In Full - Re: Best math book for me

[Guest guest]

> There is something about the bureaucratic and litigious feel of the

> whole PTCB culture that, while control of this environment is

> understandable, the end result leaves me wanting.

I agree. I can understand high standards. But, it looks a bit " for profit. " And,

a bit monopolistic when you consider how the state creates PTCB's " market " by

requiring technicians to pay PTCB's prices without putting it out to bid.

When the state tells me I must pay PTCB (and I can't choose from 5-6

certification entities who compete for my dollars), that creates a very strong

potential for corruption. I'm not saying PTCB is corrupt. But, charging high

prices under such socially-created " non-market " conditions looks more like

self-indulgence than stewardship.

I dug into PTCB's non-profit filings. The appearance problems might be worse

than what you noted.

Background

==========

All non-profits are required to file IRS Form 990,[1] documenting in moderate

detail the source of their revenues, and how those revenues are spent.

These forms are public documents which a non-profit is required to provide upon

request. They may also be obtained directly from the IRS,[2] or various online

services[3] who obtain them from the IRS and make them available as " teasers "

for other subscription-based services.

I collected these public documents and posted them to one place for easy

reference.[4]

Details

=======

A number of things look problematic.

- PTCB had about $15 million in revenue each year 2007-2009.

- The director was paid $297k in 1999, up a remarkable 25% from 1997. (Keep in

mind this was during the worst economic downturn since the Gread Depression!).

- During that period of time, the leadership was unchanged. It appears they are

not elected. That can also contribute to corruption due to lack of outside

influence and accountability.

- Enormous sums are written off as " Other expenses. " In 2009, it was $4 million.

No description of who this money went to, nor why.

- Every year, PTCB pays $3 million in what it calls a " Founder distribution. "

PTCB was founded by five pharmacist organizations: APHA, ASHP, Illinois Council

of Pharmacists, Michigan Pharmacists and the National Boards of Pharmacy.

This is significant because it completes the circle of monopoly and potential

for corruption. Pharmacists largely control state boards of pharmacy which

require technicians to pay whatever price PTCB dictates. Those pharmacist

organizations (and especially the organization of " state boards " ) govern PTCB

and receive a " take " of the revenue.

And, all the while, we're supposed to remember this isn't a " for profit "

operation, and it exists for the betterment of the field. (Just convenient how

those with such a concern for the betterment of the field receive part of the

exam fees, thereby causing exams to be more expensive for technicians.).

- Enormous sums held in *speculative* investments. Not merely liquid, short-term

cash bond funds, but highly volatile *equity* funds. In 2009, PTCB held almost

half their revenue ($6 million) in stock/equity investments. That makes the

organization look more like a hedge fund than a 501(6) organization required to

exist to promote the interests of an occupation.

PTCB could have cut the exam fee in half and still had $4 million in cash

savings at the end of the year.

In other words, it looks like the exam fee is set so it can fund very large,

risky investment which has grown substantially every year.

- PTCB pays $50k per year for someone to manage these investments. We don't know

who that money goes to. It's not uncommon for non-profits to pay family members

to provide services.

I'm not saying anything's terribly wrong. Non profits have become cash-cow

enterprises. If that's the case with PTCB, sadly, it would be the status quo for

non profits.

But, techs should be aware of things like this. They're forced to pay the fee.

They shouldn't be afraid to ask questions and express concern for power

structures which may have conflicts of interest. Just that level of interest and

awareness could be enough to keep an organization like PTCB from crossing lines

further than it otherwise would (if techs act like good " sheep " ).

> At another level I have to say I also understand why PTCB has made

> the security attempts they have. The exam is one of the only

> nationally formalized tool(s) used to quantify, and document the

> baseline competency of technicians.

I completely agree. A certification exam should be held to a high standard.

But, that's also a two-way street. The organization who administers the exam

should be aware how its own behavior can undermine its claim to high standards.

Conflicts of interest and selling commercial products with exam-like " secrecy "

could contribute to diminished respect for the certification. It could cause

techs to feel the lines are blurry and there's nothing wrong with a tech looking

out for their own self-interest. I.e., " everyone's doing it. "

I think it's an interesting topic. I see the tech field being like nursing

decades ago. It faces challenges as it emerges as a more professional,

autonomous field (as techs take over more practices which pharmacists

exclusively held, and perhaps move into a role of patient advocate.). This

naturally leads to conflicts as one group expects greater prestige, and another

doesn't want to lose the " perks " which came with its exclusive role.

One perk, obviously, is 5 pharmacist organizations having near-total control

over setting state licensing requirements which require techs to pay what could

be seen as " patronage " to PTCB -- and receiving 20% on the back end.

Techs just need to be aware of these things and not afraid to question the

status quo. The quality of the discussion will never rise to the level it needs

to if techs are ignorant of how others may profit from them.

[1] http://nonprofit.about.com/od/nonprofitbasics/tp/Form-990.htm

[2] http://www.irs.gov/charities/article/0,,id=135033,00.html

[3] http://www.guidestar.org

[4] http://www.mediafire.com/?oguq4yjxxa1el