For the first time, rTMS short for Repetitive Transcranial Magnetic Stimulation, is being added to the Medicare Benefits Schedule at a cost of $288.5 million.
rTMS is a successful last resort depression treatment that involves an electromagnetic coil being placed on a patient’s scalp where a magnetic pulse stimulates nerve cells in the area of the brain involving mood control and depression.
Currently the treatment costs between $3,500 to $5,000 and while doctors warn it is not a cure, they say it has strong efficacy and low side effects.