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Per CPT assistant, only the largest tumor is reported. See below source explaination.

Digestive system code changes
CPT Assistant, August 2008 Pages: 7-9 Category: Coding Communication

Destruction of Peritoneal Tumors

Three new codes-49203, 49204, and 49205-were established to clarify and refine current reporting of tumor destruction in the peritoneum. The previously existing codes, 49200 and 49201, were used to report tumor debulking in this region. Additionally, there was a gap in the family of excision codes for ovarian malignancy when the primary organs (ie, uterus, tubes, and ovaries) had already been resected. To support the clarification of these services two new codes, codes 49200 and 49201 were deleted.

The intent of these new procedure codes is to report an open procedure for the excision, ablation, or destruction of peritoneal tumors differentiated according to the size of the largest tumor removed during a single session.

Code 49203 is reported when the largest tumor removed measures 5 cm or less in diameter; code 49204 is reported when the largest tumor removed measures 5.1 cm to 10.0 cm in diameter; and code 49205 is reported when the largest tumor removed measures greater than 10.0 cm in diameter.

Various parenthetical notes were added to assist in correct reporting of these procedures.

• An exclusionary cross-reference was included to preclude reporting codes 38770, 38780, 49000, 49010, 49215, 50010, 50205, 50225, 50236, 50250, 50290, and 58900-58960 with codes 49203-49205.

• Instructional cross-references were added to instruct the coder to report codes 50220, 50240 (partial or total nephrectomy), 44140 (colectomy), 44120 (small bowel resection), and 37799 (for venal caval resection with reconstruction) in conjunction with codes 49203-49205.

• An instructional note was added to instruct the user to see codes 50250 and 50593 for cryoablation of renal tumors.

49203 Excision or destruction, open, intra-abdominal tumors, cysts or endometriomas, 1 or more peritoneal, mesenteric, or retroperitoneal primary or secondary tumors; largest tumor 5 cm diameter or less
49204 largest tumor 5.1-10.0 cm diameter
49205 largest tumor greater than 10.0 cm diameter