Date of this Version
- Reimbursement refers to the complicated process by which physicians and hospitals deliver products and services and then receive payment from third-party payers.
- Reimbursement consists of three factors: coding, coverage, and payment.
- The Current Procedural Terminology (CPT) codes include category I, II, and III codes, each with a different purpose and criteria.
- Requesting a new CPT code for a new device is a complicated and lengthy process, so an early understanding of the process is important to identifying the necessary resources.
- Working with CPT code consultants and a medical specialty society can help a startup obtain new CPT codes to ensure reimbursement for new medical devices, or determine if the new device fits within an existing CPT code.
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Kuo, Tai-Yun and Manaker, Scott
"Reimbursement Strategies and CPT Codes for Device Development,"
Academic Entrepreneurship for Medical and Health Scientists: Vol. 1
, Article 9.
Available at: https://repository.upenn.edu/ace/vol1/iss3/9