Here are the key details to know:
1. During his testimony, Mr. Tippets talked about his surgery center’s cost transparency initiative, which bundles surgery fees and makes prices available on their website.
2. Making prices easily accessible to consumers will allow them to be more informed, which may lower healthcare costs due to free market competition, Mr. Tippets said.
3. Mr. Tippets told the committee when physicians and insurance companies refer patients to ASCs over more expensive hospital outpatient departments, it can help reduce the cost of healthcare.
4. ASCs save Medicare about $2.5 billion a year, private patients $40 billion and Medicare beneficiaries $1.5 billion, according to the St. George News.
5. Mr. Tippets said consumers should also look at the quality of services and patient safety when making healthcare decisions, adding that higher cost doesn’t translate to higher quality.
More articles on turnarounds:
Naples Day Surgery shutting down: 5 details
Mid City’s first outpatient surgery center holds open house
Hurricane Michael forces Panama Surgery Center to temporarily close: 3 details
