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Following closely on the recent billing codes released by the Centers for Medicare & Medicaid Services (CMS), the federal agency is now allowing clinical laboratories to know what Medicare reimbursement they will receive for performing COVID-19 tests on patients. The amounts are typically $36 and $51 for CDC and non-CDC test kits, respectively. However, these numbers could vary.
CMS released new Healthcare Common Procedure Coding System (HCPCS) codes on March 5 and February 13 for healthcare providers and labs to check patients for COVID-19. HCPCS code (U0001) is intended to acquire diagnostic research carried out by accredited laboratories using CDC tests. The other code (U0002) will be used to bill COVID-19 for all non-CDC laboratory tests, including those produced in-house under the most recent FDA guidelines.
The World Health Organization has officially deemed COVID-19 a pandemic and it is putting tremendous strain on the healthcare system, particularly here in the United States. Industry leaders have expressed fears that resources are not adequate to handle a large influx of people that may be infected with the virus.
Diagnostic testing will likely play a critical role in monitoring virus spread and maintaining hospital capacity as the number of COVID-19 cases grow. To read more, https://revcycleintelligence.com/news/cms-releases-medicare-reimbursement-details-for-covid-19-tests.
This update is provided by CareOptimize. We provide healthcare management consulting services and products and we’ve helped numerous healthcare organizations succeed for more than a decade. We provide managed care solutions as well as products like coding modules, next-generation EHR utilities, MIPS consulting, and more. For more information, please call 855.937.8475.