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RT Lauren Lyster: Dr. Keith Smith (OK r3VOL) on Free Mkt HealthCare! 'NGO' Hospitals overcharge to maintain Tax-exempt Status!

Learn more about the reality of American Corporatist 'healthcare' industry in the first five minutes of the interview, than perhaps you have in your entire life!

To find out more about Dr. Keith Smith and Surgery Center of Oklahoma, click HERE and click HERE for his personal blog.

How the Market Can Cure the Health Care Crisis w/Dr. Keith Smith!

http://youtu.be/dRn9ySc-RDM

Published on Sep 10, 2012 by CapitalAccount

Welcome to Capital Account. Republican presidential candidate Mitt Romney raised eyebrows yesterday when he said he would "not get rid of all of healthcare reform." Romney's statement made headline news because it differed from his previous rhetoric of "repealing ObamaCare." We would rather hear politicians explain the real reasons for why a trip to the ER for a headache can amount to a bill of $10,000. Could it be that healthcare isn't actually that expensive?

Over the years healthcare costs in the US have increased from 5% of GDP in the 60s to 17.4% in 2009, according to an OECD report published in 2011. A recent report from the Institute of Medicine calculated systemic waste in the US healthcare system at $765 billion, representing 30% of total expenditures. We ask Doctor Keith Smith, Managing Partner and Medical Director for the Surgery Center of Oklahoma, about the role of insurance companies, wasteful administration costs, and hospital inefficiencies.

Keith Smith runs an independent surgical clinic and brings free market competitive prices to surgery. He offers customers lower prices and patients fly in from all over the world, even from countries with universal healthcare systems, to get surgery at his center.

And in today's "Loose Change," Lauren and Demetri discuss former Reagan Budget Director, David Stockman, recent appearance on CNBC. Specifically, Stockman's comment that "Ron Paul is the only one who is right about the Fed, and the Fed is the heart of the problem." Indeed!

Follow us @
http://twitter.com/lauren...
http://twitter.com/coveri...

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Dr. Smith is also a frequent contributor at LewRockwell.com:

276. Free-Market Medical Care

On May 8, 2012, In Podcast, By admin

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G. Keith Smith, MD, talks to Lew about the wild success, and low prices, that result from kicking out the feds.

G. Keith Smith’s website: Surgery Center of Oklahoma
G. Keith Smith’s tumblr blog site
Surgery Center of Oklahoma on fb
Surgery Center of Oklahoma on twitter

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How 'No Coverage' Means More Care

Posted by Lew Rockwell on August 8, 2012 09:10 AM

Writes G. Keith Smith, MD:

My mother called me this morning to tell me that a 76-year old friend of hers had gone to her doctor to get a B12 shot. She was told her insurance (Medicare) didn’t cover that any more. Her friend was incensed and left without getting the shot.

What are the lessons here? First, my mother’s friend doesn’t understand what incredibly great news this is. She will understand soon enough that the only care available to her might be only those things that Medicare doesn’t cover. Care subject to price controls will be…ok..if you said “scarce” you get a gold star. Care outside of the “system” will be controlled somewhat by market forces, with prices free to adjust and send appropriate scarcity signals to producers who then rationally respond. If my mother’s friend really needs her B12 (as opposed to those patients that obtain this injection simply because it is free or priced below its value) it will be available.

But here’s the rub. She will have to pay for her B12. All of it. So many people are conditioned to follow the “orders” of the third parties, including government payers.

“The pharmacist will only fill 30 days at a time of my medicine because that’s all Medicare will pay for.” I don’t know how many times I have heard that.

“How much would it be for you to pay for a 6-month supply out of your pocket,” I ask?

“Didn’t think about asking.”

Did my mother’s friend have difficulty thinking outside of her usual box or did she not really need the injection? I don’t know. Maybe a little of both.

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Anatomy of a Cartel

by G. Keith Smith, MD | April 17, 2012
Surgery Center of Oklahoma

I though it might be a good time to revisit topics no one in health care management at the hospital, government or insurance level wants discussed or understood. I find it interesting that for all the talk of “health care reform” none of what I am about to outline is addressed in the Unaffordable Care Act. That the following is not addressed by this “reform” is compelling proof, I think, that the health care legislation oozing out of Washington is like most of the rest: a pay to play scheme, one characterized by bribery and favors, as Murray Rothbard made so clear in his writings.

The diagram I have put together below is by no means complete. This scaled-down version has been useful to me, however, to keep the players and how they benefit, straight. Not shown is how the government is complicitous in this arrangement. Tricky Dick Nixon’s 1972 HMO Act and the continually maintained perversion of the tax code that provides for the deductibility of health insurance premiums by employers and not for employees play a huge role in propping up this dysfunctional system, a role, the magnitude of which is hard to estimate. This preferential tax treatment is a huge gift (in essence a subsidy) to the insurance companies, as they can write one policy covering thousands, rather than thousands of policies to cover thousands. Every opportunity to change this has presented itself, the most conspicuous being the period of time the so-called, small government Republicans controlled both houses and the white house.

A local legislator recently remarked on Aetna’s introduction of a bill in Oklahoma to introduce a new insurance product, the E.P.O., or exclusive provider organization. He said, “it’s a free market, they should be able to offer whatever product they like.” On the contrary. PPO’s (preferred provider organizations), ostensibly set up to control costs and maintain quality, have performed the function the insurance companies hoped they would: the cartelization of health care, an arrangement that limits the entrance of new competitors and one where “arrangements” beneficial to the cartel members are much easier to control and manage. I maintain that the breakup of this cartel, whose back is broken by price transparency, is not only necessary and desirable but is the only way to harness the free market power to transform the pricing (lower) and the quality (higher). Breaking up the cartel requires that we first understand it.

In the diagram below, the benefits of a Giant Hospital Bill (GHB) are shown. On the left are the benefits to the hospital, on the right, the benefits to the insurance company that is “paying” the bill. Explanations follow to explain the terminology to those unfamiliar.

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UPDATE: Here's how that $100 scorpion anti-venom cost the patient $83,000+! Courtesy of Gary North at LewRockwell.com.

Stung by a Scorpion, Then by a Hospital. This Could Happen to You.

by Gary North | September 12, 2012
TeaPartyEconomist.com

An Arizona woman was stung by a scoprion. She went to the hospital. It gave her two shots. Then it charged her $39,652.

Per shot.

In Mexico, the same shot costs $100.

Then it charged her extra fees for the visit. Total bill: over $83,000.

Conclusion: government-regulated health care is not working for patients. It is working great for hospitals.

Here are the details.



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updated

UPDATE: Here's how that $100 scorpion anti-venom cost the patient $83,000+! Courtesy of Gary North at LewRockwell.com.

Stung by a Scorpion, Then by a Hospital. This Could Happen to You.

by Gary North | September 12, 2012
TeaPartyEconomist.com

An Arizona woman was stung by a scoprion. She went to the hospital. It gave her two shots. Then it charged her $39,652.

Per shot.

In Mexico, the same shot costs $100.

Then it charged her extra fees for the visit. Total bill: over $83,000.

Conclusion: government-regulated health care is not working for patients. It is working great for hospitals.

Here are the details.

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

updated

...

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul

guarantee that in the 1st 5min of the interview,

you'll find out more about HOW the corporatist 'healthcare' industry 'works' than you have, in your entire life!

Predictions in due Time...
http://www.youtube.com/watch?v=zGDisyWkIBM

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul