Charles Kroll 0

Restore the Financial Integrity of ABIM in a Matter of Minutes

Charles Kroll 0 Comments
0 people have signed. Add your voice!
0%

[Under Construction; Signatures Not Accepted]

Bankrupt on paper with a Fund Balance Deficit of $47.9 million as of June 30, 2014, the financial integrity of The American Board of Internal Medicine can be restored in a matter of minutes by taking three simple steps:

1. Transfer back at least $50,000,000 from ABIM Foundation, or an amount sufficient to fully fund the current Deferred Revenue Liability with cash currently held by ABIM ($47.6 million as of June 30, 2014)

2. Restrict access and escrow cash equal to all pre-paid, unearned Deferred Revenue ($94.1 million as of June 30, 2014) and expressly prohibit it's use to fund current year operations.

3. Immediately terminate pre-payment of certification option beyond current year.

These steps will immediately restore ABIM's Fund Balance to a surplus for the first time in at least 18 years, end the reckless spending of Deferred Revenue cash to fund current year losses, and stop the practice of accumulating millions in pre-paid, unearned cash.


Share for Success

Comment

Signature

No signatures yet. Be the first one!