Most offices that I've worked with use this code for their patients who are seen as new patients and their chief complaint is basically, "I'm just here for an annual exam and want some new glasses." They have no complaints which would indicate a medical eye condition and they use their Vision Care Plan for the exam payment. However, the exam finds that there is a medical condition. The VCP is still billed for the exam with the Z01.01 code but the patient is brought back for further evaluation and treatment of the medical problem and their medical insurance is billed with the appropriate specific diagnosis code used.
When seen annually, assuming the medical problem is continuing, such as cataracts, dry eye or diabetic retinopathy, then their medical insurance continues to be billed since they have a medical condition and the Z01.01 isn't used for those visits.
Tom Cheezum, OD, CPC, COPC