Tuesday, September 18, 2012

Cash Only Hospital

Yesterday we posted about a unique business model for health care transparency. In Must See TV featured an interview with Dr. Keith Smith where he outlined the unique practice at the Surgery Center of Oklahoma.

The hospital operates on a cash only basis.      

They do not accept health insurance, Medicare or Medicaid funds. The hospital does not receive any government funds which offers them a great deal of flexibility in pricing and other administrative procedures. He claims this model also exempts them from the EMR requirements of Obamacare.

Their approach is designed to deliver low cost, efficient health care in a manner that cuts through a lot of red tape and overhead. In doing so they are able to post prices for most of their procedures online.

Sample prices appear below.

Arthroscopic hip surgery is $5575.

ACL repair $6990

Mastectomy $5500

Hysterectomy $8000

Circumcision $2000

Prices quoted include anesthesiology.

This approach is not for everyone but for those without insurance (and even if you have insurance) it is something to consider.

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