Eight years of progress towards the creation of a national health information network has resulted in a plethora of health data exchange relationships, most commonly called regional health information organizations (RHIOs). Various network types reflect both governance decisions and practical aspects, such as the need for a variety of information sharing pathways between and among organizations. Applying systematic business planning approaches will help ensure that decisions about structure, governance, pricing and incentive lead to RHIO arrangements that meet both the RHIOs' and the participants' business goals. This paper describes the model formulation stage of an ongoing project that applies operations research methods to RHIO participation decisions.