Audentes Fortuna Juvat (“Fortune Favors the Bold”)

Ann Goetcheus Gehl, MD

When I became President several months ago, it was announced that a major medical society in the northwest region was shuttering. That gave us pause and raised the question: what about PCMS’ future? The Board of Trustees took a hard look at the financial health of PCMS. Part of that process was looking at our resources, including the PCMS building.

A Bit of History

The building was purchased by Membership Benefits Inc. (former for-profit entity at PCMS) in 1990. It was a wise investment decision at the time. Like the changes with employed physicians over the years, the Society, and the needs of its members have changed. Unfortunately, the cost of maintaining the building and deferred maintenance has surpassed our return on investment.

The Process

After market analysis, and following robust and thoughtful discussion, the Board unanimously voted to sell the building. It was clear to leadership that our finite resources should be reinvested in support of our mission and members.

Next Steps

While the balance sheet has not changed, we are developing an investment strategy to ensure the perpetuation of PCMS. Over the next few months, the Trustees will be discussing investment strategy and expanded programs and services for our members. We welcome member input on expanded programs and services.

Our Future

Our society was formed a year before statehood in 1888. One hundred and thirty-three years later, I know for sure that our future is bright. It is a future that grows a strong connected membership, establishes Pierce County as a sought-after residency location, supports patient care, and protects the public health.