Oklahoma City-based Surgery Center of Oklahoma's Keith Smith, MD, shared lessons from running a cash-based ASC in the ASC Physician Focus newsletter.
Here are seven takeaways:
1. Canadian patients often utilize online pricing, which indicates single-payer or "Medicare for all" systems don't work, Dr. Smith said.
2. Domestic patients are willing to travel for what they perceive as quality specialty care.
3. Insurance carriers don't value transparent pricing because it prevents them from skimming the transaction.
4. True market pricing can't be imposed on medical service providers because imposed prices are either too high or too low.
5. Transparent pricing models don't work for inefficient surgeons, those with unusually high implant use or those involved in fee-sharing arrangements with implant manufacturers.
6. A cash-based environment keeps supply and equipment representatives more price accountable.
7. Cash-based facilities work well together and coordinate with each other.
Click here to read more insights on running a cash-based ASC.