Neuronetics, Inc. (NASDAQ:STIM) Q4 2022 Earnings Call Transcript

Keith Sullivan: So, Bill, we monitor the utilization on all segments of our accounts every single week. And Greenbrook’s utilization has decreased over the past five months, which I think as we’ve said before and they have said, I think it’s expected that there would be some disruption. But we saw a significant amount of decline in their growth in Q4 and we were able to grow in spite of it. I think that if we are able to deploy the trainings and the education that we are doing with the rest of our accounts into Greenbrook, which I think Bill is very, very supportive of us working closer together to get that done. I think we can help them get back on track. But we did see the decline in the third and the fourth quarter.

Bill Plovanic: Okay. And then just clarity on the impact of the NGS starting on April 1, getting the nurse practitioners to order and treat. How important or significant is that?

Keith Sullivan: It’s a great question. So, we have been looking state-by-state, payer-by-payer at the opportunity that’s out there with nurse practitioners. Some of the states have, say that nurse practitioners have full authority if they have been under the guidance of a psychiatrist for five years. During the pandemic, Virginia as an example lowered the requirement under a psychiatrist to two years. But they have since reversed that and gone back to five. So, there are areas of the country where nurse practitioners are allowed to diagnose the patient, to do the motor threshold and to treat. And we are beginning the process of identifying what areas that is and then how we’re going to educate those nurse practitioners on the opportunity to help their patients.

Bill Plovanic: Great. Thanks for taking my questions.

Keith Sullivan: Thanks, Bill.

Operator: Thank you. There are no further questions at this time. I’d like to turn the call back over to Keith Sullivan for closing remarks.

Keith Sullivan: Thank you again for joining us today. We look forward to updating you on our next quarterly call. Thank you all.

Operator: Ladies and gentlemen, this does conclude the program. You may now disconnect. Everyone, have a great day.