A bill to provide for the recognition of new medical technologies under the medicare inpatient hospital prospective payment system.

Amends title XVIII (Medicare) of the Social Security Act with respect to the mechanism for recognizing the costs of new medical services or technologies under the inpatient hospital prospective payment system. Requires the Secretary of Health and Human Services to provide for the addition of new diagnosis and procedure codes on April 1 of each year (beginning with 2004). Declares that the addition of such codes shall not require the Secretary to adjust the payment or diagnosis related group (DRG) classification (if warranted) until the Secretary is able to incorporate such an adjustment into the annual proposed rule for the following fiscal year.