2008-2009 annual report - ahra · 2016. 11. 1. · july 1, 2008 – june 30, 2009, a total of 4,693...

2008-2009

Annual Report

AHRA 2008-2009 Annual Report 2

Copyright © 2009 AHRA. All rights reserved.

About AHRAAHRA is the preeminent organization for leaders in medical imaging management. The association offers acomplete slate of professional development programs—including a comprehensive selection of educationalconferences and seminars, the Leadership Institute, networking opportunities, award-winning publicationsand the CRA credential. Founded in 1973, AHRA’s membership reaches across the country and around theworld. Its approximately 4000 members represent management at all levels for freestanding imaging centers,hospital imaging departments, and group practices.

MissionAHRA is a resource and catalyst for the development of professional leadership in medical imagingmanagement.

VisionAHRA will be the association of choice for leaders in medical imaging management. It will be dedicated todeveloping products and services driven by member needs. The association will be a driving force towardimproving the healthcare environment.

2008-2009 Annual Report

ContentsAHRA/AHRAEF Governance/Staff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4Message from the President and Executive Director. . . . . . . . . . . . . . .5Membership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6Online . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7Conferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8Publications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9Certification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11Message from the AHRA Education Foundation Chair . . . . . . . . . . .12AHRA Education Foundation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13FPI Sponsors and Donors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14AHRAEF Donors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16Message from the Finance Director . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17Report of Independent Auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18Statement of Financial Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19


4AHRA 2008-2009 Annual Report

2008-2009 AHRA/AHRAEFGovernance

AHRA Staff

AHRA Board of Directors

PresidentPenny M. Olivi, CRA, FAHRA

Past-PresidentJeffrey A. Palmucci, CRA

President-ElectDebra A. Lopez, CRA, FAHRA

Finance DirectorMichelle M. Wall, CRA, FAHRA

DirectorsDeborah ClarkLuannCulbreth, CRADavid Fox, CRAKevin Hendrickson, CRARichard Lewis, CRAJoan R. Oakley, FAHRABonni Standley, CRACarlos E. Vasquez, CRA, FAHRAEd Yoder

AHRA Education Foundation Board ofDirectors

ChairTerry A. Dowd, CRA, FAHRA

Vice-ChairMark A. Watts, CRA

Finance DirectorMichelle M. Wall, CRA, FAHRA

DirectorsMaureen R. FirthDebra A. Lopez, CRA, FAHRAJay P. Mazurowski, MS, CRA, FAHRAPenny M. Olivi, MBA, RT, CRA, FAHRAJeffrey A. Palmucci, CRA

Executive DirectorEdward J. Cronin, Jr., CAE

Executive AssistantSarah Murray

Marketing DirectorSusan Hamilton

Publications DirectorDebra L. Murphy

Assistant EditorEmily Doutre

Membership CoordinatorEmily Ryan

Member Services SpecialistJillian Nanof

Member Services SpecialistSarah-Jane Belinskas

Rapid Review CoordinatorRenee Decourcy

Accounting CoordinatorSuzee Slatton

Web Site AdministratorRyan Ocampo

Web Site CoordinatorNicholas Weidman

Certification CoordinatorKathryn Keeler

Message from the Presidentand Executive DirectorThe past twelve months have been very difficult for our economy. Recession,unemployment, bankruptcy, bailouts, and stock market decline have becomekey words of this time. Healthcare faces the additional burden of uncertainty rela-tive to contemplated reforms.

We wish we could say that AHRA has been immune from these realities, but wehave had a challenging year. Membership renewals, meeting attendance, andadvertising revenues have all been significantly lower than normal. Thesedeclines have been consistent with other organizations. But there is some GOODNEWS!

In its 36 years of existence, AHRA has been well managed and previous leader-ship had the foresight to do two things. First, they established a very clear visionof what our purpose and mission should be. And, second, they established andfunded a reserve investment account to be available for difficult times or for newopportunities.

