If you have ever seen a bill after a medical procedure or surgery, you may wonder why one pain pills costs $10 or a walker costs $100. What would happen to the price of surgery if you cut out the middle man, the Insurance Agencies, and you were responsible for the cost of the surgery? Also, what if prices were disclosed to patients before surgery? Dr. Keith Smith, co-founder and managing partner of the Surgery Center of Oklahoma, has done just that and the results are staggering. This is an incredible video to watch.
http://www.youtube.com/watch?v=0uPdkhMVdMQ
“The Surgery Center’s consumer-driven model could become increasingly common as Americans look for alternatives to the traditional heath care market – an unintended consequence of Obamacare.”
“The major cause of exploding U.S. health care costs is the third-party payer system, a text book concept in which A buys goods or services from B that are paid for by C.”
HSAs and pricing transparency are two trends that lead to lower costs (more competitive pricing) and an incentive for patients to seek out value.
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