Free Market Friday: Transparency the key to reducing health care costs – The Journal Record

“One can spend hours on the phone tracking down the billing department only to hear from a lamenting administrator that they can’t share the negotiated price until after the procedure is performed. Then, weeks after the episode of care is over, an individual receives an outrageous bill in the mail that supposedly takes into account the “discount” for using an in-network doctor.

There’s no question that these convoluted pricing and payment schemes have contributed to higher health care costs and health insurance premiums. When consumers are kept in the dark, many providers can continue to increase prices simply because they can.

Price transparency is long overdue. Fortunately, some Oklahomans have been shaking things up in the health care industry long before President Trump’s promising executive order. For over a decade, Dr. Smith, co-managing partner at the Surgery Center of Oklahoma, has been leading the nation in true price transparency in his outpatient facility in Oklahoma City.”