As we began preparing our 2009 budget back in October 2008 and as we havemonitored our results over the past months, the board of directors has beenchallenged to make some difficult decisions. Clearly, programs and servicesneeded to be analyzed and cost controls implemented. Because we have a clearvision to be the premier medical imaging management organization by provid-ing our members with first class education, networking, and professional devel-opment opportunities we were able to establish an efficient process to rank ourprograms and services against that benchmark. The board concluded that mostof what we do does have critical relevance to our mission.

As we then evaluated each program, we made some timing and efficiencyadjustments to improve cash flow. The board was very determined, however, notto make any changes to our key programs such as the annual meeting, insteadagreeing to use reserve funds to maintain the quality programs for which we areknown.

As you read the following pages of this annual report, you will see that, despitethe challenging economic times, we have had a busy, successful year. Thank youto all our member volunteers who spent countless hours working on our behalf.Thank you to all of our members who attended a meeting, purchased a product,or participated in our List Server. Your involvement keeps the AHRA vibrant andsuccessful as“The Association for Medical Imaging Management.”

Penny Olivi, CRA, FAHRA,President

Edward J. Cronin, Jr., CAE,Executive Director


MembershipMembership StatisticsAs of June 15, 2009, AHRA’s membership stood at 3,887.This is a 8.7% net decrease over the July 1, 2008 total of4,254.

The overwhelming majority (98.3%) of members—3,818—reside in the United States and its territories. Thestates with the highest number of AHRA members:California (288), Texas (223), Florida (220), New York (194),Ohio (171), Illinois (163), Pennsylvania (159), and Virginia(131).

The remaining 66 members are located in Argentina (1),Australia (10), Bermuda (4), Canada (45), Finland (1), India(1), Lebanon (1), Saudi Arabia (1), Singapore (1), andUnited Arab Emirates (1).

DuesAs of June 15, 2009, 1,100 individuals have signed up fortwo-year memberships.

As of June 15, 2009, 36 organizations participate in theorganization billing option.

OR70

OR70

HI11 OR

70

PR5

VI1

AS1

WA115

OR59

CA288

ID26

NV21 UT

22

AZ83

MT11

WY15

CO92

NM32

ND14

SD11

NE33

KS34

OK34

TX223

MN86

IA47

MO65

AR22

LA45

MS29

AL43

FL220

TN102

KY81

WI128 MI

102

IL163

IN108

OH171

GA122

SC59

NC112

VA131

WV25

PA159

NY194

ME24

VT9

NH35

MA102

CT56

RI9

NJ128

DC11

DE19

MD72

AK9

AHRA Members: U.S. States and Territories


OnlineIn 2009, AHRA will launch a redesign of its Web site to more accurately reflect the

organization’s focus on its professional members.

www.ahraonline.org/onlineinstitute

Launched in late 2008, the Online Institute is a new education resource for medical imaging professionals atall experience levels. It contains dozens of courses on topics as diverse as human resources, budgeting, andtechnology. Courses are updated on a regular basis and are approved for ARRT Category A CE credit.

Quick CreditRadiology Management articles and accompanying tests are available FREE to members. In the time periodJuly 1, 2008 – June 30, 2009, a total of 4,693 Quick Credit exams were taken either online or by mail/fax.

WebinarsAn archive of previously conducted live AHRA webinars. In the time period January 1, 2009 – June 15, 2009,a total of 281 webinars were viewed.

Conference SessionsStreaming video of speakers from previously held AHRA conferences. In the time period January 1, 2009 –June 15, 2009, a total of 212 conference sessions were viewed.

