By Charity Beall, CHM Chief Financial Officer (CFO)
Editor’s note: This information was published in the December 2019 issue of Heartfelt Magazine, CHM’s monthly magazine that provides CHM membership-related tips and tricks, medical advice from doctors, testimonies from CHM members, and more. Please refer to the CHM Guidelines and applicable web pages for the most up-to-date information regarding CHM membership, sharing eligibility, and ministry news.
Webster’s dictionary defines “transparent” as “free from pretense or deceit; easily detected or seen through; readily understood; characterized by visibility or accessibility of information.”
In finance, transparency is worth its weight in gold. To be transparent is to be accountable.
This is why CHM values healthcare providers who offer transparent pricing and, consequently, the knowledge of medical costs before you incur them. Providers that are true to the free market principles discussed in our article last month offer transparent pricing.
I had the privilege of sitting down with Dr. Keith Smith, co-founder of the Free Market Medical Association and co-founder of the Surgery Center of Oklahoma. He told me that the trend of transparent pricing and transitioning to independent medical practice is catching fire because doctors can define the appropriate compensation for their services. Doctors can take better care of their patients and take more time treating their specific needs. This appeals to many people in the medical community.
Like the free market movement for doctors and medical providers, CHM works within these same free market principles of choice and transparency. You have the freedom to choose your doctor, treatment and place of service without restrictions from CHM. CHM is also committed to transparency. Our pricing is uncomplicated, easily found and doesn’t change depending on your health or age.
When you go to our website, you will see at the bottom of our home page a link called “Integrity & accountability.” Click on this link and you can review a list of the ways CHM holds itself accountable and is accountable by others. You can also find a list of CHM’s leadership and board of directors along with their bios. Our financial statements and IRS Form 990s are available upon request and on guidestar.org. CHM reports annually to the Better Business Bureau and since 2014 has received the highest rating available for a charity. Our goals are excellence, accountability, integrity and transparency.
“But if we walk in the light, as He is in the light, we have fellowship with one another, and the blood of Jesus, His Son, purifies us for all sin.” 1 John 1:7 (NIV)