An important topic in health care today is the Medicare requirement that physicians follow documentation guidelines to receive reimbursement from third party payors. Educators must therefore design robust teaching/learning transactions to assist physicians in learning to document for reimbursement. To elucidate the elements that would be most helpful in such transactions, a qualitative study was undertaken to reveal the lived experience of physicians learning to document for patient services per Medicare guidelines. It used the contextual frameworks of Medicare and continuing professional development, and the theoretical framework of Schon's model of reflection in action. Twenty-four physicians were interviewed at length and asked to recount their experiences learning to document for reimbursement. Using qualitative analysis, themes emerged around past learning experiences, feedback, tools, and perspectives. These themes had implications for practice in suggesting the use of needs assessments, consideration for readiness to learn, development of instructional materials, and implementation of standards when designing robust teaching/learning transactions for physicians' continuing professional development. The need to juxtapose physician continuing professional development with organizational development was also implied. Further qualitative studies are needed to assess how physicians' learning experiences change over time or with the implementation of electronic documentation methods. The learning experiences of physicians slow to adapt to documentation requirements should also be studied to better accommodate their learning needs.