CPT code 33935 represents a combined heart and lung transplant: the surgical removal of the patient’s heart and lung followed by implantation of a donor heart and lung. This complex, high-acuity procedure is performed in major transplant centers and carries significant clinical, logistical, and cost implications nationally due to its resource intensity and rarity. Key payers in the national analysis include Aetna, Blue Cross Blue Shield, Cigna Health, UnitedHealthcare, and Medicare. Readers will find a concise overview of what the code covers, payer scope, and the clinical and service context for CPT code 33935. The publication summarizes typical sites of service, common modifiers used with this code (listed elsewhere), and the relevant service line for hospital billing. It also outlines benchmarks and policy-relevant considerations that affect coverage and reimbursement for high-cost organ transplantation services. Clinical context addresses the procedural nature, perioperative care needs, and inpatient hospital resource use associated with combined heart-lung transplantation. Data not available in the input is noted where specific items such as associated taxonomies, ICD-10 diagnoses, and related codes are not provided.