The American Medical Association achieved its eighth-straight year of financial growth in 2007, said Michael Maves, the groups chief executive officer and executive vice president, at the AMA House of Delegates annual meeting this weekend in Chicago. It also recorded its first growth in membership in years, but that growth was achieved with the help of free memberships given to first-year residents.
According to its annual report, revenue increased 1.2% to $289.5 million from $286 million. And while membership increased for the first time in seven years, to 241,026 from 238,977 or 0.9%, this boost was achieved with the help of a program that resulted in 8,577 free memberships for first-year residents who had been student members the previous year, according to the Performance, Activities and Status trustees report issued to delegates.
The annual report noted that 2007 revenue from membership dues fell 3.6% to $45.2 million from $47 million in 2006.
In addressing delegates on Saturday, Maves warned how the stagnant membership (figures) cannot continue. He told how, for many physicians, the AMA is seen as irrelevant to their daily lives. The AMA will counter this by working to develop tools that will help physicians practices thrive and allow them to get home in time for their daughters dance recitals, Maves said. -- by Andis Robeznieks