$60 Million in Gross Receipts for American Board of Family Medicine in 2012 Alone

ABFM logo2

I found on this site that the ABFM made $ 112.4 million reported in total assets in 2012 with $ 60.5 million reported in gross receipts.  Here is the tax form.  The other ones are on the Change Board Recertification as well. Have fun looking at them.  That site also explains the many false beliefs we have had about this travesty.  Why is anyone trying to convince the ABMS or any individual boards to change?  Would you stop the gravy train of income?  We need to work with our state legislatures like Oklahoma and make it a law that insurance companies or hospitals cannot drop you if you are not “recertified”.  It is not proven and it is a scam.  Stop paying them money.  And if you don’t bill insurance companies or don’t need hospital privileges then please walk now!

Douglas Farrago MD

Douglas Farrago MD is a full-time practicing family doc in Forest, Va. He started Forest Direct Primary Care where he takes no insurance and bills patients a monthly fee. He is board certified in the specialty of Family Practice. He is the inventor of a product called the Knee Saver which is currently in the Baseball Hall of Fame. The Knee Saver and its knock-offs are worn by many major league baseball catchers. He is also the inventor of the CryoHelmet used by athletes for head injuries as well as migraine sufferers. Dr. Farrago is the author of four books, two of which are the top two most popular DPC books. From 2001 – 2011, Dr. Farrago was the editor and creator of the Placebo Journal which ran for 10 full years. Described as the Mad Magazine for doctors, he and the Placebo Journal were featured in the Washington Post, US News and World Report, the AP, and the NY Times. Dr. Farrago is also the editor of the blog Authentic Medicine which was born out of concern about where the direction of healthcare is heading and the belief that the wrong people are in charge. This blog has been going daily for more than 15 years Article about Dr. Farrago in Doximity Email Dr. Farrago – [email protected] 

  4 comments for “$60 Million in Gross Receipts for American Board of Family Medicine in 2012 Alone

  1. mamadoc
    April 28, 2016 at 7:32 pm

    To quote the opening line from an old play, “Excuse me, I may vomit.”

  2. Kurt
    April 27, 2016 at 3:20 pm

    Academic B-st–ds and F—ing Morons are not so dumb since they can bilk us out of a pile of money and bleed us out. We’re at the bottom of the medical s–tpile. Doug pointed out the head of the
    ABFM makes $745,000 a year. How much to you make? Board certification is just an excuse for these organizations to make money off of us. Has it done any good in this country?
    Look around at the obesity/diabetes rates and I’d say NOT!!
    The overall health of the country is not going to change until patients are held accountable for their
    lousy health habits. Not beating primary care Drs. and hospitals over the head for readmissions we
    can’t control. DO NOT GO INTO PRIMARY CARE MEDICINE PERIOD!! I have a 46 y/o colleague who is bailing out because she’s disgusted with the whole scheme of things.

  3. Perry
    April 27, 2016 at 11:46 am

    I just took my 3rd FP recert, and hope it’s my last. If I want to stay boarded, will still have to deal with MOC. The only reason I keep it is so I can do IMEs in my state, which I do in my office periodically now, but keeping as a possible retirement gig. Otherwise, I’d let it go.

  4. Bill Ameen MD
    April 27, 2016 at 9:07 am

    F***ing unbelievable!! I talked to an internist colleague yesterday who’s volunteering at a free clinic. He’s age 70 and certified “for life”. I remember when I first Boarded in 1976 I felt it was a mark of pride that we were to take the exam every 6-7 years. I studied less every time because I was always busier, but I got by it. I assume that with Pisacano’s influence there was a healthy curve! After all, to what benefit would the Board be flunking doctors? Even when I was forced to study OB, tropical diseases, and other arcane topics I had little contact with, year after year, I was still enthusiastic. And then came MOC, hot on the heels of my last exam in 2007. And finally, the financial exposure of ABFM and ABMS. We need state laws! As backwards as Oklahoma is in a lot of ways, this is wonderful bipartisan legislation! My “life-certified” colleague is certainly not less smart than I am because he didn’t retake an exam over and over and hemorrhage time and money. While ABIM is rethinking MOC, why is ABFM so conspicuously silent??

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