In this episode Ron brings Keith Smith, Medical Director at Surgical Center of Oklahoma back on the show to discuss the importance of transparent pricing in healthcare and how he helped to pioneer that movement. He also discusses how other organizations are copying the Surgery Center of Oklahoma pricing model, how the government is not doing enough to make a positive change in healthcare, the importance of direct contracting and free market competition, and more.
In 2009, Dr. Smith launched a website displaying all-inclusive pricing for various surgical procedures, a move that has gained him and the facility, national and even international attention. Many Canadians and uninsured Americans have been treated at his facility, taking advantage of the low and transparent pricing available. His most recent effort is the launch of the Free Market Medical Association which provides a platform where those seeking to obtain high quality and affordable health care can find free market-minded providers, both physicians and facilities.
Operation of this free market medical practice, the standard for all who have embraced this practice approach, has gained the endorsement of policymakers and legislators nationally. More and more self-funded insurance plans are taking advantage of Dr. Smith’s pricing model resulting in significant savings to their employee health plans. His hope is for as many facilities as possible to adopt a transparent pricing model, a move he believes will lower costs and improve quality of care for all.
He has made appearances on the John Stossel Show, CNBC, Huffington Post, The O’Reilly Factor, Capital Account, The Ron Paul Channel, NBC Nightly News and has been featured by Reason Magazine’s TV division. The New York Times, Time Magazine, ABC news, Forbes and many others have written articles featuring Dr. Smith’s revolutionary approach to the pricing of health care and uncompromising free market principles.