AHRA: The Association for Medical Imaging Management

Onl i n eI n s t i t u t e


Conferences


Annual Meeting andExpositionAHRA’s premier event was heldJuly 8-12, 2008 in Denver,Colorado with 1,045 medicalimaging leaders in attendance.Educational sessions includedthe Basic Management SkillsProgram, which was attendedby 70 registrants. The Advanced

Program had 973 registrants, and the CRA ExamWorkshop had 96 registrants. All meeting attendeeswere able to network with their peers, participate insocial events, and meet with more than 200exhibitors. The 2009 meeting will be held August 9-13 in Las Vegas, Nevada.

2008 Fall ConferenceThe 2008 Fall Conference, “Medical Imaging:Reaching Higher,” was held September 30 - October2, 2008 in Albuquerque, New Mexico. A total of 170individuals attended the event. The AdvancedProgram had 124 registrants, the Basic ManagementSkills Program had 38 registrants, and the CRA ExamWorkshop had 35 registrants.

2009 Spring Conference“Succeeding in Challenging Times” was the theme ofthe 2009 Spring Conference. A total of 134 individu-als attended the event. The Advanced Program had86 registrants, the Basic Management Skills Programhad 44 registrants, and the CRA Exam Workshop had25 registrants.

Executive ProgramHeld March 11-12, 2009 at the GE HealthcareInstitute in Waukesha, Wisconsin, “LeadershipDevelopment and Operational Excellence” was anintense two-day course designed for individuals with10 or more years in a senior medical imaging manage-ment position. Twenty three medical imaging lead-ers participated in the program.

2009 Coding and Reimbursement SeminarSeriesFour coding and reimbursement seminars were heldin early 2009. To maximize participation, they wereheld in four different geographic areas: San Jose,Nashville, Chicago, and Boston. A total of 98 individ-uals attended these seminars.

Live WebinarsFrom July 1, 2008 through June 30, 2009, AHRApresented 10 live webinars. There were 319 individu-als or facilities registered for these events.

Publications

Radiology Management

The bi-monthly peer-reviewed journal is rated the most valuable AHRAproduct, program, or service among members according to a 2008membership survey. As the premier publication for medical imagingleaders, Radiology Management provides in-depth articles and expertcolumns that provide guidance to professionals in hospital, imagingcenter, and group practice environments.

Link

Link, AHRA’s monthly member newsletter, is moving from print toelectronic only in 2009. This industry trend is a timely communicationtool, allowing AHRA to deliver and update information instantaneous-ly. This format change will also help the association better interactwith members and deliver on needs in a more judicious way byencouraging much more reader interaction with the ability to ratearticles, leave comments, search for articles in the archives, print andemail articles, and navigate easily to other parts of AHRA’s Web site orexternal sites.

As another major benefit, the move to a Web-based format will vastlyimprove our carbon footprint, saving trees, energy, and CO2 emis-sions.



Benchmarking Surveys

Updated in 2009, these surveys represent the most complete, accurate, and up-to-datestaffing and salary information in the imaging industry. They allow users to find out moreabout their work, staffing and productivity measures, and current salaries/hourly wages. Datais broken out by a number of relevant factors, such as by modality, procedure volume, geo-graphic region, and organization type.

Professional DevelopmentBook Series

In 2008, the third book in AHRA’sseries was published: Human ResourceManagement in Radiology. This bookprovides information on the latest,most effective best practices in imag-ing HR management techniques.

Publications

CertificationSince 2002, more than 700 professionals have earned the only credential formedical imaging administration. The Certified Radiology Administrator(CRA) credential was tailored specifically for medical imaging administrators.The examination focuses on five subject areas that are crucial to successfuladministration: human resource management, asset resource management,fiscal management, operations management, and communication andinformation management. The CRA program, including the examination, ismanaged by the Radiology Administration Certification Commission (RACC),a self-governing body created to maintain the credential's integrity and rel-evance.

CRA-RetiredIn late 2008, the RACC established a CRA-Retired status to allow CRAs whohave retired from the field of imaging administration to maintain a connec-tion to the credential. During the program’s first 6 months, 5 individualshave taken advantage of the opportunity to hold CRA-Retired status.

