Episode 21: CPT Codes and How You Get Paid in Medicare Mastering Medicare

Discussion topic: Getting paid through the Medicare system
Introduction to CPT codes and HICPICS codes
Medicare's payment process for healthcare providers
Future guests and topics related to Medicare reimbursement
Mention of the Aging Here newsletter and interview opportunities
Differentiating between CPT codes and ICD-10 codes
History and purpose of CPT codes
Explanation of RVUs (Relative Value Units) and how doctors are paid
Simplified process of submitting CPT codes to Medicare for payment
Potential fraud issues in fee-for-service Medicare
Importance of documentation and medical necessity for CPT codes
Challenges with lack of comprehensive guidelines for new codes
Providers struggle with the interpretation and utilization of CPT codes.
Some codes are rarely utilized, while others require expertise to maximize billing.
Coding rules can be complex, with restrictions on code combinations and frequency of billing.
Providers face the risk of financial penalties or legal consequences for incorrect coding.
Medicare is a significant payer and requires compliance with its rules.
Physicians, nurse practitioners, and physician assistants primarily use CPT codes.
Modifiers can be used to bill for additional services or special circumstances.
Hospice CPT codes exist separately from Part B coding.
CPT codes have RVUs (Relative Value Units) that determine payment.
RVUs are divided into work RVUs, which assess the labor involved in a procedure.
Work RVUs consider time, technical skill, physical effort, mental effort, judgment, and stress.
Work RVUs are subject to negotiation and lobbying each year.
The conversion factor translates RVUs into payment amounts.
The conversion factor is subject to annual adjustments and can significantly impact reimbursement.