Surgery Center of Oklahoma's Dr. Keith Smith Posts ASC Prices to Reduce Healthcare Costs
Fierce Health Finance report.
Three years ago, Dr. Smith posted the prices for more than 100 procedures performed by the surgery center — prices which include the surgeon and anesthesiologist fees. A hernia surgery was listed at $4,500, while a knee arthroscopy cost $3,740. He noted that few patients would be able to pay for the same procedures in the hospital setting, where the chargemasters mark up procedures to as much as $20,000.
Dr. Smith says his center's price transparency has prompted local hospitals to lower their prices, though they still do not provide price information to patients. In an ideal industry, he says, every provider would post his or her prices, creating competition among providers and forcing hospitals to lower their prices.
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