Ray Painter, MD, FACS, presented “The Business of Medicine” for the Grand Rounds in Urology audience in June, 2020.

How to cite: Painter, Ray. The Business of Medicine” June, 2020. Accessed Jul 2024. https://grandroundsinurology.com/the-business-of-medicine/

The Business of Medicine – Summary:

Ray Painter, MD, FACS, co-founder and president of Physician Reimbursement Systems (PRS), discusses the business of medicine. He highlights how much has changed in recent decades and how regulation of medicine has increased. Dr. Painter then goes on to make some predictions about the future which will lead to less onerous regulation and more job satisfaction. Some of these changes are already in the works, affecting areas such as office documentation and how doctors are paid for their time. The changes provide opportunities to improve workflow, allow for spending more time with patients, and increased data accuracy. Dr. Painter then emphasizes the need for this data accuracy and goes over the main reasons why errors happen. Overall, he argues that it is imperative that doctors understand and accept their roles in data collection and how it will lead to greater job satisfaction.

For more commentary on practice management, visit our Improving Your Urology Practice page from Neil H. Baum, MD.


Ray Painter, MD, FACS, is Co-Founder and President of Physician Reimbursement Systems (PRS), a Denver, Colorado-based firm committed to assisting physicians with coding and payment concerns. Dr. Painter spent 9 years in the Army before starting a urology practice in Grand Junction, Colorado. He later established a second practice, High Country Urology, in Glenwood Springs, Colorado. He co-founded Relative Value Studies, Inc., in 1983, followed by PRS in 1989, and the PRS Urology Service Corporation, Inc., in 1996. He consults and lectures on the business of medicine, coding and billing issues, time management, healthcare reform, and the future of medicine.
Additionally, Dr. Painter has served as a delegate to the American Medical Association since 1985 and as Co-Chair of Colorado Medicare Carriers Advisory Committee since 1993. He was a consultant to the American Urological Association Coding and Reimbursement Committee from 1993 to 2016 and a member of the National Advisory Committee for United Healthcare Group from 2004-2010. He is also a member of numerous professional societies, including the American Association of Clinical Urology, the American College of Surgeons, the American Medical Association, the American Urological Association, and the Colorado Medical Society, among others.