Immediate ScoringIn early 2009, the RACC established immediate scoring for the May andNovember exam windows. Beginning with the May 2009 exam, all comput-er-based CRA exams are designed to give pass/fail results immediately fol-lowing completion of the exam. CRA candidates who choose to take theexam in the computer format will no longer need to wait 4-6 weeks for examresults.

New CRAsFrom July 1, 2008 through June 30, 2009, 33 individuals successfully com-pleted the examination and earned the CRA credential. As of June 30, 2009,there are 637 CRAs.


The mission of the AHRA is to be a resource and catalyst for the developmentof professional leadership in imaging. The AHRA Education Foundation(AHRAEF) is committed to supporting that mission and expanding our pro-grams to reach out to every member.

2008 was a busy year! The AHRAEF continued to work on the FoundationPartnership Initiative (FPI) that began in August 2006 by expanding the num-ber of our corporate partnerships and developing innovative and multi-faceted programs which relate directly to the work we all do in imaging. Thephonathon at the 2008 annual meeting brought new emphasis to the needfor member commitment to the AHRAEF. You will see an exciting expansion ofthis program at the 2009 annual meeting.

Scholarship programs have become even more important in the current chal-lenging economic climate. The Broadley Scholarships enable awardees to pur-sue their education goals. Osborne Scholarships allow members to attend theannual meeting as well as the spring and fall conferences. Our partnershipswith AGFA, Hitachi, and Philips have enabled us to offer 10 scholarships forthe 2009 annual meeting to members who might otherwise not have beenable to attend. We are most grateful for their support. The Partners in Learningprogram continues to flourish, providing members first hand experience andmentoring. Promoting the value of the CRA credential continues to be a highpriority and the total number of CRAs continues to grow.

The AHRA Leadership Institute is presented at the annual meeting and the falland spring conferences. The Curriculum Committee has been working dili-gently over the past year to ensure the speakers and presentations are of thehighest quality. The team has developed a certification process for speakers inboth the basic management track and the CRA Exam Workshop. Since itsinception in July 2006, the basic management track of the LeadershipInstitute has had 467 registrants. This is, no doubt, a testimony to the fact weare fulfilling the need for a structured, new leader program for our members.The program committees for the respective meetings continue to do an out-standing job of selecting topics and speakers for the advanced track. In addi-tion, 23 experienced leaders attended the executive level track at GE inWaukesha, Wisconsin in March 2009.

The AHRA membership has acknowledged that education is the key to ourlegacy. The AHRAEF continues to work on supporting that legacy. All of usworking together, combining our talents, resources, and ideas, ensures thefuture of our organization. Your support is the key to our success! It has beenan honor to serve as the AHRAEF Chair over the past year and I look forwardto the continued growth of our organization.

Message from the AHRAEducation Foundation Chair

Terry A. Dowd, CRA, FAHRAChair

12AHRA 2008-2009 Annual Report

AHRA EducationFoundation

The AHRA Education Foundation is a non-profit foun-dation dedicated to education in the field of imagingmanagement and related disciplines. Since its incep-tion in 1990, it has raised thousands of dollars andcreated multiple programs, projects, products andservices specifically designed to promote ongoingapplied management education for imaging man-agers.

Foundation Partnership InitiativeIn 2006, AHRA announced the launch of theFoundation Partnership Initiative (FPI), a program bywhich funds and in-kind donations are raised to sup-port existing AHRA education programs and createnew ones.

As of July 1, 2008, 10 sponsors—nine corporations andone association—two companies and 58 individualshave pledged more than $3,000,000 to the FPI. A com-plete list of sponsors and donors can be found onpages 13 and 14.

Dues Check Off/GiftsAHRA members may voluntarily contribute to theEducation Foundation by including a donation withtheir membership dues. In addition, individuals maysend gifts at any time.

