Keith Smith on Free Market Health Care

EconTalk

Library of Economics and Liberty

Ethics, Philosophy, Economics, Books, Science, Business, Courses, Social Sciences, Society & Culture, Interviews, Education, History

4.7 • 4.3K Ratings

🗓️ 18 November 2019

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Entrepreneur and Anesthesiologist Keith Smith of the Surgery Center of Oklahoma talks with host Russ Roberts about what it's like to run a surgery center that posts prices on the internet and that does not take insurance. Along the way, he discusses the distortions in the market for health care and how a real market for health care might function if government took a smaller role.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:08.0	I'm your host, Russ Roberts, of Stanford University's Hoover Institution.
0:12.0	Our website is econtalk.org, where you can subscribe, comment on this podcast,
0:17.0	and find links and other information related to today's conversation.
0:21.0	You'll also find our archives where you can listen to every episode we've ever done going back to 2006.
0:27.0	Our email address is mailadycontalk.org. We'd love to hear from you.
0:33.0	Today is September 12, 2019, and my guest is entrepreneur and anesthesiologist Keith Smith,
0:40.0	the co-founder of the Surgery Center of Oklahoma in Oklahoma City.
0:44.0	Our topic today is that center, the potential for a true market in healthcare,
0:50.0	not the one we have now, which is distorted in so many ways. Keith Welk of the Econ Talk.
0:56.0	Thanks for having me.
0:57.0	I went to your website of the Surgery Center of Oklahoma.
1:01.0	I think some people, if they come upon it, must think it is supposed to be humor,
1:08.0	as opposed to a serious medical facility. I hope that doesn't alarm you.
1:12.0	There is an outline of a human body. There are a roll over points for your cursor of the body in all different places, shoulder, pelvis, head, neck, wrist.
1:25.0	And when your cursor rolls over that, it gives you a choice of surgical procedures for those different parts of the body.
1:31.0	They're common and that you conducted the center.
1:34.0	And then the incredible thing is there's a set of prices.
1:37.0	You promise 100% transparency, so there are no surprises.
1:42.0	It's inclusive of the facility charge, the anesthesiology, and you only take cash.
1:50.0	On your website, you say you are a free market loving, price displaying state-of-the-art, triple-A, HC accredited,
1:56.0	doctor-owned, multi-specialty, surgical center, surgical facility, in central Oklahoma.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Library of Economics and Liberty, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Library of Economics and Liberty and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.