Question: Can a pediatrician bill separately for pulse oximetry? Florida Subscriber Answer: Yes, a pediatrician can bill separately for pulse oximetry by reporting 94760 (Noninvasive ear or pulse oximetry for oxygen saturation; single determination). For Medicare, 94760 is bundled into the E/M code, but most private payers do not follow this Medicare bundle. In a typical scenario, you would see a patient with asthma in some distress and perform pulse oximetry and a nebulizer treatment, followed by another pulse oximetry measurement. In this case you should code the E/M service, 94760, and 94664 (Aerosol or vapor inhalations for sputum mobilization, bronchodilation, or sputum induction for diagnostic purposes; initial demonstration and/or evaluation) or 94640 (Nonpressurized inhalation treatment for acute airway obstruction).