The 2022-23 AMA Business Plan, approved in September was developed with a continued focus on essential deliverables, while working towards a new agreement with government. The ratification of the AMA Agreement in October, introduced several new deliverables, and created new policy opportunities, which were not part of the original business plan.
As a result, following the ratification of the Agreement, the Board undertook a review and produced a 2022-23 Business Plan Update, highlighting the new activities and providing an updated financial forecast.
New Activities
Most of the priority activities identified in the 2022-23 Business Plan remained, except for those related to the negotiations itself (Master Agreement negotiations, lawsuit, etc.). What changed in some cases, was how these deliverables could be achieved, with formal mandates in place under new agreement structures. Updates on these items are provided in Part 2 of this update below.
Updates on the new activities outlined in detail in the Business Plan Update document on the AMA website are provided in Part 1 of this update below.
Updated Budget Forecast
The budget forecast updated in Part 3, incorporates the shifts and net reduction in expected spending with the new agreement in place as well as the new revenue forecast.
Part 1 - New Activities
New Activities
New ActivitiesThese additional activities were included in the 2022-23 Business Plan Update, prepared by management and approved by the Board following ratification of the AMA Agreement.
Part 2 - Reporting against the original business plan activities
Update on KRA 1, Financial Health
Key Result Area 1: Financial healthThe AMA assists and supports members in maintaining their financial health. This includes negotiating with payers to ensure fair compensation, the provision of practice management services and the offering of financial products. Members in training are supported through a number of scholarships and bursaries.
Update on KRA 2, Well being
Update on KRA 2, Well beingThe AMA supports members in maintaining healthy work-life integration, including being a leader in the development of a comprehensive physician health program. The AMA promotes and supports physicians contributing to the broader community through activities like the AMA Youth Run Club and Emerging Leaders in Health Promotion grant program. The AMA also supports physicians in their efforts to attain safe, healthy and equitable work environments.
Update on KRA 3, System Partnership and Leadership
Update on KRA 3The AMA supports members in their role as leaders within the health care system. This includes supporting physician leadership in developing innovations in care delivery and integration of primary and specialty care. Other activities include the AMA’s key role, with Alberta Health (AH) through the AMA Agreement, in developing and implementing the physician payment strategy for the province; several programs aimed at quality improvement; activities related to eHealth; and supporting the development of physician leadership skills.
Update on Healthy AMA
Update on Healthy AMAAchieving the goals under the three Key Result Areas requires a healthy, vibrant and sustainable AMA.
Part 3 - Financial Update
Budget Year-end Update
Budget year-end updateThe budget was based on the Board’s plan to make the necessary resources available to ensure an agreement was reached and support members during the interim uncertainty. The revised budget was prepared following ratification of the agreement and reflected the more stable environment and the substantive changes in planned activity brought about by an agreement outlined in part 1 of this report. The projected actual column reflects our best estimate of the financial results to the end of the fiscal year September 30, 2023. Overall, a small surplus is expected for the year.