AMA membership has risen for three years in a row, according to the association’s 2013 Annual Report.
The annual report also notes key accomplishments and important highlights from 2013, including:
- Achieving more than 85 state legislative and regulatory victories in collaboration with state and specialty medical societies, including advocating for physician interests in state-based health system reform, ensuring physician leadership in health care teams, preserving medical liability reform and more.
- Enhancing how we engage and inform physicians and medical students by reinventing AMA Morning Rounds and AMA Wire™, our primary communication products, to make them the destination for the latest news and information impacting the medical community.
- Developing and delivering high-impact solutions and services designed to bring value to physicians and fund the AMA’s mission-focused activities and operations.
- Pressing the Centers for Medicare & Medicaid Services to adopt new codes to cover complex chronic care management beginning in 2015, developed by workgroups of the Current Procedural Terminology (CPT®) Editorial Panel and the AMA/Specialty Society RVS Update Committee.
“Day in and day out the AMA’s strong voice ensures a leadership role for physicians through the important work we do that ultimately benefits our patients and the health of the nation," said AMA President Ardis Dee Hoven, MD. "Bringing physicians together to help chart and lead medicine's future course drives AMA efforts to advance key legislative issues, revolutionize medical education, improve technology, promote wellness and more.”
The AMA’s pro forma operating results for 2013 were $17.9 million, compared to $16.6 million in 2012 – a 7.8 percent increase. Pro forma operating results from 2013 exclude $33 million in nonrecurring charges relating to AMA’s headquarters relocation in September of last year. The reported net operating loss after including those charges is $15.1 million.
The charges occur as a result of required accounting treatment for future cash payments related to AMA's old headquarters where the lease runs until 2015, as well as the new headquarters where lease payments will not start until 2015. The AMA had anticipated these charges and previously included them in the 2013 budget.
Ultimately, the new lease will provide substantial annual savings to AMA, as both the square footage and rate per square foot are lower under the new lease. AMA's occupancy costs will be substantially lower per year than the previous occupancy costs.
Read the entire annual report.
