The board shall establish procedures for selection of voluntary arbitration panels to assist the board in regulating fees and charges submitted by health care providers to the full extent authorized by Texas Civil Statutes, Article 8306, §7.(1) The executive director of the board shall prepare bylaws subject to the final approval of the board governing the operation and functions of the various voluntary arbitration panels.(2) The executive director of the board shall implement the procedures so adopted by the board. The executive director or designee shall supervise the arbitration panels established by the board, and shall serve as chairman of each panel. However, the executive director may from time to time designate the assistant executive director of the board or other person to act as chairman in his or her place.(3) The procedures for selection of panels and the bylaws shall be available to all parties.