This podcast is about this Anesthesiologist, Keith Smith, who saw how corrupt the hospital he was working at was. The patients the received care at the hospital were surprised with how much they are paying for their surgery. As a doctor, Smith saw that the administration staff was getting paid more than the clinical staff. He decided that he was done with this facility and created his own. This is how he became an entrepreneur. One of his friends also walked away from his previous job to start this practice for themselves. Within a week, they received phone calls about how much certain surgeries were going to cost. How he came up with his prices are by asking different surgeons for what they would have the patient pay. It became important to him that patients knew what they were paying before walking through the door, this is why he posted them on a website. All through the podcast you see how this kind of market effects the business he created. How this is entrepreneurial is that Keith created and operated a surgical business that showed that you do not need to pay a ridiculous amount of money.
How this is interesting is that Smith does not have a surgical team. He gathers surgeons that are willing to do the service. Smith does not have them as employees but still has them on their medical team. This meaning that if a patient wants a specific surgeon, then he will give them a call and they will be there when they can. Another interesting fact is that the surgeon that preforms that surgery gets the money. Obviously not all the money that it costs to have procedure done, but I believe it was around five hundred dollars. This means that whatever doctor does the surgery gets paid for the service preformed. Looking at this as the patient, you would more than likely feel better about not just being someone that is paying the doctors, but that they came out of their way to help you.
How entrepreneurship affects society in this podcast is by giving them the benefits that they want and/ or need. By this I mean that the entrepreneur, Keith Smith, looks at what the patients would want to pay for a surgery, and not what the hospital wants the patient to pay for the surgery. Smith does not want to overpay people that are just trying to get the care they need. He is looking at ways to save money because he puts himself in their shoes. How the society affects the entrepreneur is that they keep coming back. They could goo to higher quality, well known hospitals, but they want to pay a reasonable price and still get good health care. There are people that come from all over the world to see Dr. Smith because he does not over charge. They also help spread the word about him. This also allows the entrepreneur to do their job and still get the praise for it. With this business not accepting insurance because they know that they scam you in a way, they still find a way to help those with little money. This hospital is a unique way to help people. They think of the patient first not just in a health way, but also financially.
