Candidate Statements | Secretary/Treasurer-Elect | Ken Kazahaya, MD, MBA
In order to ensure the continued success of the AAO-HNS/F, it is imperative to be fiscally responsible and promote an environment of growth of the Academy’s revenue streams.
Q: What are your priorities for fiscal responsibility in the present economy? What non-dues revenue stream, current or proposed, do you plan to optimize to help improve the financial status of the Academy?
Ken Kazahaya, MD, MBA
In order to ensure the continued success of the AAO-HNS/F, it is imperative to be fiscally responsible and promote an environment of growth of the Academy’s revenue streams. My MBA from the Wharton School uniquely qualifies me for this task. We must develop various sources of reliable revenue to meet the ever-increasing expenses and costs incurred maintaining the Academy and continuing to provide services and value to the membership. In addition to developing balanced annual budgets, adequate cash flows must be maintained to ensure that we can pay our obligations. Growth of both dues and non-dues sources of revenue and assets are necessary to reduce reliance upon investment income and asset reserves. I would collaborate with the Board of Directors, Academy staff, and business units to foster an environment for growth of the Academy’s revenue streams and development of new sources of assets.
During the present economic setting, the Dow has risen above 20,000 points. Some believe the U.S. GDP could exceed three percent annual growth, and the world GDP growth may exceed the 20-year average for the first time in six years. However, investors seem wary as there is still uncertainty surrounding various economic growth drivers and as the political realities in Washington materialize. I believe that it is important to stay well informed during this current volatile time and to maintain a conservative stance, while not being afraid to make calculated moves when appropriate. I would strive to maintain a well-diversified investment policy, work to maximize our investment income while not putting our portfolio at unnecessary risk, and monitor our investment portfolio performance against standardized metrics.
The annual revenue for the Academy is essentially divisible into three main categories: membership dues, meeting revenue, and miscellaneous revenue sources. The latter includes publications, product sales, corporate support, and investment income.
Membership growth and retention are important to the Academy, and I believe that it is important to work along the Academy’s Strategic Plan so that we maintain our focus and have realizable and tangible benefits for our members. Non-dues revenue comprises about two-thirds of the annual budget. Meeting attendance generates about a half of the non-dues revenue. Formulating concepts to continue to expand the benefits for meeting attendees and encourage the involvement of resident and young providers as well as other otolaryngology affiliates would hopefully continue to increase meeting attendance. I would consider soliciting donations for specific projects to encourage resident, first-time attendee, and affiliated persons’ participation at the Annual Meeting. Consequently, increasing meeting attendance should translate into more robust corporate support. Also, providing donor feedback on how donations have helped recipients may help secure continued future philanthropy. A bright star on the horizon is the Reg-entSM registry, which will not only provide significant benefit to our membership, but when realized, should also provide significant revenue streams to our organization.
I would be privileged and honored to serve you and would take the responsibility extremely seriously, setting it as a top priority.