How much does Medicare pay for CPT 95940?

Medicare allowed an average of $32.78 per service and paid $26.09 of that, the balance being the patient's coinsurance and deductible (2024 data). Providers submitted an average of $155.85, which is what they billed rather than what they received — Medicare pays its fee schedule regardless of the charge.

What is CPT code 95940?

Continuous monitoring of nervous system during operation, each 15 minutes. It was billed 12,364 times to 1,349 Medicare beneficiaries by 29 providers in 2024.

Which specialty bills 95940 most?

Audiologist, with 9,483 services from 8 clinicians. Next are Neurology, Otolaryngology, Physical Medicine and Rehabilitation.

CPT 95940

Continuous monitoring of nervous system during operation, each 15 minutes

$32.78Medicare-allowed amount per service, averaged across 12,364 services

Providers submitted

$155.85

Asking price, not received

Medicare allowed

$32.78

The fee schedule figure

Medicare paid

$26.09

Balance is patient coinsurance

Providers submitted an average of $155.85 for this code and Medicare allowed $32.78 — 4.8× less. That gap is normal and means nothing on its own: Medicare pays its fee schedule regardless of what is billed, so the submitted figure describes a hospital chargemaster, not a price anyone paid. Of the allowed amount Medicare paid $26.09 (80%); the rest is the patient’s coinsurance and deductible.

Services: 12,364
Beneficiaries: 1,349
Providers billing it: 29
Total allowed: $405,292

What Medicare pays for CPT 95940

Across 12,364 services billed by 29 providers to 1,349 beneficiaries, Medicare allowed an average of $32.78 per service. That is 9.2 services per beneficiary, so this is a code patients typically receive more than once. The allowed amount is the figure that matters: it is what Medicare and the patient together owe, set by the fee schedule and adjusted for local practice costs. What a provider chose to submit has no bearing on it.

Who bills 95940

Specialty	Services	Beneficiaries	Avg allowed	Providers
Audiologist	9,483	513	$32.91	8
Neurology	1,925	701	$32.37	13
Otolaryngology	490	82	$34.18	5
Physical Medicine and Rehabilitation	389	31	$30.37	1
General Surgery	66	11	$29.83	1
Epileptologists	11	11	$32.36	1

95940 reimbursement by state

Two different numbers. Allowed is what Medicare actually allowed in that state, which includes the local practice-cost adjustment. Standardized strips that geographic adjustment out of the payment, so it is the column to use when comparing states — a difference there reflects how the code was billed, not what it costs to run a practice locally.

State	Services	Allowed	Standardized pmt	Providers
California	10,049	$33.03	$24.66	13
New York	601	$31.89	$24.64	2
Pennsylvania	473	$32.30	$24.62	5
New Hampshire	439	$31.21	$24.71	3
Texas	336	$32.16	$24.75	2
Vermont	212	$30.28	$24.69	1
Florida	147	$30.92	$24.57	2
North Carolina	107	$31.87	$24.76	1

Related codes

95911Nerve conduction$197.67
95910Nerve conduction$157.37
95938Placement of skin electrodes and measurement of stimulated sites on ar$55.24
95923Testing of autonomic (sympathetic) nervous system function$121.40
95909Nerve conduction$117.92
95992Repositioning exercises of head for treatment of dizziness$41.72
95913Nerve conduction$267.08
95912Nerve conduction$234.05
95921Testing of autonomic nervous system function and heart rate response t$87.65
95939Placement of skin electrodes and measurement of central motor stimulat$122.96
95984Electronic analysis of implanted brain$41.14
95983Electronic analysis of implanted brain$46.17

Billing this code is not the same as earning it

An allowed amount is revenue to a practice, not income to a clinician. It funds staff, premises, equipment and supplies before anyone is paid. What clinicians actually earn is published separately by the Department of Labor, and what industry pays them is published separately again by CMS — this site carries both.

What doctors are paid →·Look up a clinician →·All procedure codes →

Where this comes from. CMS Medicare Physician & Other Practitioners, by Provider and Service, 2024. It covers fee-for-service Original Medicare Part B only — not Medicare Advantage, not Medicaid, and not commercial insurance, which typically pays more for the same code.

How it is averaged. CMS publishes one average per provider per code. Every figure here is re-weighted by the number of services, so a clinician who billed the code 4,000 times counts 4,000 times more than one who billed it twice. CMS also suppresses any provider-code pair with fewer than 11 beneficiaries, so low-volume practice is missing from these totals by design.