Ep #58: Price and Quality Transparency In Action – With Dr. Keith Smith

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Dr. Keith Smith believes that health care pricing in the United States is “a scam” that he was determined to change. Continuing with our 2-part series on transparency, we thought it would be interesting to talk to someone who has a few years’ experience in taking transparency and is putting it into effect.  Keith is the medical director and managing partner of the Surgery Center of Oklahoma.

While working in big hospitals for 7 years, Keith witnessed the quality of medical care sinking and the prices rising. This inspired Keith and his business partner to start a private practice with a difference: they would post their prices and outcomes for everyone to see. To remain true to their pricing, they decided they could not deal with government programs. They are firm in their belief that the only way to move to a real free market is to be completely transparent and provide better care and outcomes than big box hospitals, and to do it for a fraction of the price.

We asked Keith about 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:

  • Keith’s journey to starting his transparent pricing surgery center.
  • How Keith and his partner began pricing their medical services.
  • Why he believes current pricing is a scam.
  • The farce of hospital’s non-profit status
  • The disruptive effect of posting his prices.
  • What the Free Market Medical Association is.

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Listen To The Full Interview:

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