From July 1, 2008 through June 30, 2009, 105 individ-uals donated $4,373 through dues check offs andother gifts. A complete list of donors is listed on page15.

Broadley ScholarshipThe Broadley Scholarship program was established tohonor Louise Broadley, FAHRA, a long time leader ofAHRA. The program provides assistance to currentAHRA members who hold supervisory positions with-in a medical imaging department or imaging centerand have been accepted into an initial undergradu-ate or initial graduate degree program relevant to a

supervisory career in the medical imaging field.

From July 1, 2008 through June 30, 2009, Broadleyscholarships were presented to two AHRA members.

Osborn ScholarshipThe Osborn Scholarship was created in memory ofRoyce R. Osborn, FAHRA, one of the first radiologictechnologists to make the transition to medicalimaging administrator. The fund recognizes theimportance and commitment to education. OsbornScholarships provide opportunities for AHRA mem-bers to participate in AHRA’s Annual Meeting and theSpring and Fall Conferences. Osborn Scholarshipsoffer the recipient up to $1,500 for the AnnualMeeting and up to $1,200 for the Spring or FallConference in addition to the meeting registrationfee.

For the period of July 1, 2008 through June 30, 2009,three Osborn Scholarships were presented: one forthe 2008 Annual Meeting and one each for the 2008Fall Conference and 2009 Spring Conference.

Partners in LearningThe Partners in Learning program provides medicalimaging professionals resources to spend a few daysat another healthcare facility. This allows them tolearn how other professionals address similar day-to-day operations. At the same time, participants—visi-tors and hosts—offer each other fresh perspectivesby sharing their own experiences and specific areasof expertise.

Sponsored by GE Healthcare, Partners in Learningmatched 20 visitors and hosts for the period of July 1,2008 through June 30, 2009.


Foundation PartnershipInitiative Sponsors

Diamond Circle – $1 Million+

Sapphire Circle – $500,000+

Platinum Circle – $250,000+

Gold Circle – $100,000+ Silver Circle – $50,000+


Foundation PartnershipInitiative Donors

Michael J. Albertina, FAHRAMel L. Allen CRA, FAHRADana AllisonAlphaGraphicsSandra A. Anderson, CRA, FAHRANorlein AshingMary Baker, FAHRARon J. Barak, CRATammy M. BaumanGinny Carpenter, CRAWanda M. Casady, CRA, FAHRADeborah ClarkStephen D. Clevenger, CRA, FAHRAMonte G. Clinton, CRA, FAHRAMichael ColhouerDonald G. ColombanaEdward J. Cronin, Jr.Luann J. Culbreth, CRATerry A. Dowd, CRA, FAHRARoberta M. Edge, CRA, FAHRAMichael R. Favreau, FAHRAMaureen R. Firth

David R. Fox, CRAWinnie Grieshaber, CRAE. James Grosskopf, CRAHazel C. Hacker, FAHRAKevin Hendrickson, CRAAmy Hofmann, CRABarbara J. Lachimia, CRALeanne LinscottDebra A. Lopez, CRA, FAHRAStephan A. Lopez, FAHRAJay P. Mazurowski, CRA, FAHRAElizabeth D. McKnightMed-LabChuck Mitchell, FAHRAJoan R. Oakley, FAHRAPenny M. Olivi, CRA, FAHRAJeffrey A. Palmucci, CRADavid S. Partridge, CRAMarci PaulkNancy Prouty, CRAThomas A. Redman, CRA, FAHRABradley A. Reed

Roland W. Rhynus, CRA, FAHRASheila M. Sferrella, CRABarbara B. SpencerRobert J. SteigerwaldBill StephensKaren L. Stewart, CRACathleen P. Story, CRAJulio C. Tapia, CRAAlicia Vasquez, CRACarlos E. Vasquez, CRAMark A. Viau, CRA, FAHRAMichelle M. Wall, CRASteven D. WaltersMark A. Watts, CRAKathleen Williams, CRAEd Yoder


