History
RBRVS was created at Harvard University in their national RBRVS study from December 1985 and published on September 29, 1988. William Hsiao was the principal investigator who organized a multi-disciplinary team of researchers, which included statisticians, physicians, economists and measurement specialists, to develop the RBRVS.
In 1988 the results were submitted to the Health Care Financing Administration (today CMS) to be used in the American Medicare system. In December of the following year, President George H. W. Bush signed into law the Omnibus Budget Reconciliation Act of 1989, switching Medicare to an RBRVS payment schedule. This took effect on January 1, 1992. Starting in 1991, the AMA has updated RBRVS continually. As of May 2003, over 3500 corrections have been submitted to CMS.
Read more about this topic: Resource-based Relative Value Scale
Famous quotes containing the word history:
“Anything in history or nature that can be described as changing steadily can be seen as heading toward catastrophe.”
—Susan Sontag (b. 1933)
“It’s nice to be a part of history but people should get it right. I may not be perfect, but I’m bloody close.”
—John Lydon (formerly Johnny Rotten)
“Most events recorded in history are more remarkable than important, like eclipses of the sun and moon, by which all are attracted, but whose effects no one takes the trouble to calculate.”
—Henry David Thoreau (1817–1862)