Can somebody explain this?

[Marasmus1]

I have just paid for my child board which was 2400$. It is 1900$ but I was a day late because struggling financially as a fellow, they charged me 500$ late fee. Last year I had paid for my Adult Board which was 1900$ as well. So in total, as a resident I paid 4300$ to ABPN. I have some questions related to this organization. As I skimmed through their website I am not seeing any initiative or service that require this amount of payment from physicians. Maybe I am wrong? An if I am, that would make me feel better because I just feel that I threw my money into thrash.

1) Why are these exams so expensive?

2) ABPN is non profit organization so their taxes are open to public, If my eyes are not tricking me why are all their executives making above 350k and their CEO Larry Faulkner making 1M $ for 40 hours of work?

3) They have 150M $ of net assets. What is this money used for as a non profit organization? I could not see that in their website. Are they lobbying in federal and state levels advocating for psychiatrists and mental health care ?

I hope somebody can relieve me of my distress.

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Members don't see this ad.

 

[Stagg737]

The short answer is that they charge so much because they can. Some employers require you to be board certified or eligible or they won't hire you. There are some benefits, but it's largely a racket. Just know that you fortunately only have to pay this once every 10 years and that if you go into PP it's not necessary to renew.

 

[Candidate2017]

I hope somebody can relieve me of my distress.

Radical acceptance. Of the fact everyone has their hands in our pockets ever since we decided to become doctors: MCAT, med school apps, med schools, student loan execs, Steps, ERAS, residencies, faculty, state and fed licensing, malpractice insurers, lawyers, boards, MOC, CME, hospital execs, insurance execs, clinic owners, midlevels, EMR execs, EPCS execs, etc.

On the bright side, we get occasionally get some nice pens from pharm reps. Sometimes a sandwich too.

 

[splik]

It’s a scam. I was also very upset when as a resident I had to pay a late fee and I really had very little money as it is. They also refused to put my name on the certificate the way I wanted it. Larry Faulkner is no longer CEO tho, he’s retired probably with a fat pension

That said they make most of their money from the most epic scam of all - MOC. Initial cert fees don’t bring in as much for them.

 

[Sushirolls]

You took the pill.
Now you see the matrix.
The machines are coming for your wallet.
Now get back in the wRVUs coal mine.
RVUs won't mine themselves.

Start whistling:

 

[randomdoc1]

The short answer is that they charge so much because they can. Some employers require you to be board certified or eligible or they won't hire you. There are some benefits, but it's largely a racket. Just know that you fortunately only have to pay this once every 10 years and that if you go into PP it's not necessary to renew.

Although some of the good paying insurances do require board certification : (.

Radical acceptance. Of the fact everyone has their hands in our pockets ever since we decided to become doctors: MCAT, med school apps, med schools, student loan execs, Steps, ERAS, residencies, faculty, state and fed licensing, malpractice insurers, lawyers, boards, MOC, CME, hospital execs, insurance execs, clinic owners, midlevels, EMR execs, EPCS execs, etc.

On the bright side, we get occasionally get some nice pens from pharm reps. Sometimes a sandwich too.

Yes, radical acceptance indeed. Although, I do find some very therapeutic validation that our specialty is one of the most capable of being independent. It's very empowering to be able to carve out your lifestyle. Do I still have to deal with BS? You bet! But just keep on steadily paving/chiseling your way. Slowly but surely, and you can make a nice haven!

 

[allantois]

Larry Faulkner: Million Dollar Shrink | BehaveNet

According to the 2014 IRS Form 990 the American Board of Psychiatry and Neurology (ABPN) paid psychiatrist Larry Faulkner, MD a total of $903,960 at a time when primary care practices can barely afford to stay open, and psychiatric patients must often wait months to get an appointment.

www.behavenet.com

 

[calvnandhobbs68]

Yep total scam. Once you're boarded by ABPN though you can apply for board certification through NBPAS, which is what I may do once I have to renew again. They met accreditation standards from Joint Commission (another scam organization but whatever) so many hospitals and insurance companies are allowing them to be used as stating you're "board certified" now. Hopefully if enough of us switch over it'll put pressure on ABPN to lower prices and be more reasonable with MOC.

NBPAS - Providing a Pathway for Continuous Certification

NBPAS is a physician-led organization providing another pathway for continuous board certification that is clinically relevant, specialty-specific, and reducing burdens.

nbpas.org

WHAT IS THE COST OF NBPAS CERTIFICATION?​

NBPAS Certification costs $189 every two years. Discounts are available for medical fellows and the military.

 

[PikminOC]

Larry Faulkner: Million Dollar Shrink | BehaveNet

According to the 2014 IRS Form 990 the American Board of Psychiatry and Neurology (ABPN) paid psychiatrist Larry Faulkner, MD a total of $903,960 at a time when primary care practices can barely afford to stay open, and psychiatric patients must often wait months to get an appointment.

www.behavenet.com

He didn't work even 40 hours a week for them.

 

[smalltownpsych]

Radical acceptance. Of the fact everyone has their hands in our pockets ever since we decided to become doctors: MCAT, med school apps, med schools, student loan execs, Steps, ERAS, residencies, faculty, state and fed licensing, malpractice insurers, lawyers, boards, MOC, CME, hospital execs, insurance execs, clinic owners, midlevels, EMR execs, EPCS execs, etc.

On the bright side, we get occasionally get some nice pens from pharm reps. Sometimes a sandwich too.

We are completely infested with parasitic organisms. Maybe we should come up with a treatment for this.

 

[PsyDr]

Now start asking: Why were people, who were grandfathered in, given positions to increase the training requirements? It's literally a less trained person saying, "I didn't have to do X and it turned out okay, but I think the younger people should have to do more.".

And why are the new requirements not required of everyone?

Get in, make money, increase barriers.

 

[Coupd'Cat]

2) ABPN is non profit organization so their taxes are open to public, If my eyes are not tricking me why are all their executives making above 350k and their CEO Larry Faulkner making 1M $ for 40 hours of work?

I hate this so much.

 

[comp1]

ABPN is one thing. They were always parasitic. But almost no one is fighting against this. I let my APA membership lapse partly because they not only didn't fight against MOC, they signed on to literally become a part of it and get on the gravy train themselves.

 

[troutscout]

I didn't get board certified. I refuse to buy in to the racket. I'm in PP.

 

[Sushirolls]

ABPN doesn't even give us the articles... we have to find them or buy them ourselves for MOC.