Self-Funded With Spencer

Can Market-Based Pricing Save Healthcare? (with Dr. Keith Smith)


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“In what other industry are you just not covered up with business if you're cheaper and better? This is America, for God's sake." - Keith Smith


This is a special episode with a special guest: Dr. Keith Smith from the Surgery Center of Oklahoma. Keith realized in the 1990s that the surgery system in America was exploitative and unfair, and decided to “rebel”, setting up a “parallel market” to sell surgeries direct to consumer at a listed price without any middlemen.  


The idea of a consumer knowing the price ahead of purchasing a service (and not being charged afterward!) seems fundamental and obvious in every industry in our country, but it’s a completely revolutionary way of doing business in the healthcare industry. I talked with Keith about what made him realize that there had to be a better way of doing business, what it was like to be such a trailblazer, and why publicly posting his prices on his website was such a big deal. 


If you want to hear an amazing conversation with a doctor who’s made real change in curbing price gouging in our industry, tune in this week on Self-Funded with Spencer with Dr. Keith Smith. 


Chapters:

00:00:00 Meet Dr. Keith Smith

00:00:20 Spencer’s Son’s ER Trip

00:05:53 Transparent Surgical Bundle Pricing
00:22:17 Setting Surgical Prices Over The Phone
00:24:30 Allowing The Market To Drive Prices
00:40:21 Empowering Consumers By Posting Prices Online
00:42:30 Incentivizing Informed Healthcare Choices
00:53:03 Teaching Consultants On This Model
01:06:34 The Return To Free Market Healthcare


Key Links for Social:


@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded


Listen on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02


Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286


Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/


Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/


Key Words: 

#DirectPricingModel #HealthcareTransparency #BundledSurgicalProcedures #PackagedPricing #SelfFundedEmployers #ZeroDeductible #ConsultantsInHealthcare #FreeMarketHealthcare #HealthcareCostSavings #TransparentHealthcare #BetterHealthcareChoices #ConsumerCentricHealthcare #selffunded #podcast

Direct Pricing Model, Healthcare Transparency, Bundled Surgical Procedures, Packaged Pricing, Self Funded Employers, Zero Deductible, Consultants In Healthcare, Free Market Healthcare, Healthcare Cost Savings, Transparent Healthcare, Better Healthcare Choices, Consumer Centric Healthcare, self funded, podcast

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Self-Funded With SpencerBy Spencer Smith

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