Christian Healthcare Ministries (CHM) Company Profile

Background

Christian Healthcare Ministries (CHM), established in 1981, is the nation's first and longest-serving health cost-sharing ministry. Operating as a nonprofit 501(c)(3) organization, CHM provides a faith-based framework for Christians to share medical expenses, embodying the biblical principle of "carrying each other's burdens" as outlined in Galatians 6:2. Headquartered in Barberton, Ohio, CHM has facilitated the sharing of over $11 billion in members' healthcare costs.

Key Strategic Focus

CHM's primary objective is to offer a cost-effective, faith-based alternative to traditional health insurance, enabling members to share medical expenses within a Christian community. The ministry emphasizes affordability, transparency, and adherence to biblical principles. CHM serves a diverse membership across all 50 states and internationally, focusing on individuals and families seeking healthcare solutions aligned with their faith.

Financials and Funding

In 2022, CHM reported revenues of approximately $752.9 million and expenses totaling around $723.4 million. The organization maintains a strong financial position with total assets of $164.6 million and liabilities of $4.7 million, resulting in net assets of $159.9 million. CHM's financial stability is further evidenced by its 80% rating from Charity Navigator, earning a Three-Star Charity designation.

Technological Platform and Innovation

CHM leverages a proprietary online Member Portal, enabling members to submit medical bills, track sharing status, and access resources efficiently. This platform enhances transparency and streamlines the cost-sharing process, reflecting CHM's commitment to innovation in serving its members.

Leadership Team

J. Craig Brown II: President and CEO, leading CHM with a focus on integrity and accountability.

Charity Beall: Vice President and Chief Financial Officer, overseeing financial operations.

Derrill Wakefield: Vice President and Chief Information Officer, managing technological initiatives.

Rich Bochart: Vice President, contributing to strategic development.

Norma Mull: Vice President, focusing on member services.

Lauren Gajdek: Vice President, handling communications and public relations.

David Zahn: Vice President, overseeing operational strategies.

David Tschantz: Vice President, managing legal affairs.

These leaders collectively guide CHM's mission to provide a faith-based healthcare solution.

Competitor Profile

Market Insights and Dynamics

The healthcare cost-sharing industry has experienced significant growth as individuals seek alternatives to traditional health insurance. This sector appeals to those desiring community-based, faith-aligned healthcare solutions.

Competitor Analysis

Christian Care Ministry (Medi-Share): Founded in 1993, Medi-Share offers a similar faith-based cost-sharing model with a membership exceeding 300,000. They emphasize a "healthy Biblical lifestyle" and have shared over $2.1 billion in medical expenses since inception.

Liberty HealthShare: Provides health cost-sharing programs with a focus on affordability and flexibility. They offer various plans catering to different needs and budgets.

Zion HealthShare: Offers health cost-sharing without religious requirements, appealing to a broader audience. They provide immediate sharing for preventive services and have no network limitations.

Strategic Collaborations and Partnerships

CHM has earned independent accreditation from Demotech, a financial analysis firm, demonstrating its commitment to accountability and transparency. This accreditation underscores CHM's dedication to consumer protection and operational excellence.

Operational Insights

CHM differentiates itself through its longstanding history, financial stability, and commitment to biblical principles. The ministry's transparent pricing, absence of network restrictions, and emphasis on community support provide a distinct competitive advantage in the healthcare cost-sharing market.

Strategic Opportunities and Future Directions

CHM aims to expand its membership base by enhancing technological platforms, increasing awareness of its programs, and strengthening partnerships. By maintaining its core values and adapting to evolving healthcare needs, CHM is positioned to continue its growth and impact in the faith-based healthcare sector.