Even as a decline in membership income continued, the American Medical Association says profits improved in 2002, thanks to increased revenues from services and continued belt-tightening.
The AMA reports a $11.7 million operating profit for the year, a 138% increase from 2001, representing the third straight year of profit.
But the AMA reports that membership revenues were $4.3 million below 2001 levels and $400,000 lower than 2002 estimates.
The organization attributed part of the membership revenue decline to a delay in its new direct membership marketing program. It did not provide numbers of members.
On the other hand, the AMA says it saw a $7.3 million increase in total revenues, powered by its business operations--such as publications, services and databases--which combined brought in 3.7% more in revenue than the year before.
In addition, the AMA says overall business expenses for the organization were $3.8 million less than forecast, "due mainly to expense management."
"We've been very successful in leading the AMA through difficult economic times while ensuring that the AMA's highest priority goals receive the resources they need and deserve," says AMA finance chairman Herman Abromowitz, M.D., in an AMA release.