2011 Annual Report - AASLD

american association for 

the study of liver diseases 

2011 annual report 

www.aasld.org

Vision: 

To Prevent and Cure Liver Disease 

Mission: 

To advance the science and practice of 

hepatology, liver transplantation and 

hepatobiliary surgery, thereby promoting 

liver health and optimal care of patients 

with liver and biliary tract diseases.

american association for 

the study of liver diseases 

2011 annual report 

PROMOTE: Career Development and Professional Growth 

Johnny C. Hong, MD, FACS ......................................................2 

Dustin Latimer, MS, PA-C ........................................................4 

Research and Career Dev elopment Awards .......................................6 

AASLD Abstract Awards ........................................................10 

2011 Distinguished Award Recipients ............................................12 

EDUCATE/TRAIN: Healthcare Professionals and Scientists Committed to Hepatology 

The Liver Meeting ® ............................................................ 14 

CME .........................................................................16 

American Board of Internal Medicine (ABIM) .....................................16 

LiverLearning ................................................................. 17 

Special Interest Groups ........................................................ 17 

Single Topic Conferences ....................................................... 17 

Journals .....................................................................18 

Clinical Practice Guidelines .....................................................18 

Collaboration .................................................................19 

contents 

EFFECT: Change in Public Policy 

Public Policy ..................................................................20 

SUPPORT: The Vision to Prevent and Cure Liver Diseases 

Financials ....................................................................22 

AASLD Donors/Supporters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 

GOVERNANCE 

Governing Board ..............................................................27 

2012 Initiatives ................................................................28 

Code of Conduct/Industry Guidelines ...........................................29 

Policy on Acceptance and Disclosure of External Funds ............................30 

Code for the Assessment and Management of Conflict of Interest ..................31 

Past Presidents ...............................................................33 

AASLD Staff ..................................................................33 

aasld 2011 annual report 1

Johnny C. Hong, MD, FACS 

2009 AASLD Career Development Award in Liver Transplantation 

In Memory of the University of Michigan Transplant Team 

Young inves 

award Recipients 

“…a career in liver 

transplantation takes 

you on a never-ending 

journey in the quest 

for answers. The more 

you read, the more you 

realize how little you 

know about the field, 

stimulating you to 

find possible solutions 

through research.” 

2 american association for the study of liver diseases

tigators 

thelifeblood 

are 

of the field. 

Dr. Johnny C. Hong was drawn to 

liver transplantation because 

of the challenges it presented; 

involving multiple disciplines such 

as surgery, hepatology, immunology, 

and pharmacology just to name a few. 

“…a career in liver transplantation takes 

you on a never-ending journey in the quest 

for answers. The more you read, the more 

you realize how little you know about 

the field, stimulating you to find possible 

solutions through research,” states Hong. 

As the recipient of the 2009 Career 

Development Award, Dr. Hong was able 

to devote more time to his research on 

organ resuscitation. His research focused 

on the development of a new treatment 

strategy in organ resuscitation to mitigate 

the adverse effects of ischemia and 

reperfusion injury. The findings from this 

research have clinical applicability and 

have potential to improve outcomes after 

liver transplantation. The goal is to convert 

marginal organs, otherwise discarded, 

to transplantable livers in the hopes of 

decreasing the number of patient deaths 

while on the waitlist. 

Dr. Hong believes that AASLD has been in 

the forefront in funding liver research and 

advancing the field. “Young investigators 

are the lifeblood of the field and research 

grants would allow the transformation of 

great ideas to discoveries that will improve 

the treatment of liver diseases,” he says. 

While the field of transplantation has made 

significant progress over the past 50 years, 

there remain numerous areas for research 

to further improve outcomes after liver 

transplantation. Hong says, “AASLD will 

continue to play a central role in the future 

of the field.” 

Dr. Hong is currently 

Assistant Professor 

of Surgery and 

Director, Multi-Organ 

Transplantation 

& Hepatobiliary 

Surgery Fellowship 

Program, 

Director, Living 

Donor Liver 


Program, 

Director, Liver 


Service Division of 

Liver and Pancreas 


Department of 

Surgery at the David 

Geffen School of 

Medicine, UCLA 



Dustin Latimer, MS, PA-C 

2010 NP/PA Clinical Hepatology Fellowship 

The NP/PA Fellow 

served as a 


“The medical 

world outside 

of hepatology is 

finally beginning 

to understand the 

immense need 

for competent 

hepatology 

clinicians.” 

4 

american association for the study of liver diseases

catalyst 

ship 

for my career. 

