Surgery Center of Oklahoma's Dr. Keith Smith Posts ASC Prices to Reduce Healthcare Costs
G. Keith Smith, an anesthesiologist and chief medical director at the Surgery Center of Oklahoma, has been vocal about his belief in price transparency in ASCs, according to a 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.
Related Articles on Surgery Center Coding, Billing and Collections:
10 Statistics on Average Percent of Medicare Rates for Best Payors
AAPC: Is Your Practice Getting Paid for the Services It Performs?
Tenet Surgery Centers Renew Payor Contract With Cigna
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
- Senate Introduces Companion Medicare RAC Reform Bill
- Drs. Brian Cole, Anthony Romeo of Midwest Orthopaedics at Rush Among Top Orthopedic Surgeons Contributing to Orthopedic Literature
- Spinal Elements Upgrades to 40,000-Square-Foot Headquarters
- UnitedHealth, Aetna, Cigna to Sit Out of California's Health Insurance Exchange
- Rhode Island Nixes "Confidential" Prices Between Payors, Providers