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UPDATED! Oklahoma City Hospital Posts Surgery Prices Online, Creates Bidding War, Prices Drop


http://youtu.be/0uPdkhMVdMQ

http://kfor.com/2013/07/08/okc-hospital-posting-surgery-pric...

OKLAHOMA CITY – An Oklahoma City surgery center is offering a new kind of price transparency, posting guaranteed all-inclusive surgery prices online. The move is revolutionizing medical billing in Oklahoma and around the world...

...“When we first started we thought we were about half the price of the hospitals,” Dr. Lantier remembers. “Then we found out we’re less than half price. Then we find out we’re a sixth to an eighth of what their prices are. I can’t believe the average person can afford health care at these prices.”

Their goal was to start a price war and they did...

...The difference in price is staggering.

News Channel 4′s Ali Meyer obtained bills from the metro’s three largest medical centers: Mercy Medical Center, Integris Baptist Medical Center and OU Medical Center.

  • Mercy Hospital charged $16, 244 for a breast biopsy; the procedure will cost $3,500 at Surgery Center of Oklahoma.
  • OU Medical Center billed $20,456 for the open repair of a fracture; the procedure will cost $4,855 at Surgery Center of Oklahoma.
  • OU Medical Center billed $21,556 for a gall bladder removal surgery; the procedure will cost $5,865 at Surgery Center of Oklahoma.
  • OU Medical Center billed $23,934 for an ankle arthroscopy; the procedure will cost $3,740 at Surgery Center of Oklahoma.
  • Integris Baptist billed $37,174 for a hysterectomy; the surgery costs $8,000 at Surgery Center of Oklahoma.

Continue Reading & Watch a DIFFERENT Video than embedded above: http://kfor.com/2013/07/08/okc-hospital-posting-surgery-pric...

UPDATE!: Just found out one of the main doctors there is a Ron Paul supporter!

Dr. G. Keith Smith, M.D.
FEC.gov search turned up a donation to Ron Paul in 2002. This guy liked RP before it was cool! http://images.nictusa.com/cgi-bin/fecimg/?22992005021

His blog boasts, "I blog about free markets in medical care and transparent pricing."

I think it's safe to say he's a friend of liberty! Show this guy some love!

UPDATE 2: Dr. G. Keith interviewed by Lew Rockwell

http://www.lewrockwell.com/podcast/276-free-market-medical-c...

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Know Anyone Who Has Had or is Planning Surgery?

Send them a link to this information.

It can help them make a better decision and begin to educate doctors as well.

What do you think? http://consequeries.com/

True but misleading

I've worked in hospital accounting and this article gets at the wrong problem. Hospitals all bill differently and so comparing health care costs is almost impossible. One hospital might have an all-inclusive price quoted while another might be piecemeal. Further, a procedure for two different people could result in two different treatments such as a gallbladder removal from an unhealthy person who had complications and needs a hospital stay while another had it as an outpatient surgery.

I hate to say government regulation is needed but in this case it does. Hospitals and drug companies basically have price fixing going on and they need to be told to post comparable prices and charge everyone the same price for the same type of care.

Luckily for us, ObamaCare makes this problem worse and will probably increase the overhead cost of care. Great job.

Great Point

Much more goes into "pricing" than the article leads readers to believe.
But that's all the more reason to let the free market deal with the complexities.

My "failed" open heart

My "failed" open heart surgery performed by dr tom kartis at charlotte regional in punta gorda fl ( Run Forest Run! ) who was paid regardless of the fact that the surgery was a total failure ( do you get paid when you fail? I don't. Why do they? ), total time from the minute I walked in to the minute I was wheeled out, 56 hours, cost $115,000.00 I was the 2nd open heart surgery he performed that morning. Do the math.
The same surgery in Thailand would be approx. $12,000.00 or 1/10th the cost. Medical tourism is huge in Asia with Singapore and Thialand getting the most tourists but China is catching up as they have been paying Chinese americans to relocate to china paying them big bucks and they do not need to worry about being sued etc.
While this surgery center isn't geared for major surgeries like heart, lungs etc, it's a big step in the right direction and maybe my grandchildren will be able to choose a better doctor and better price and not have to fly overseas to get it.
Now if Oklahoma would make medical marijuana legal they would actually get more then just an occasional medical tourist. But ahh the South, still in the dark ages on that one.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

Ya don't say?

Not surprised.
:D

You mean Ron Paul was right?

AGAIN?

If men are good, you don't need government; if men are evil or ambivalent, you don't dare have one.

Ron Paul is always right.

Ron Paul is always right.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine, Godfather of the American Revolution

This is why laws that encourage insurance must be repealed

This is why laws that encourage insurance must be repealed. That includes employer/private insurance, medicare, and medicaide.

Along with laws that regulate insurance -

which mandate coverages, instead of allowing insurers to offer plans driven by market demands, as opposed to political mandates.

Excellent! Way to go!

transparency in pricing is EXACTLY what is needed. It should be required by law. And usury laws should be reinstated as well!

TORT REFORM

ONE MAJOR ISSUE WHY HEALTHCARE IS EXPENSIVE ARE AMBULANCE CHASERS... LAWYER..TSK TSK

Ez

I didn't know whether to laugh. Or hurl. So I facepalmed.

As I read this I started to laugh, or hurl. Both.

"Omg! Doctors have brilliant idea: Charge LESS money for BETTER services, and advertise HONEST prices ... and health costs go DOWN!?!?"

