CPT code 94761: Pulse oximetry, multiple determinations2026 Medicare rate & RVUs

Medicare pays $4.34 for 94761 nationally in the office. Local office rates run $3.61–$5.96.

Medicare allowed amount for participating (non-QP) physicians, before deductible, coinsurance and claim adjustments. Not a patient’s bill or a hospital charge.

What 94761 covers

94761 represents multiple noninvasive oxygen-saturation readings obtained with an ear or finger pulse-oximeter sensor, rather than one isolated reading or continuous overnight monitoring. A common use is documenting saturation at rest and during exertion when evaluating exertional desaturation. The service is typically performed in a physician office or outpatient setting by clinical staff under a clinician’s direction, with the readings informing cardiopulmonary assessment.

Report the multiple-determination service as a whole, not one unit for each displayed reading. Documentation should identify the readings and circumstances, such as rest versus exercise, and note oxygen being delivered when relevant. CMS classifies 94761 as technical-component-only; interpretation is covered under a separate code. CMS also places it in an injection or minor-service payment category that is paid only when no other physician service is billed for the same date, so same-day physician-service billing affects payment.

This summary was written with AI assistance from CMS physician fee schedule data and checked against the CMS billing rules shown here. Rates on this page come directly from CMS files.

Where 94761 pays more and less

The same RVUs, adjusted for each area’s costs. Open a locality for its calculation, history and nearby areas.

109 of 109 payment localities

94761 rates by state

Office rate range in each state. Select a state to see its payment localities.

How the 94761 rate is calculated

Each of 94761’s three RVUs is multiplied by a geographic index (GPCI) for the payment locality, added up, and multiplied by the conversion factor. Drag the indexes or enter a ZIP to see what moves the rate.

Payment rules and modifiers for 94761

The CMS indicators that decide how 94761 is paid alongside other services.

94761 compared with similar codes

How to choose

94760Pulse oximetrySingle determination

94760 is for one oxygen-saturation determination. Choose 94761 when multiple determinations are obtained, such as at rest and during exertion.

94762Overnight oximetryContinuous overnight monitoring

94762 represents continuous overnight monitoring. 94761 is for multiple determinations rather than an overnight recording.

94618Pulmonary stress testSimple exercise assessment

94618 describes a pulmonary stress test that includes oxygen-saturation measurement. Use 94761 for multiple oximetry determinations when a broader pulmonary stress test is not the service performed.

Codes related to 94761

Related codes aren’t interchangeable: bill the code that matches the service performed.

Where these rates come from

FeeBase calculates base physician payments from CMS work, practice-expense and malpractice RVUs, adjusted by each locality’s geographic indexes and the conversion factor. Services without a published rate are labeled, never given a made-up amount. Amounts are Medicare allowed amounts before claim adjustments: not a patient’s bill or a commercial rate.

CMS RVU26D · effective Oct 1, 2026 through the day before Jan 1, 2027

Open CMS sourceHow we calculate rates