The FMMA Story: Buyers and Sellers Meet to Transform Healthcare
Dr Keith Smith & Jay Kempton
Co-founders of the Free Market Medical Association, Dr. Keith Smith and Jay Kempton, discuss how medical providers with transparent bundled pricing have connected with self-funded employers to save millions of dollars for companies and their employees.
About the Facilitator:
Dr. G. Keith Smith is a board certified anesthesiologist in private practice since 1990. In 1997, he co-founded The Surgery Center of Oklahoma, an outpatient surgery center in Oklahoma City, Oklahoma, owned by over 90 of the top physicians and surgeons in central Oklahoma. Dr. Smith serves as the medical director, CEO and managing partner while maintaining an active anesthesia practice.
In 2009, Dr. Smith launched a website displaying all-inclusive pricing for various surgical procedures, a move that has gained him and the facility, national and even international attention. Many Canadians and uninsured Americans have been treated at his facility, taking advantage of the low and transparent pricing available. His most recent effort is the launch of the Free Market Medical Association which provides a platform where those seeking to obtain high quality and affordable health care can find free market-minded providers, both physicians and facilities.
Operation of this free market medical practice, the standard for all who have embraced this practice approach, has gained the endorsement of policymakers and legislators nationally. More and more self-funded insurance plans are taking advantage of Dr. Smith’s pricing model resulting in significant savings to their employee health plans. His hope is for as many facilities as possible to adopt a transparent pricing model, a move he believes will lower costs and improve quality of care for all.
He has made appearances on the John Stossel Show, CNBC, Huffington Post, The O’Reilly Factor, Capital Account, The Ron Paul Channel, NBC Nightly News and has been featured by Reason Magazine’s TV division. The New York Times, Time Magazine, ABC news, Forbes and many others have written articles featuring Dr. Smith’s revolutionary approach to the pricing of health care and uncompromising free market principles.
In 1992, Joseph “Jay” Kempton started his journey with The Kempton Group, which was founded in 1969 by his father, Wayne Kempton. Mr. Kempton became the President and CEO in 2003 and has diligently worked with Oklahoma employers to ensure their employee benefits fit the needs of our community.