...and ... and the COSTS ACTUALLY WENT DOWN?!?"

*facepalm*

Insurance is VERY expensive to support

They ditched insurance which dramatically saves money.

Mandatory insurance has

Mandatory insurance has profits at all levels. (Except, at the ground floor.)

-Reinsurers receive premiums against potential catastrophic losses of health insurance companies.
-Health insurance companies receive a greater amount of markup & profit.
-Health insurers also know that, with taxes levied against noncustomers, the market is extremely soft and they can ask for larger markups. Laws against pooling like-risk individuals also in higher premiums all around.
-Brokers receive greater commissions on increasingly expensive policies. They also have more customers, meaning a possibility to sell more insurance products.
-Hospital administrators have no reason to be truthful about the cost of providing procedures to non-paying patients. They can say that a $100,000 surgery is performed and that, a non-paying patient's equal surgery then cost them $100,000. They get to list it that at full or nearly full price, so to "balance" the books.
-Doctors have no reason to compete, since their jobs are assured if they do less and waste more. Only a few nurses are left frustrated as the messes grow larger and unused tools need to be cleaned again.
-Patients also have no reason to find cost-effective providers, as their costs aren't really posted to their bills. It's distributed to everyone.
-Health insurance is a redistribution plan, from the unhealthy to the healthy. Instead of covering catastrophic issues, it covers the daily expenses and essentially skips out on the unexpected.

I tried several times...

...to check out that interview earlier, but it wouldn't load! Looks likes it's working now! Thanks for sharing!

I'm a serial entrepreneur and liberty activist from Texas!

www.RevolutionCarBadges.com
www.NonNetwork.com

must be nice, not accepting

must be nice, not accepting medicaid or medicare and all... unlike every other hospital in the country... this is basically for rich folks able to pay or having solid insurance.

Dont expect to see this level of consumer choice offered in poor under-served neighborhoods where people still cant afford insurance or self pay at all and are reliant on government healthcare coverage and use services infrequently but at a higher intensity or visit emergency rooms instead.

comparing outpatient surgery centers to hospitals in terms of cost is asinine. outpatient surgery centers dont have to cover losses on emergency care or OB deliveries and prenatal care as most hospitals do.

would be better reporting if theyd compare only with other elective outpatient surgery centers in the area who also dont accept the 2 largest insurers in the country (medicare/medicaid). lol comparing cost between a small boutique surgery center and a huge academic research medical center is laughable.

i do agree that it is a revolutionary concept and is awesome at the ASC level but a little more complex to pull off at the hospital level. definitely doable and exciting to see price bidding at the ASC level though.

As for your reference to poor, under-served neighborhoods...

Ever noticed that is where cheaper walk-in clinics are located?

I think perhaps you have formulated an idea of the current state of the issue without actually SEEING what is really going on in the real world.

Turn off the TV and go outside.

Nav, are you familiar with

Nav, are you familiar with the essential concepts behind free market competition, government-created monopolies and supply and demand?

As for the small clinic vs. mega hospital issue, perhaps this

means the mega-model doesn't work? Perhaps the more efficient use of resources and the better and cheaper way to deliver such services is with smaller clinics and outpatient practices?

The comparison IS a fair one. It exposes the mega-model for being too unweildy and expensive and highlights the advantages of doing it differently.

That has to be about the most short-sighted reply I've ever seen

here on DP.

I don't have insurance. I don't use medical services with any regularity.

My idea of "access to essential basic health services" is better known as "first-aid" which I'm well familiar with and keep informed about.

On the few occasions I've needed to use professional services, I shopped around and paid cash. I paid probably 10 times too much though, and those services would have been much more affordable for me had clueless individuals like you not borked this country up into thinking you need the nanny state to take care of you.

The unfettered FREE market will always produce the lowest MOST AFFORDABLE price. It is structurally impossible for any form of control or redistribution method to beat it - any such scheme adds layers of people who have to get paid, delays in providing goods and services (time is money) and reductions in quality and efficacy of those goods and services.

You cannot make something faster, cheaper, or more efficient by adding layers or elements which create resistance.

I remember Jason Lewis

doing a radio program about this about a year ago. It was really interesting. I'll do some searching for it and post a link if I find one.

We could have guessed one of the doctors is an RP supporter!

UPDATE!: Just found out one of the main doctors there is a Ron Paul supporter!

Dr. G. Keith Smith, M.D.
FEC.gov search turned up a donation to Ron Paul in 2002. This guy liked RP before it was cool! http://images.nictusa.com/cgi-bin/fecimg/?22992005021

His blog boasts, "I blog about free markets in medical care and transparent pricing."

I think it's safe to say he's a friend of liberty! Show this guy some love!

I'm a serial entrepreneur and liberty activist from Texas!

www.RevolutionCarBadges.com
www.NonNetwork.com

This is how you solve the (mad made) healthcare crisis...

by transparency, unlike the Obama administration.

Mirand Sharma

Huh, this was all done by simply advertising prices?

What kind of corruption is going on in the hospital industry if that kind of prices differences can be had?

It's not corruption...just a

It's not corruption...just a broken price mechanism from all of the healthcare and insurance laws and regulations.

I'm in Oklahoma City and my

I'm in Oklahoma City and my brother had a surgery done there. And he did not die lol... I love that place and their philosophy, and yes, they're libertarians.

FEC.gov shows a donation to Ron Paul!

See my update!

I'm a serial entrepreneur and liberty activist from Texas!

www.RevolutionCarBadges.com
www.NonNetwork.com