No money, no mission. Understanding coding is the key to funding care and making your practice sustainable. In this episode of BackTable OBGYN, host, Dr. Mark Hoffman, chats with Dr. Jon Hathaway, associate professor at IU School of Medicine and coding specialist. They discuss the intricacies of medical billing, the impact of coding knowledge on revenue, and the systemic gaps in residency training regarding financial literacy.
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SYNPOSIS
Dr. Hathaway shares his journey from mastering coding to becoming a national expert, providing a crash course on CPT, RVU, and ICD codes, and emphasizing the importance of accurate billing for the sustainability of healthcare practices. The episode offers valuable insights into the challenges and opportunities in medical coding and the broader financial aspects of healthcare.
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TIMESTAMPS
00:00 - Introduction
02:03 - Dr. Hathaway's Journey into Coding
04:11 - Understanding the Financial Side of Healthcare
07:10 - The Disconnect in Healthcare Payments
11:26 - The Complexity of Medical Billing
18:11 - The Role of CPT, RVU, and ICD Codes
24:03 - The Process of Approving New Procedures
32:38 - Understanding the Value Update Process
33:47 - Case Study: Cystoscopy in Hysterectomy Codes
35:26 - Survey Participation and Its Impact
36:12 - Roles and Responsibilities in ACOG
38:12 - Challenges of RVU-Based Compensation
42:08 - Specialty-Specific RVU Valuation
48:42 - Comparing OB and GYN Reimbursements
50:02 - Envisioning an Ideal Healthcare System
55:10 - Maximizing Billing Efficiency
59:46 - Final Thoughts