Annual Report
2024
The FSMB Foundation made strong progress over the last year, benefiting the medical regulatory community by distributing the largest grants in its history.
In the second year of its new strategic plan, the Foundation continued to focus on improving the long-term effectiveness and viability of the nation’s state medical board system as a means of achieving safer, higher quality health care.
A Look Back at the Foundation’s Record-Breaking Year
Janelle A. Rhyne, MD, MACP
“In this annual report, the Foundation offers highlights of the progress we are making as we seek to fulfill the needs of the nation’s state medical boards.”
We live in a time of massive domestic and international developments, ranging from climate change to the rapid rise of Artificial Intelligence (AI), that are reshaping the way we in the medical regulatory community approach our work. As the environment shifts around us, medical regulators are more in need of new tools and resources to adapt than ever before. Over the past year, the FSMB Foundation has addressed this need in new and exciting ways inspired by our recently updated strategic plan. In this annual report, we offer highlights of the progress we are making in fulfilling the needs of state medical boards.
Grant Funding
“The FSMB Foundation grant is allowing us to reach out to the public and our licensees in new and relevant ways. This is something we could not do as effectively without the Foundation’s generous support.”
— Timothy Terranova
Executive Director, Maine Board of Licensure In Medicine
From educating licensees and the public via video to digitizing records and upgrading technology systems, our grant recipients are using new tools and innovations to help state medical boards meet the challenges of tomorrow.
Foundation’s 2024 Grant Funding Puts Emphasis on Using Technology to Improve Medical Regulation
Professional Boundaries Video Tackles Serious Public Health Issue
Violation of professional boundaries in health care is one of the most serious issues medical regulators respond to as they fulfill their mandate of protecting the public. The extent of boundary violations, such as sexual misconduct, in the United States is difficult to determine, partly because of a lack of knowledge about the issue and barriers that may inhibit reporting by both patients and health providers.
In response, the Foundation is nearing completion of an educational video that will provide information how to maintain professional boundaries. To learn more, visit our Grants page.
Strategic Plan Continues to Provide Roadmap for Foundation’s Long Range Initiatives
In its updated strategic plan, launched in 2023, the Foundation is envisioned as a catalyst for innovative ideas, encouraging research and education initiatives that translate into best practices and more effectiveness for state medical boards.
A Strong Financial Position Paved the Way for Larger Grants in 2024
With a re-envisioned long-term financial strategy and robust capital investment, the FSMB Foundation’s endowment has grown steadily in recent years. As a result, the Foundation has been able to gradually increase the size of the various grants it distributes.
In 2024, this trend took a notable leap forward, with historically high grants made available to a range of recipient organizations. A strong fundraising event added to our bottom line.
Board of Directors
The FSMB Foundation’s Board of Directors reflects a cross section of the FSMB and its member Boards. George Abraham, MD, Chair-elect of the FSMB, joined the Board as its newest member in 2024.
