OK HB2943

Amends Oklahoma workers' compensation law to reduce overall medical care costs by 5% through a new medical fee schedule effective January 1, 2012.

Establishes MRI reimbursement requirements restricting payment to facilities meeting Medicare requirements or accredited by American College of Radiology, Intersocietal Accreditation Commission, or Joint Commission on Accreditation of Healthcare Organizations.

Sets reimbursement rates at 207% of Medicare Fee Schedule for most radiology procedures and minimum 150% of Medicare rates for evaluation and management services.

Requires medical providers to disclose financial interests in healthcare facilities and limits markups on implantable devices to 10% above cost.

Mandates payment within 45 days of invoice receipt with penalties up to 25% for delayed payment and up to $5,000 per occurrence for patterns of willful delay.