Define CPT, HCPCS, ICD10, DRG, and RVU in your own words using 1-2 sentences for each term. I am looking to see if you understand the relevance of each item and the function they have in the medical field. How are these terms linked to healthcare payments and payor contracts? Think about the electronic capabilities these items carry and implement it into your response. Discussion

Use 1-2 sentences to define CPT, HCPCS and ICD10 in your own words. This is to test your understanding of the importance and function each item plays in medicine. What are the implications of these terms for healthcare payment and payer contracts? Consider the electronic capabilities of these items and how you can implement them into your responses.
Discussion
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To simplify reporting and increase efficiency, doctors and healthcare professionals can use the current procedural terminology (CPT), codes. Hickspicks is the common pronunciation for the Healthcare Common Procedure Coding System. This code set can be found on CPT. CPT and HCPCS have the exact same initial level (AAPC 2022). “ICD-10” is the tenth edition of International Classification of Diseases. It was created primarily by World Health Organization (WHO), to help medical codes classify diseases by groups of related conditions. These illnesses can be linked to specific medical problems, such as subtle disease and more severe morbidities. Medicare, along with certain companies offering health insurance, can help you calculate how much it will cost to cover your hospital stay. Medicare and private insurance companies pay a fixed amount, which is based upon your diagnosis-related group. The hospital does not have to be paid for every service (Davis 2002). Cont…
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