Final answer:
The Resource-Based Relative Value Scale (RBRVS) system from 1992 is now known as the Medicare Physician Fee Schedule (MPFS), option (c). It is a standardized payment system used by Medicare for reimbursing physician services.
Step-by-step explanation:
The Resource-Based Relative Value Scale (RBRVS) system, originally implemented in 1992, is now referred to as the Medicare Physician Fee Schedule (MPFS), which is an option (c).
The RBRVS is a scheme used to determine how much money medical providers should be paid by Medicare and health insurance companies. It assigns specific values to services based on the amount of resources required to perform them.
The goal of RBRVS is to standardize the payments made to physicians and to ensure that they are equitable. This system takes into account factors such as the physician's work, the practice's expenses, and the cost of malpractice insurance. The Medicare Physician Fee Schedule uses RBRVS as the basis for setting payment rates for physician services under Medicare Part B, which covers outpatient care, doctors' services, and other medical services not covered by hospital insurance.