Depends on what setting the nurse is in and what function they are providing.
Medicare reimburses hospitals at a flat rare based upon the patient's primary and secondary diagnosis or their diagnosis related group (DRG). This is where the infamous international classification of disease-9 (ICD-9) codes come into play and why it is so important to have a diagnosis tied to each order. Each DRG is then weighed by the amount of resources it takes the hospital, or should take them, to treat the patient, and the reimbursement is adjusted accordingly. Other factors such as regional cost-of-living adjustments, the percentage of low-income patients, and if the hospital is a teaching hospital or not also adjusts the reimbursement.
Now specific procedures and treatments are also classed but instead of being classed by diagnosis they are classed by the procedure under current procedural terminology (CPT) codes. Each CPT codes has a flat reimbursement rate attached to it, and is adjusted by some of the same factors that adjust the DRG reimbursements.
Now each CPT has specific conditions that are tied to them and decide what procedure, and how it is done, can be reimbursed. For example, in endoscopy if someone receives an EGD they receive a certain CPT code. Now, if there is an anesthesiologist at the bedside the CPT is adjusted, not only for the additional physician who is reimbursed separate, but also the overall procedural reimbursement is adjusted. In this scenario, whether anesthesia was administered or not, the facility can bill for extended recovery time. If there is no anesthesiologist, maybe the physician administered the meds himself, the facility cannot bill for that additional recovery time.
The facility still can bill under a CPT code, it just is adjusted.
Now there are differences in outpatient and inpatient billing, hospital or ambulatory care center, etc, etc. To say that billing is complex is an understatement.
So to answer your question, sort-of, maybe, kind-of.