As a mental health clinic specializing in treating patients with treatment-resistant depression, we understand the challenges of finding affordable and effective treatment options. Deep Transcranial Magnetic Stimulation (TMS) therapy is a non-invasive treatment that uses magnetic pulses to alleviate symptoms of depression by increasing brain activity in the prefrontal cortex. In this article, we’ll discuss TMS therapy costs, how many treatments are necessary, what insurance covers, additional costs to consider, expected results, side effects, and the benefits of TMS therapy. 

How Much Does Deep TMS Therapy Cost?

TMS therapy costs vary based on several factors, including the number of treatments required, location, and other factors. On average, a single session of TMS therapy costs between $300 and $500, but one should also note that there is a huge difference between rTMS and dTMS and costs can vary. 

Deep TMS Therapy Insurance Coverage at a Glance

Insurer	Covers Deep TMS?	Key Criteria
Anthem BCBS	Yes	MDD diagnosis; ≥2 medication trials + psychotherapy
Aetna	Yes	Medical necessity; no 4-month therapy requirement
Cigna	Yes	DSM diagnosis; ≥2 med trials, psychotherapy + rating scales
UnitedHealthcare	Yes	Age 18+; MDD; failed psychotherapy and multiple meds
Medicaid (Colorado)	No	Not covered in Colorado

Do you want to know how much TMS will cost with your insurance coverage?

If you’re confused about the difference between a copay and coinsurance, deductible and out-of-pocket max, you are not alone.

Book a free financial consultation with our expert Rachel!

At your appointment, we’ll tell you:

1. What your insurance plan requires to cover treatment
2. Your estimated out-of-pocket cost
3. If you qualify for financial assistance programs

We believe that costs should not be the only reason you don’t get the mental health care. Ask Rachel about payment plans, alternative payments, and more on your call.

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How Many Sessions of TMS Do You Need?

A full course of treatment typically involves 20-36 sessions and the treatment schedule depends on whether you’re getting rTMS or dTMS. With rTMS, the schedule is typically 5 days a week for 6 weeks. With dTMS, it’s 5 days a week for 4 weeks, and 2x a week for 8 weeks. The total cost of TMS treatment for depression can range from $6,000 to $15,000.

Most patients do not pay for TMS out-of-pocket. However, the cost of TMS therapy without insurance is $300 per treatment.

Newer, accelerated protocols, such as the 6-day treatment, is not covered by insurance and is available for cash pay only. Please contact our offices for more details.

Will Insurance Cover TMS Therapy Costs?

Many patients ask “how much is TMS therapy with insurance?” The answer is that most insurance plans we accept do cover TMS after a patient has been diagnosed with treatment-resistant depression. This is typically defined as having failed 2 or more antidepressants. You can view our benefits guides for commercial payers to get a better sense of what mental health benefits each payer covers and the requirements for coverage. Unfortunately, despite 16 other states covering TMS by state Medicaid programs, Colorado Medicaid currently does not. Because we believe so strongly in increasing access to this life-changing treatment option, we have personally funded a scholarship program to cover patients with financial need who may be interested in TMS. This makes Axis Integrated Mental Health THE ONLY clinic in Colorado to provide TMS therapy to those in need. 

• TMS Coverage for Anthem/BCBS
• TMS Coverage for Aetna
• TMS Coverage for Cigna
• TMS Coverage for United Healthcare

No matter what your insurance plan is and regardless of the treatment selected, we will work with you to treat your condition at the lowest possible cost. This includes working with your insurance provider to secure prior authorizations to cover TMS therapy costs before treatment so there are no surprises.

Additional Costs to Consider with TMS Therapy

Unlike ketamine therapy and Spravato, you do not need an alternative transportation plan after TMS therapy. Because there is virtually no downtime, you can do the 20-30-minute treatment over a lunch break, and return to work after the treatment.  

The only additional costs beyond the TMS therapy sessions are your fees for initial consultations, assessments, or follow-up appointments, which are all covered by insurance.  

Expected Results, Side Effects, and Benefits of TMS Therapy

Approximately 82% of patients who have failed with traditional antidepressants report some benefit to TMS therapy. 65% go into remission. This makes it the most effective treatment option for depression available, including IV ketamine. Patients who receive TMS therapy report a reduction in symptoms of depression, including improved mood, increased energy, and better sleep. TMS therapy is generally considered safe and well-tolerated, with minimal side effects, such as mild scalp discomfort or headaches. The most significant advantage of TMS therapy is that it can be effective for individuals who have not responded to other depression treatments, making it a valuable option for those with treatment-resistant depression or major depressive disorder. 

Benefits of TMS for patients include minimal side effects, no downtime and the fact that it is drug-free. TMS is particularly useful for teenage depression as it is FDA approved for ages 15 and up (although insurance varies on what it will cover for the under 18 crowd). TMS is so safe that many people use it to build neuroplasticity for performance enhancement and as a biohack. Some of the disadvantages is the time commitment required.

