Revealing the hidden layers of health care costs - with Dr. Keith Smith

Have you ever wondered about the hidden layers of health care costs? Today, we bring you insights from an eye-opening conversation with Dr. Keith Smith, co-founder of the Surgery Center of Oklahoma. Dr. Smith shares his personal journey of navigating the health care industry, and the shocking discovery that hospitals were not always the best advocates for patients or surgeons. He and his colleague dared to change this by establishing their own facility, a radical move that influenced the Trump executive order mandating price transparency.

We’re also discussing the growing trend of self-funded health care plans and why employers are looking for alternatives to traditional ones. Imagine a zero-deductible and zero-copay approach to health care; it’s happening, and it’s giving companies a competitive advantage in the labor market. But it’s not all smooth sailing; there are important regulations to consider like CAA notifications and ERISA. Plus, we highlight why quality assurance remains crucial when choosing healthcare facilities.

Rounding off, we question traditional quality metrics and argue for the value of price transparency in measuring the quality of care. We draw on insights from Marty McCary’s book “Unaccountable” to challenge the reliability of existing quality metrics. Finally, Dr. Smith shares his thoughts on the future of health care and the ongoing need for more transparency and patient advocacy. So, sit back and join us for a compelling discussion filled with revelations about the evolving health care industry.