This post from the NCPA web site show why we need more price transparency in health care.
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, says News Channel 4 Oklahoma City.
- Dr. Keith Smith and Dr. Steven Lantierlaunched Surgery Center of Oklahoma 15 years ago, founded on the simple principle of price honesty.
- Surgery Center of Oklahoma started posting their prices online about four years ago.
- The prices are all-inclusive quotes and they are guaranteed.
- Surgery Center of Oklahoma does accept private insurance, but thecenter does not accept Medicaid or Medicare, thus avoiding government regulation and control.
Their goal was to start a price war and they did. The difference in price is staggering.
News Channel 4 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 costs $3,500 at Surgery Center of Oklahoma.
- OU Medical Center billed $20,456 for the open repair of a fracture; the procedure costs $4,855 at Surgery Center of Oklahoma.
- OU Medical Center billed $21,556 for a gall bladder removal surgery; the procedure costs $5,865 at Surgery Center of Oklahoma.
- OU Medical Center billed $23,934 for an ankle arthroscopy; the procedure costs $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.
Source: “Oklahoma City Hospital Posts Surgery Prices Online; Creates Bidding War,” New Channel 4 Oklahoma City, July 8, 2013.