AHRA EducationFoundation Donors

Teresa E. Amelung, CRAKaren L. AndruscoGustav BarretoTammy M. BaumanBarbara BeckerMichael P. Belick, CRAHarold R. Benson, FAHRAAnish BerryHarold BlairKimberly Booher, CRAThomas BousquetScott BracciJacky R. Bradley, CRAGarnell C. Brunson, Sr., FAHRARuth BumstedHarry ButlerRussell L. Cain, CRASamuel CallisTheodore J. Caveglia, FAHRAKrista Christensen, CRACheryl Cleveland-StewartMargaret CooperEdward L. Cousins, FAHRADavette M. CummingsTrish DawsonPeggy DeFalco, CRAMichael DelVecchioRichard DialStephanie R. DirckxGabriel DreilingLeona DudleyTibor DuliskovichSandra M. EdsonHeather FlanniganRichard FleuryCassandra FuentecillaAletha FulghamShonna D. Galloway, CRARobert E. GarrettFaye GarzaJean Gebhard

Frances GilmanTerri L. GollingerRobert E. GormanLynn L. Graves, CRABruce W. Hammond, CRALynn Howerton Jr.David L. JohnsonKenneth C. JohnsonDale Jung, FAHRAKarla J. Kenefake-Hymans, CRALinda KogovsekMargaret L. LeoneSylvia A. Lesic, CRADoug MahanyCheryl MaizeCheryl L. Martin, CRAThompson MatthewJohn McCollisterPeter C. McCormack, CRAVincent F. McMillan, CRAMerle D. Meland, FAHRAYolanda G. MillerCraig T. MitchellJennifer J. MoranAbraham MorejonPaul MosebachGeorge P. OsmunL. James OswaldJeffrey A. Palmucci, CRABernard F. PeculisAimee J. PhillipsLinda J. Puchalski, CRA, FAHRARobyn D. PulliamMac C. ReedHolly RehbergRoland W. Rhynus, CRA, FAHRAJudith R. RicchiutoPaul Riggieri, CRATony E. RimeMark A. RitaAlberto San Miguel

Mari SandersLouise SaxbyRichard S. SchillingArthur SchnitzerHoward W. Schwartz, FAHRAJanet Seeman, CRATariq ShaikhSharyn M. ShillSteve ShullmanStephen L. Spearing, CRAJohn StanfordTodd G. Stanley, CRAAnneMarie SundquistLance TahmahkeraMichael M. TeglasiEllen T. TourineGeorge TudderCarlos E. VasquezMichael A. WadeLaurie WardropBeth L. Weber, CRAGordon WeimerCharles L. WestphallJulie A. Wolowitz, CRA


Fiscal Year 2008 was a success for AHRA both strategically and operationally.Through sound planning, consistent operations, and careful budgeting andfiscal management, the association maintained its full complement of pro-grams and services. However, the significant decline in the stock market,which began in the second half of 2008, did have a negative impact on theassociation’s long-term investment accounts.

Strategic Plan, Operations, and FinancesThe association’s operations are closely aligned with the strategic planapproved by the AHRA Board of Directors. The board meets to review thisplan throughout the year and, where necessary, make revisions. Each fall,the AHRA executive director and staff use this plan to create an operatingplan for the next fiscal year.

At each November board meeting, the executive director and staff manage-ment team present an operational plan based on AHRA’s strategic goals.This plan includes a budget that allocated the association’s fiscal resourceson programs and other initiatives.

For FY08, AHRA had operating revenue of $3,286,496 and operating expens-es of $3,469,592, for an operating deficit of $183,096, which included a$200,000 pledge payment to the AHRA Education Foundation. In addition,realized and unrealized losses, interest, dividends and capital gain distribu-tions added a loss of $454,567, for a net deficit of $637,663.

