Date of this Version
9-26-2019
Document Type
Book Chapters
Summary
- 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.
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Recommended Citation
Kuo, Tai-Yun and Manaker, Scott
(2019)
"Reimbursement Strategies and CPT Codes for Device Development,"
Academic Entrepreneurship for Medical and Health Scientists: Vol. 1
:
Iss.
3
, Article 9.
Available at:
https://repository.upenn.edu/ace/vol1/iss3/9