. The system's adherence to these standards ensures that patient data is managed securely, which is a key concern for both providers and patients.

By maintaining a strong focus on compliance, Neuronetics not only mitigates legal and financial risks but also builds trust with its users. As healthcare continues to digitize, the demand for compliant and secure data management solutions is likely to grow, positioning Neuronetics favorably within the competitive landscape.

Advancements provide workflow efficiencies for NeuroStar® TMS providers

MALVERN, Pa., Feb. 12, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, announced advancements to the TrakStar® Patient Data Management System, a proprietary, HIPAA-compliant, patient management and outcomes reporting system for providers using NeuroStar TMS (transcranial magnetic stimulation). The update introduces features to streamline the way practices track and document status for their potential and current patients.

"It's essential for healthcare providers to have the most recent technology that supports them in continuously improving patient care processes," stated Cory Anderson, SVP of R&D and Clinical. "These newest enhancements in TrakStar can facilitate better internal practice communication and visibility to up-to-date and comprehensive information about prospective and current NeuroStar patients." 

Included among the TrakStar developments are the ability to identify and filter potential patients by the contact method that led them to the practice, expanded methods for practices to update potential patient status, and the capability to identify reasons that existing and past patients ended treatment. All the features are designed to save practices time, allowing them to focus more on direct patient care rather than administrative tasks.

"My practice is here to provide our patients with the care and respect they deserve during their mental wellness journey," said Dr. Melissa Fickey, Founder of Embracing Life Wellness Center. "A big part of that is being able to easily understand where they are in the treatment process, and TrakStar helps us keep this information visible and accessible at our fingertips."

Another notable feature in this TrakStar release is a more robust Benefits Investigation report that provides practices with estimated patient financial responsibility prior to a patient beginning treatment. NeuroStar practices can now share this information with patients during the consultation process and provide immediate clarity in cost expectations from insurance providers.

These TrakStar features are available now for all cloud-based NeuroStar providers. For more information about NeuroStar TMS Therapy, please visit NeuroStar.com. 

About Neuronetics
Neuronetics, Inc. believes that mental health is as important as physical health. As a global leader in neuroscience, Neuronetics is redefining patient and physician expectations with its NeuroStar Advanced Therapy for Mental Health. NeuroStar is a non-drug, noninvasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication hasn’t helped. In the United States, NeuroStar is FDA-cleared for adults with major depressive disorder (MDD), as an adjunct for adults with obsessive-compulsive disorder (OCD), and to decrease anxiety symptoms in adult patients with MDD that may exhibit comorbid anxiety symptoms (anxious depression). NeuroStar Advanced Therapy is the leading transcranial magnetic stimulation (TMS) treatment for MDD in adults with over 5.9 million treatments delivered. NeuroStar is backed by the largest clinical data set of any TMS system for depression, including the world’s largest depression Outcomes Registry. Neuronetics is committed to transforming lives by offering an exceptional treatment that produces extraordinary results. For safety and prescribing information, www.neurostar.com.

Media Contact:
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What advancements did Neuronetics, Inc. (STIM) announce?

Neuronetics, Inc. (STIM) announced advancements to the TrakStar® Patient Data Management System.

What is the purpose of the TrakStar® Patient Data Management System update?

The update aims to streamline patient tracking and documentation for improved patient care processes.

Who stated the importance of having the latest technology for healthcare providers?

Cory Anderson, SVP of R&D and Clinical at Neuronetics, Inc. (STIM), emphasized the importance of technology supporting healthcare providers.

What is the focus of Neuronetics, Inc. (STIM) as a medical technology company?

Neuronetics, Inc. (STIM) focuses on designing, developing, and marketing products to improve the quality of life for patients with neurohealth disorders.