Billing code 94621: Exercise testMedicare rate & RVUs

Medicare pays $165.67 for 94621 nationally in the office. Local office rates run $147.77–$220.87.

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

What 94621 covers

This test evaluates heart and lung responses during controlled exercise by measuring oxygen uptake and carbon dioxide production as workload increases. It is used when symptoms such as unexplained exertional dyspnea or poor exercise tolerance require assessment of cardiopulmonary function. Testing is commonly performed in a pulmonary or cardiac function laboratory, with trained staff conducting the exercise protocol and a qualified clinician interpreting the results.

Select 94621 when the service is a comprehensive cardiopulmonary exercise evaluation, rather than a simpler pulmonary stress test or a test aimed specifically at exercise-induced bronchospasm. Documentation should identify the clinical indication, exercise protocol, measurements obtained, patient response, and interpretation. CMS recognizes professional and technical components: report modifier 26 for the interpretation, modifier TC for equipment and staff, or no component modifier when billing the global service.

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 94621 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

94621 rates by state

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

How the 94621 rate is calculated

Each of 94621’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 94621

The CMS indicators that decide how 94621 is paid alongside other services.

What modifiers do to the payment

When to use modifier 26

94621 compared with similar codes

How to choose

94618Pulmonary stress test

94621 is the comprehensive cardiopulmonary test with oxygen uptake and carbon dioxide measurement. 94618 describes pulmonary stress testing without that same comprehensive gas-analysis focus.

94617Exercise bronchospasm test

Choose 94617 when the exercise test is intended to evaluate bronchospasm and includes ECG recording; 94621 evaluates broader cardiopulmonary responses during exercise.

94619Exercise challenge

94619 targets exercise-induced bronchospasm without ECG recording. 94621 is the comprehensive cardiopulmonary exercise evaluation.

94681Gas-exchange analysis

94681 focuses on oxygen uptake, carbon dioxide output, and oxygen extraction measurements. 94621 describes a comprehensive exercise evaluation rather than gas-exchange measurement alone.

Codes related to 94621

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