TMS vs. Ketamine Therapy: Daily Life Comparison

Factor	Deep TMS	Ketamine Therapy (IV or Spravato)
Driving After Treatment	Yes, safe to drive immediately (no sedation)	No, must arrange a ride home due to dissociation/sedation risk
Work Impact	Can return to work immediately; no cognitive impairment	Usually requires the rest of the day off; temporary cognitive effects possible
Session Length	~20 minutes treatment, 30 minutes total visit	IV: 40–60 min infusion + 30–60 min recovery; Spravato: ~2 hours total clinic time
Exercise	Allowed immediately; encouraged to enhance results	Should avoid intense activity for the remainder of the day due to sedation
Frequency	Daily, 5 days/week for 6–9 weeks	Typically 2x/week for 4–6 weeks (may extend to maintenance)
Cognitive Effects	None; may improve clarity over time	Temporary confusion, dissociation, or slowed reaction time is possible
Lifestyle Disruption	Minimal; fits into daily schedule	Higher, requires planning around side effects and transportation
Synergy with Lifestyle	Sleep, exercise, and nutrition can boost neuroplasticity effects	Healthy habits still help, but acute sedation limits same-day activity

Who Should Try TMS Therapy?

Transcranial Magnetic Stimulation (TMS) therapy is a non-invasive and relatively safe treatment option for individuals with depression and some other neurological and psychiatric conditions. It is particularly helpful for those who suffer with “anxious depression”.

TMS therapy may be a good option for individuals who have tried other forms of treatment for depression, such as medication and psychotherapy, but have not seen significant improvement in their symptoms. It may also be a good choice for individuals who cannot tolerate the side effects of antidepressant medications or who do not want to take medication for personal or medical reasons. 

TMS is also FDA approved for nicotine cessation and OCD and off-label for other psychiatric conditions like PTSD. Please note that insurance does not cover treatment for any conditions outside of depression but we work with many patients on a cashpay basis. 

Who Should NOT Attempt TMS Therapy?

Deep Transcranial Magnetic Stimulation (dTMS) therapy is generally considered a safe and well-tolerated treatment for depression and some other neurological and psychiatric disorders. However, there are certain situations and conditions where TMS therapy may not be suitable. These include: 

1. People with metallic or electronic devices in or near their head – TMS uses a strong magnetic field to stimulate the brain, which can interfere with metallic or electronic devices like pacemakers, cochlear implants, aneurysm clips, and certain types of dental work. People with these devices should not undergo TMS therapy.   
2. People with a history of brain injury or neurological disorders – TMS may not be effective or safe for individuals with a history of brain injury or neurological disorders, such as stroke or multiple sclerosis.  

At Axis Integrated Mental Health, your psychiatrist will discuss any medical conditions or concerns with you before starting TMS therapy to determine if it is appropriate for you. 

Is TMS the Same Thing as Electroconvulsive Therapy (ECT)?

TMS is not the same thing as ECT or “shock therapy” as it is known to some. TMS does not require anesthesia and doesn’t cause the same memory loss problems and cognition that some patients have experienced with ECT. We do not offer ECT at Axis Integrated Mental Health.

What Are the Advantages of TMS vs. Ketamine Treatment?

TMS therapy is a safe and effective treatment option for individuals with treatment-resistant depression and may be preferred to ketamine therapy for several key reasons:

• Requires no downtime: Patients undergoing TMS treatment can drive and go back to work after the treatment.
• TMS is covered by most insurance plans: With the exception of Medicaid, TMS expenses are covered by most insurance plans making it a more affordable option than ketamine infusion, which can only be paid for out-of-pocket.
• No medication required: TMS therapy uses magnetic stimulation to treat patients. It is particularly helpful for patients who are trying to reduce their medication burden or, who cannot take medications for personal or medical reasons e.g. because of pregnancy or breastfeeding.

Can I Get TMS Therapy at the Same Time as Ketamine Treatments?

Not only is this possible, we actively encourage patients suffering from severe depression to do both treatments. In our experience, patients who have completed both treatments not only experience the best outcomes but are able to reduce their medication load significantly or go into complete remission from depression and anxiety. Moreover, their results last longer resulting in reduced reliance on daily medications. Speak to your provider about your insurance benefits and if there are any specific requirements for prior authorizations before starting treatment. The order of treatment may significantly reduce costs overall. Moreover, you may also want to consider paid mental health leave while doing treatment to reduce your overall stress levels and focus on healing.

 

Can You do TMS/dTMS While Using Alcohol or Illegal Drugs? 

While deep TMS (dTMS) shows promising results for reducing cravings and and supporting recovery, most clinical studies have focused on patients who were already sober or in early recovery, and not those in active addiction. Illicit substances can unpredictably change brain excitability and, depending on the class (alcohol, stimulants, sedatives, synthetic opioids, etc.), may raise the risk of adverse events or complicate responses to stimulation. For that reason, dTMS sessions should never be conducted while a person is acutely intoxicated or in active withdrawal; clinics routinely screen patients before each treatment to confirm medical stability, absence of intoxication, and readiness for stimulation. In practical terms, this doesn’t mean dTMS is unsafe for everyone who drinks, but sessions need to be closely monitored. Patients must be honest about their drinking so that the technician can recheck motor threshold (the maximum power that should be used) since substances like alcohol and illegal drugs can lower motor threshold, and increase the chance of seizure. For those who have achieved at least short-term sobriety, dTMS can be a safe and powerful tool to strengthen self-control, reduce cravings, and support long-term recovery when combined with therapy and medication-assisted treatment.

 

How Can I Get an Estimate for TMS Therapy Costs in Denver, Westminster or Boulder?

Axis Integrated Mental Health is a leading provider of Deep TMS Therapy in Denver, Westminster, and Boulder, Colorado. To get an accurate estimate for Deep TMS Therapy costs in Denver, call or text us at (720) 400-7025 or book an intake appointment with our psychiatrists to understand the full range of treatment options we offer for depression and anxiety.