An interspinous process device is configured for placement between adjacent spinous processes on a subject's spine. The device includes a housing configured for mounting to a first spinal process, the housing having a lead screw fixedly secured at one end thereof. A magnetic assembly is at least partially disposed within the housing and configured for mounting to a second spinal process. The magnetic assembly includes a hollow magnet configured for rotation within the magnetic assembly, the hollow magnet comprising a threaded insert configured to engage with the lead screw. An externally applied magnetic field rotates the hollow magnet in a first direction or a second, opposite direction. Rotation of the hollow magnet in the first direction causes telescopic movement of the magnetic assembly out of the housing (i.e., elongation) and rotation in the second direction causes telescopic movement of the magnetic assembly into the housing (i.e., shortening).