OKLAHOMA CITY – An association that is transforming the healthcare industry with the ‘free market’ concept is rapidly growing.
It all started with the Surgery Center of Oklahoma.
The center posts all of their prices online – every single one of them.
“People think that what we see in the United States is a failure of the free market in healthcare and what we really have is an absence of the free market in healthcare,” said Dr. Smith with the Surgery Center of Oklahoma.
Knowing the price before you buy, a concept that’s gradually changing the healthcare industry.
“We saw all of the wonderful benefits, you know, better care, more efficient care, lower cost, and we figured, well, this is something that everybody in the country needs to know about,” said Jay Kempton with The Kempton Group.
So, Kempton and Smith launched the Free Market Medical Association.
“It’s basically being a beacon nationally for buyers and sellers so they can learn how they can do business together in a much more efficient way, very much like the way a consumer buys a hammer at a hardware store,” Kempton said.
In this case, the buyers are patients and employers and the sellers are physicians, facilities and surgeons who offer up front, transparent pricing.
The FMMA now has over 15 chapters across the country.
The concept continues to grow.
An executive order signed by President Trump last week encourages the development of the free market concept in the medical field.
“It was a directive to the agencies like health, and human services and etc. that said, if there is anything that is burdensome to essentially a buyer or seller of healthcare goods and services, that we want you to stop the enforcement and also stop any new regulations that you may be putting out,” Kempton said.
It’s something the FMMA will be keeping a close eye on in the weeks and months to come.
If you’re interested in learning more about the FMMA and the Surgery Center of Oklahoma, there will be a public meeting at 6 p.m. Thursday at the center located at 9500 Broadway Extension.