Hospital bills: The enormous costs, negotiated insurance prices and the self-pay patient

Have you ever received a hospital bill and couldn't quite figure out how it could possibly be that expensive? I recently had a same day surgery at a local hospital which had a price tag of $47,000. Fortunately for me, a contract with my health insurance negotiated the cost down to $6,000. How is this possible? Whats wrong with the system? What about the self-pay patient? Joining me to discuss this bizarre system is Keith Smith, MD, Dr Smith is the medical director, CEO and managing partner of the Surgery Center of Oklahoma.