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Allocation of CPSA’s Building Fund Reserve to reduce physician annual fee in 2022
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October Messenger 2021, Physician Assistants, Physicians |
Posted October 14, 2021
Read time: 1 minute
As shared in June’s Messenger, after seeking feedback from the profession, CPSA Council approved allocating $5 million of a growing $9+million building fund reserve toward future projects, initiatives and research. The remainder ($4.2 million) will go toward CPSA operations, thereby creating a one-time annual fee reduction for all practising Alberta physicians in independent practice in 2022, who normally pay the full annual fee.
Instead of the planned $2,150 fee for 2022, these physicians will pay $1,792 when they renew this fall.
History of the Building Fund
| 2012–2016 | CPSA collects $150 from each physician as part of their annual renewal with the intent to purchase or buy new office space within five years. In total, CPSA collects $6,866,437.50 from physicians. |
| 2018 | With favorable lease rates, Council decides to continue leasing until February 2029. |
| 2019-2020 | Using operational monies (not building fund reserves) CPSA renovates its current office space to meet operational needs and accommodate a growing CPSA team. |
| April 2021 | With the reserve fund no longer required for its original purpose, Council seeks feedback from the profession via a Building Fund Survey, to help them decide on what to do with the original money plus its interest from investments over the last nine years (totaling $9+ million as of April 30, 2021).
Almost 2,000 physicians respond to the survey (a response rate of 17.8 per cent). |
| May 2021 | After much discussion, analysis and consideration of physician feedback, Council decides to spread the fund over two of the proposed options:
By spreading the fund over these two options, Council meets 91 per cent of survey respondents’ requests. |
| September 2021 | Council approves 2022 budget (which includes the one-time reduced physician annual fee for 2022).
Council approves establishment of an ad-hoc committee to oversee the building fund work. |
| December 2021 | Council to have a facilitated discussion to articulate the vision for the use of the $5 million from the building fund reserve to fund programs, initiatives or research. |
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