Dr. Keith Smith believes that healthcare pricing in the United States is “scam” — and he’s working to change that. He is the medical director and managing partner of the Surgery Center of Oklahoma. Keith’s outlook on transparent healthcare pricing is a valuable one, especially since he’s had several years putting it into practice. This is part 2 of our two-part episode series on transparency – find part one here!
Over 7 years working in big hospitals, Keith saw the price of medical care rising while the quality of care suffered. This inspired Keith and his business partner to start a private practice founded on transparency, with prices and outcomes shared with everyone. To remain true to their pricing, Keith and his business partner decided they could not work with government programs. They firmly believe that the only way to move to a truly free market is to be completely transparent with healthcare prices, and to deliver better quality care at a lower cost.
Keith discusses his journey as well as the challenges he and his partner had to overcome along the way. We also explore the disruptive consequences that his transparency is having across the country, leading patients (who bid for their non-emergent surgical care) to Oklahoma.
What You’ll Learn From this Episode:
- How Keith started his transparent pricing surgery center.
- The pricing structure Keith and his partner use for their medical services.
- Why current pricing practices are a scam.
- Why hospitals should not have non-profit status.
- The disruptive effect of posting his prices.
- How the Free Market Medical Association works.
Featured on the Show:
- Ep #163: Can Transparency Change the U.S. Healthcare System? – With Ralph Weber
Listen to the Full Interview:
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