Menu
Menu
Question:
What is the consumer price index for 2022?
Answer:
As you may know, hospital outpatient claims are paid under a reasonable charge basis, with some provisions making specific rules about the charge. According to these regulations, the reasonable charge must not exceed the lowest actual charge of the customary or current charge for the previous 12-month period ending June 30, correlated with the inflation-indexed update. For 2022, the Consumer Price Index (CPI) update is 5.4%. Understand that the inflation-indexed update is calculated based on the change in the applicable CPI for the 12-month period which ends on June 30 of each year. CMS states that “Manual instructions for determining the reasonable charge payment can be found in Publication 100-04, Medicare Claims Processing Manual, Chapter 23, Section 80 through 80.8. If there is not sufficient charge data for a code, the instructions permit considering charges for other similar services and price lists.”
This question was answered in an edition of our Laboratory Compliance Manager. For more hot topics relating to laboratory services, please visit our store or call us at 1.800.252.1578, ext. 2.
CPT® copyright 2023 American Medical Association (AMA). All rights reserved.
Fee schedules, relative value units, conversion factors and/or related components are not assigned by the AMA, are not part of CPT, and the AMA is not recommending their use. The AMA does not directly or indirectly practice medicine or dispense medical services. The AMA assumes no liability for data contained or not contained herein.
CPT is a registered trademark of the American Medical Association.
Subscribe to receive our News, Insights, and Compliance Question of the Week delivered right to your inbox.
Address: 5874 Blackshire Path, #13, Inver Grove Heights, MN 55076
Phone: (800) 252-1578
Email: support@medlearnmedia.com
Hours: 9am – 5pm CT
Copyright © 2024 MedLearn Publishing. Powered by MedLearn Media.
Happy World Health Day! Our exclusive webcast, ‘2024 SDoH Update: Navigating Coding and Screening Assessment,’ is just $99 for a limited time! Use code WorldHealth24 at checkout.