Cost analysis for CPT 90868 — Treatment using magnetic field to stimulate nerve cells in brain, subsequent delivery and management
Average Medicare Payment
$133.42
2023 data
Total Payments (2023)
$22.2M
Services (2023)
162.4K
Price Change (2014–2023)
+5.4%
| Year | Avg Payment | Total Payments | Services | YoY Change |
|---|---|---|---|---|
| 2014 | $126.60 | $1.8M | 13.4K | — |
| 2015 | $134.75 | $4.0M | 29.1K | +6.4% |
| 2016 | $132.53 | $5.5M | 40.8K | -1.6% |
| 2017 | $128.40 | $9.1M | 69.1K | -3.1% |
| 2018 | $122.82 | $13.1M | 101.9K | -4.3% |
| 2019 | $131.06 | $18.5M | 139.2K | +6.7% |
| 2020 | $128.33 | $16.3M | 122.2K | -2.1% |
| 2021 | $133.89 | $20.4M | 145.4K | +4.3% |
| 2022 | $133.13 | $21.0M | 152.1K | -0.6% |
| 2023 | $133.42 | $22.2M | 162.4K | +0.2% |
The most expensive state pays 8.6x more than the cheapest for this procedure. CT averages $173.39 vs NM at $20.22.
| State | Avg Payment | Total Payments | Services | Providers |
|---|---|---|---|---|
| CT | $173.39 | $379.4K | 2.2K | 4 |
| MN | $172.34 | $331.9K | 1.9K | 8 |
| MA | $171.81 | $1.5M | 8.9K | 19 |
| ME | $170.97 | $51.1K | 299 | 1 |
| RI | $169.91 | $224.1K | 1.3K | 5 |
| NJ | $167.70 | $1.3M | 7.9K | 9 |
| WI | $166.56 | $276.3K | 1.7K | 3 |
| NY | $165.87 | $1.9M | 11.2K | 22 |
| IL | $163.16 | $1.5M | 9.0K | 12 |
| MD | $159.21 | $743.8K | 4.7K | 9 |
| DE | $156.60 | $39.9K | 255 | 1 |
| NH | $156.40 | $301.9K | 1.9K | 6 |
| LA | $148.19 | $25.2K | 170 | 1 |
| CO | $147.90 | $316.4K | 2.1K | 5 |
| PA | $146.85 | $482.1K | 3.3K | 7 |
| TX | $143.76 | $1.2M | 8.3K | 18 |
| NC | $143.05 | $606.8K | 4.2K | 8 |
| VA | $140.86 | $425.5K | 3.0K | 7 |
| TN | $139.32 | $212.0K | 1.5K | 4 |
| OH | $135.53 | $240.7K | 1.8K | 5 |
| FL | $134.58 | $5.1M | 38.1K | 39 |
| OK | $134.19 | $117.1K | 873 | 1 |
| AL | $133.50 | $74.0K | 554 | 2 |
| SC | $132.97 | $215.9K | 1.6K | 7 |
| GA | $132.48 | $144.8K | 1.1K | 2 |
| WV | $131.22 | $244.6K | 1.9K | 4 |
| KY | $130.87 | $281.5K | 2.2K | 3 |
| MS | $129.47 | $113.5K | 877 | 2 |
| AR | $129.11 | $240.4K | 1.9K | 4 |
| MO | $112.40 | $176.1K | 1.6K | 5 |
| NE | $109.86 | $42.8K | 390 | 1 |
| MI | $109.63 | $136.2K | 1.2K | 3 |
| KS | $108.91 | $109.6K | 1.0K | 2 |
| CA | $101.37 | $1.6M | 16.0K | 49 |
| HI | $98.18 | $126.9K | 1.3K | 2 |
| AZ | $93.15 | $153.3K | 1.6K | 2 |
| NV | $92.67 | $215.8K | 2.3K | 3 |
| IA | $91.87 | $54.2K | 590 | 6 |
| WA | $89.93 | $626.0K | 7.0K | 11 |
| OR | $86.66 | $207.3K | 2.4K | 7 |
| ID | $76.28 | $28.2K | 370 | 1 |
| UT | $52.25 | $72.5K | 1.4K | 3 |
| NM | $20.22 | $5.3K | 262 | 1 |
| Provider | Specialty | State | Payments | Services | Avg/Service |
|---|---|---|---|---|---|
| Lazaro Cordoves | Psychiatry | FL | $1.5M | 10.9K | $137.94 |
| Jonathan Schwartz | Psychiatry | MA | $454.4K | 2.6K | $172.72 |
| Srisai Gowda | Psychiatry | NJ | $366.4K | 2.2K | $168.38 |
| M Seplow | Psychiatry | NJ | $330.0K | 2.1K | $158.64 |
| Richard Solomon | Psychiatry | FL | $327.2K | 2.3K | $139.49 |
| Lindsay Israel-Gaines | Psychiatry | FL | $313.5K | 2.3K | $133.46 |
| Teresa Poprawski | Psychiatry | IL | $276.1K | 1.6K | $172.16 |
| Terry Hanusa | Psychiatry | IL | $214.4K | 1.2K | $172.73 |
| Traian Zisu | Psychiatry | NJ | $206.8K | 1.2K | $169.62 |
| Jorge Jorge | Psychiatry | FL | $200.8K | 1.4K | $139.57 |
| Karen Severson | Psychiatry | IL | $198.1K | 1.5K | $135.30 |
| David Crumpacker | Psychiatry | TX | $192.3K | 1.4K | $138.66 |
| Fernando Mejia | Psychiatry | FL | $191.5K | 1.4K | $139.57 |
| Walter Griffith | Psychiatry | FL | $190.8K | 1.5K | $128.89 |
| Adarsh Gupta | Psychiatry | NY | $181.7K | 1.1K | $172.75 |
| Seema Kazi | Psychiatry | TX | $173.0K | 1.2K | $148.35 |
| Carlos Rueda | Psychiatry | NY | $166.6K | 970 | $171.76 |
| Edward Swanton | Psychiatry | MD | $165.2K | 1.0K | $159.58 |
| Rodrigo Nardi | Psychiatry | RI | $162.9K | 940 | $173.32 |
| Aaron Albert | Psychiatry | NC | $154.9K | 1.1K | $137.20 |
The data suggests significant pricing inconsistencies for CPT 90868. With a 8.6x price gap between the most and least expensive states, geography plays an outsized role in what Medicare pays for this procedure.
Costs have remained relatively stable over time, but the geographic variation suggests Medicare's geographic adjustment factors may not fully capture the true cost differences across states.
This analysis is based on publicly available CMS data and does not account for patient complexity, comorbidities, or facility-specific factors that may justify pricing differences.
Note: All data is from publicly available Medicare records. OpenMedicare is an independent journalism project not affiliated with CMS.