Welcome to the Memorial Health System Financial Transparency webpage.
For those of you who are existing patients, we thank you for continuing to place your trust in our ability to serve you and your family. For those who are new to Memorial, welcome! Our mission is to improve the health of the people and communities we serve. We are guided by our values – safety, integrity, quality and stewardship – in everything we do.
This page is intended to help you navigate a new era of price transparency. Memorial has been working to ensure we are able not only to comply with state and federal guidelines related to price transparency, but also to provide you with the tools necessary to make informed healthcare decisions. Choosing healthcare services for you and your family no longer means simply selecting the best providers – it also means considering how the cost of healthcare will impact you. Memorial understands that these financial considerations are a key part of your decision-making process and we have prepared the following to assist you:
- A price estimator for 300 commonly shopped services
- A downloadable, machine-readable spreadsheet that includes our facility reimbursement rates, by insurance payor and plan type. Note that traditional Medicare and Medicaid are excluded from this file.
Memorial Health System reviews our prices yearly to ensure we are market-competitive. Our prices are reviewed annually by our Board of Directors – a diverse group of community leaders who work in the best interest of the people and communities we serve. Together we strive to provide you with the best price for the services you use while in our care.
We also want our communities to understand how we spend the money we receive. As a not-for-profit organization, each dollar spent by Memorial Health System is used to fulfill our mission. Unlike for profit companies, Memorial does not keep any excess profit or pay shareholders. On this page we share with you a breakdown of how we spend all our revenues.
Memorial Health System contributes more than $100 million annually in community benefit – aimed at improving community health, helping to further medical research and education and providing financial assistance to those who need it. A more recent, and pertinent, example of improving community health is Memorial’s response to the COVID-19 pandemic by providing testing locations.
For more detail, we encourage you to review our annual report. These reports provide more detailed information about how Memorial Health System is fulfilling our mission and being good stewards of our financial resources.
Price transparency, like your health, is an area best approached as a partnership. Our commitment to you is to provide the appropriate financial resources, in the most transparent way, to help you make the best healthcare decisions for you and your family.
Katie Keim, CPA, FHFMA
Senior Vice President and Chief Financial Officer
Vice President, Revenue Cycle