My first email from Dr. Henry Rosevear, a Colorado urologist and long-time WCI reader, came two weeks before the WCI conference in Park City last winter. He offered me free access to some lectures he had been delivering in person around the country and had recently packaged up into a video format and asked me to help get the word out about it. Needless to say, I was a little preoccupied with the upcoming conference. As important as his work is, we were swamped. So I put him off for a few weeks. Weeks became months and here we are in mid-June by the time I finally got around to this project.
Henry is a private practice urologist who realized not only that coding and billing was really important, but also that he knew little about it. So just like I started seeking out information about personal finance and investing, he started seeking out information about coding and billing. He attended courses, read up on it, and started applying what he learned to his practice. Soon he had boosted his income by thousands of dollars per year.
I'm sure Henry is a great doc and I know he has transformed himself into an expert on coding and billing, especially for surgical subspecialists and urologists in particular. However, he isn't necessarily a marketing genius. Nobody knew about this great resource he had put together and he didn't have a popular blog, huge email list, or significant social media presence to let them know. I guess that's where I come in.
When I finally got around to watching his videos myself, I was amazed. I thought I was pretty good at documenting in order to maximize coding and billing. It turns out I don’t even qualify as a rookie in the field. I learned all kinds of things about coding in the course that I wasn’t previously aware of. I made a few suggestions. He moved the course off of his site and over to the Teachable platform, which those of you who have taken Fire Your Financial Advisor or the Online WCI Conference are familiar with. He set me up as an “affiliate partner” (so if you buy his course through the links on this page I get paid too.) He added a useful handout and I put together three short videos myself and added them to his course in an effort to make the course more applicable to a wider range of physicians, particularly emergency docs and similar specialties.
I often advocate that doctors play both offense and defense when it comes to their finances. Offense means getting paid more. Defense means both protecting your assets with insurance and other asset protection techniques AND reducing your taxes, investing expenses, and spending in order to have more money available to invest. We spend a lot of time at The White Coat Investor talking about defense, but not nearly as much as we should talking about offense. And when we do talk about offense, it’s often a side gig or passive income or investment income that we’re talking about.
Henry’s course is all about offense. However, it is heavily focused on making your main gig, your doctoring gig, more profitable. The better you document, code, and bill, the more you get paid. But the best part is that you are getting paid more for the same work. There is no additional overhead associated with it. It all goes in your pocket as profit, at least if you’re in business for yourself. It’s not about gaming the system. It’s not about cheating to get more money. It’s about getting paid for the work you’re already doing. It’s about beating insurance companies at their game of refusing to pay or delaying payment for the work you did.
Learning to document, code, and bill better obviously has a direct effect on your income if you own your own practice. Likewise, if you are in a partnership that is set up as an “eat what you kill” kind of situation. However, even if you are in a different type of situation, knowing this stuff still has value. For example, you may be an employee but have your bonus dependent on how many RVUs you generate. If you document +/- code better, you will generate more RVUs and be paid more, even if it is indirectly. Even if you are just a salaried employee of a hospital or contract management group, there is still benefit to learning the coding system and doing it well. At the end of the day, your value to your employer is the money you can generate for her. The harder and more efficiently you work, the more money you generate. But improving your documentation and coding allows you to generate more money without working any harder or more efficiently. It’s like free money for those who took the time to learn the rules of the game. When you are worth more to an employer, especially if you can get your hands on that data, the better position you are in to improve your job security and negotiate a raise or even an initial contract at a new employer.
- The HPI and Problem Based Billing
- Requirements of the Physical Exam and Review of Systems
- Inpatient Coding and Billing By Time
- Real World Examples
The second part is all about modifiers and includes the following lectures (if you don't know what modifiers are, you REALLY need to take this course):
- The Concept of Bundling and Modifiers to Unbundle
- The Global Period and How to Get Out of It (Part 1)
- The Global Period and How to Get Out of It (Part 2)
- Less Commonly Used Modifiers
The third part is the section I did and includes:
- Documenting Your Way To Financial Independence
- Documenting ED Evaluation and Management Codes
- Documenting ED Procedure Codes
I was lucky; I actually received several great lectures during residency on documenting, coding, and billing and I've continued to learn about the subject throughout my career. But most docs get about as much on coding and billing as they do personal finance and investing in medical school and residency. Here's your chance to make up that deficit. For just $249 and 2-3 hours of your time, you can learn the mysteries behind your paycheck, and hopefully make some changes that bring you more income – more income to pay off student loans, more income to invest for financial independence, and more income to spend on what makes you happy. This is a great investment in your earning potential. Taking the Five Roses Urology Medical Billing and Coding course is an investment you won't regret. And, just like with our other online courses, we're offering a 7-day no-questions-asked refund. If it has been less than 7 days since your purchase AND you have watched less than 25% of the course, you may email [email protected] and obtain a 100% refund of your money.
Buy the Five Roses Online Medical Billing and Coding Course today! Enter code “WCI” at check out to receive 10% off for the next 7 days.
What do you think? How did you learn to document, code, and bill? How much have you been able to boost your income by learning about the business side of medicine? Comment below!