in Health

The Unjust Enrichment at ABIM

by HealthMatters November 23, 2023, 4:09 am 1.1k Views

In keeping with a Medscape survey of US internists in 2018, their common wage was $230,000.

That very same 12 months, in keeping with recently-released tax paperwork, Richard Baron, MD, President and CEO of the American Board of Inside Medication (ABIM) and the ABIM Basis, earned a cool $1,425,605 and non-physician Rebecca Lipner, the Senior Vice President, and Chief Monetary Officer (who has by no means authored a examine that wasn’t supportive of the certification trade in her tenure with ABIM) earned $758,502:

(It is usually notable that ABIM has a former PriceWaterhouseCooper govt serving as Chief Medical Officer that earns over half one million {dollars} yearly as properly).

Internists pay these salaries from their testing charges. Those self same testing charges additionally pay “bonuses” that these executives unilaterally resolve to bestow upon themselves, together with “retention bonuses.” However a “retention bonus” from an “early retirement severance package deal” makes completely no sense in any respect.

From ABIM’s 2018 Type 990:

“IN 2016, ABIM MADE AVAILABLE TO CERTAIN ABIM EMPLOYEES AN EARLY
RETIREMENT SEVERANCE PACKAGE WHICH INCLUDED A PROVISION FOR YEARS OF
SERVICE. REBECCA LIPNER, ABIM SENIOR VICE PRESIDENT OF ASSESSMENT &
RESEARCH, QUALIFIED FOR THIS EARLY RETIREMENT SEVERANCE PACKAGE. IN AN
EFFORT TO ENCOURAGE HER TO STAY, ABIM OFFERED REBECCA LIPNER A
RETENTION BONUS TO REMAIN EMPLOYED WITH ABIM AS SENIOR VICE PRESIDENT
OF ASSESSMENT & RESEARCH THOUGH 6/30/2018. THE 2-YEAR AGREEMENT, SIGNED
IN MARCH 2016, PROVIDED FOR THE PAYMENT OF A RETENTION BONUS WITHIN 30
DAYS AFTER 6/30/18 IF CERTAIN TERMS AND CONDITIONS, AS PROVIDED IN THE
AGREEMENT, HAD BEEN FULFILLED.

AS OF 6/30/18, THE TERMS AND CONDITIONS PROVIDED FOR IN THE AGREEMENT
HAVE BEEN FULFILLED.
IN COMPLIANCE WITH TERMS OF THE SIGNED AGREEMENT, IN JULY 2018, ABIM
RESEARCH, A ONE-TIME RETENTION BONUS IN THE AMOUNT OF $300,000.
AS PER INSTRUCTIONS FOR SCHEDULE J, $300,000 WAS INCLUDED ON SCHEDULE J
PAID REBECCA LIPNER, ABIM SENIOR VICE PRESIDENT OF ASSESSMENT…”

Salaries to some executives of the ABIM have virtually doubled since 2010. These exorbitant salaries and questionable “bonuses” are little greater than taxation to physicians with out applicable illustration.