Effective March 15, 2021, the Centers for Medicare and Medicaid Services (CMS) is updating the Medicare payment rates for COVID-19 vaccine administration. According to the American Medical Association (AMA), “the Biden-Harris Administration nearly doubled Medicare payment for administration of the COVID-19 vaccine, including administration of vaccines requiring two doses, to $40 per administration.” This follows advocacy by AMA and several organizations to increase payment to ensure adequate reimbursement for the administration of life-saving vaccines for Medicare patients and to prevent out-of-pocket costs.
“These costs are described by the CPT Editorial Panel with the new CPT code 99072 and are now bundled into the new COVID immunization administration payments.” (AMA)
Hopefully, these updates will increase the desire and ability for more clinics to offer COVID-19 vaccines.
For more information and up-to-date billing codes, click here.