Oversight of Medicare Billing Code Cost Act

This legislation seeks to increase oversight and transparency regarding the processes for Medicare billing codes. It directs the Inspector General of the Department of Health and Human Services to conduct a comprehensive study on how the Centers for Medicare & Medicaid Services (CMS) adds, modifies, and removes these codes under the Medicare program. The study must analyze the data considered, trends in code changes, areas of high growth, and CMS efforts to monitor effects on outcomes and costs. Within 12 months, the Inspector General must report these findings to Congress, along with recommendations for improving transparency and oversight. Furthermore, the bill mandates that the Secretary of Health and Human Services annually submit to Congress and publicly post a report listing all new Medicare billing codes added in the preceding year, detailing their associated volume and expenditures.