Long-Term InvestmentsIt has long been AHRA’s policy to invest any net profit in order to saveenough funds to address a year’s worth of the organization's expenses.AHRA’s investment policy is conservative and designed for the long-term.We recognize that over any given time period our fund may incur losses andthis certainly happened in 2008. At year end, the association's investmentstotalled $1,261,215 – a loss of $475,072. This amount does not meet ouroverall goal, but we believe it will be more than sufficient to continue opera-tions even in a difficult economy

Annual Independent AuditEach year, AHRA undergoes an external audit with an independent auditor.Due to the efforts of the AHRA financial staff, the association consistentlyshows excellent performance. As in previous years, AHRA received anunqualified opinion on its financial reports.

Through responsible fiscal management, the association continues to bestrong in a financial sense. We expect this performance to continue.

Michelle M. Wall, CRAFinance Director

Message from theFinance Director



Annual Meeting42%

Membership17%

Publications /Products

11%

EducationPrograms /Leadership

Institute17%

Investment Income /Other

8%

Certification5%

2008 Revenue

Annual Meeting35%

Membership10%Publications /

Products12%

EducationPrograms /Leadership

Institute11%

Certification6%

Promotion3%

AHRAEF Programs1%

Administration18%

Governance4%

2008 Expenses

AAmmeerriiccaann HHeeaalltthhccaarree RRaaddiioollooggyy AAddmmiinniissttrraattoorrss,, IInncc..Statement of Financial PositionDecember 31, 2008(with comparative totals for 2007)

22000088 2007AASSSSEETTSSCCuurrrreenntt AAsssseettssCash and cash equivalents $$ 449988,,557711 $ 744,394Accounts receivable, net of allowance for doubtful accounts of$11,438 and $10,000 in 2008 and 2007, respectively 4400,,775566 48,346Pledge receivable, current portion 114400,,995544 40,954Prepaid expenses 118899,,445500 197,094Inventory 8877,,446655 71,140Refundable income taxes 1166,,883355 9,487TToottaall ccuurrrreenntt aasssseettss 997744,,003311 1,111,415

PPRROOPPEERRTTYY AANNDD EEQQUUIIPPMMEENNTT,,net of accumulated depreciation 6655,,006600 72,103

OOTTHHEERR AASSSSEETTSSPledge receivable, net of current portion 113355,,886666 135,866Long-term investments 11,,226611,,221155 1,736,287Security deposit 44,,774444 4,744TToottaall aasssseettss $$22,,444400,,991166 $3,060,415

LLIIAABBIILLIITTIIEESS AANNDD NNEETT AASSSSEETTSSCCuurrrreenntt LLiiaabbiilliittiieessAccounts payable and accrued expenses $$ 115555,,222288 $ 183,757Due to affiliate 3355 10,118Grant payable, current portion 9900,,770033 186,384Deferred revenue 669966,,118888 641,436TToottaall ccuurrrreenntt lliiaabbiilliittiieess 994422,,115544 1,021,695

Grant payable, net of current portion 9955,,223388 185,941TToottaall lliiaabbiilliittiieess 11,,003377,,339922 1,207,636

CCOOMMMMIITTMMEENNTTSS AANNDD CCOONNTTIINNGGEENNCCIIEESS (Notes 7, 8 and 9)

NNEETT AASSSSEETTSSUnrestricted 11,,221177,,665533 1,655,316Temporarily restricted net assets 118855,,887711 197,463TToottaall nneett aasssseettss 11,,440033,,552244 1,852,779TToottaall lliiaabbiilliittiieess aanndd nneett aasssseettss $$22,,444400,,991166 $ 3,060,415



the association for medical imaging management

490-B Boston Post Road, Suite 200Sudbury, MA 01776Ph: (978) 443-7591Fx: (978) 443-8046

[email protected]

2008-2009 annual report - ahra · 2016. 11. 1. · july 1, 2008 – june 30, 2009, a total of 4,693...

Documents