Dustin Latimer became interested 

in a career in hepatology through 

working for the Massachusetts 

State Hepatitis C Hotline as a case worker 

for at-risk patient populations; once he 

completed his Physician Assistant training, 

hepatology was a natural fit. 

The AASLD NP/PA Clinical Hepatology 

Fellowship provided both a structured 

learning program but also the autonomy 

for Latimer to build his own practice. 

He was mentored by Dr. David Sass 

and Dr. Kenneth Rothstein as well as 

the multidisciplinary transplant team at 

Hahnemann University Hospital. 

The AASLD fellowship allowed Latimer to 

expand his training and identify a need 

in the hepatology community. He feels 

the AASLD awards program opens a very 

competitive door for new investigators to 

get their start in the field – and is grateful 

to the support for his fellowship. “As a 

former award recipient, I have a first-hand 

understanding of the many individual 

benefits that result from AASLD member 

support,” he says. 

Latimer feels that the demand for more 

adequately trained hepatology clinicians 

will fall to the primary care clinicians; 

both primary care physicians and midlevel 

providers will have a significant 

role in accommodating the diverse and 

growing patient population; and AASLD 

will continue to serve as the primary 

resource for the most innovative research 

and treatments available. “The medical 

world outside of hepatology is finally 

beginning to understand the immense 

need for competent hepatology clinicians,” 

he states. 

Latimer is 

currently on staff 

at the Mazzoni 

Center for 

Community and 

Family Health in 

Philadelphia, PA. 

He also is serving 

on the AASLD 

Hepatology 

Associates 

Committee and 

is co-chair of 

the Hepatology 

Associates Course 

for The Liver 

Meeting ® 2012. 



Research and Career Dev 


AASLD is dedicated to funding research and the next generation of hepatologists – 

and our awards and fellowships are the most direct way to foster career 

development. In 2011, AASLD was able to fund $1.9 million in awards and 

fellowships due to the continued generosity of our supporters. 100% of donations 

to the New Challenges–New Solutions campaign and The AASLD Liver Research 

Fund are used to fund the designated research award and fellowship programs. 

AASLD supports the administrative costs related to these awards. 

AASLD/ALF Liver Scholar Awards 

A three-year basic science award of 

$225,000 ($75,000/year) that: 

• Encourages young investigators to pursue a 

career in liver-related research; 

• Bridges the gap between completion of 

research training and attaining status as an 

independent research scientist; 

• Enhances the capability to compete for 

research grants from national sources, 

particularly the National Institutes of 

Health (NIH) 

2011 Recipients 

Donghun Shin, PhD 

University of Pittsburgh 

Pittsburgh, Pennsylvania 

Mentor: Satdarshan P. Singh Monga, MD 

Pranavkumar Shivakumar, PhD 

Cincinnati Children’s Hospital Medical Center, 

Cincinnati, Ohio 

Mentor: Jorge A. Bezerra, MD 

Research Presented: 

• Oral (PI): Complement receptor C5aR regulates 

hepatic inflammatory response, epithelial injury 

and duct obstruction in biliary atresia 

• Oral (co-author): A Molecular Signature 

of Biliary Atresia Highly Distinct from Other 

Cholestatic Diseases at Diagnosis 

• Oral (co-author): Peribiliary glands connect 

to form three-dimensional epithelial networks 

within the wall of extrahepatic bile ducts and 

proliferate in response to injury. 

• Poster (co-author): Screening and 

Identification of Potential microRNAs Involved in 

Bile Duct Injury in Experimental Biliary Atresia 

Jessica Wen, MD 

The Children’s Hospital of Philadelphia, 

Philadelphia, Pennsylvania 

Mentor: Rebecca Wells, MD 

AASLD acknowledges funding for the 2011 AASLD 

Liver Scholar Awards is made possible through 

independent grants from Genentech, Merck, 

sanofi‐aventis, and donors to the New Challenges– 

New Solutions Campaign and The AASLD Liver 

Research Fund. 

AASLD Sheila Sherlock Clinical 

and Translational Research 

Award in Liver Diseases 

A two-year clinical research and/or translational 

research award of $150,000 ($75,000/year) that 

fosters career development in a liver-related area 

and is presented to an individual that has shown 

commitment to excellence at an early stage in their 

research study. 

This award is named in honor of Dame Sheila 

Sherlock for her pioneering research and 

dedication to young research fellows which helped 

elevate hepatology to the discipline it is today. 

6 


elopment Awards 

2011 Recipient 

Elizabeth Verna, MD, MSc 

Columbia University 

New York, New York 

Mentor: Robert S. Brown, Jr., MD 


• Poster (PI): Fibrosing Cholestatic Hepatitis 

C Following Liver Transplantation: A New 

Outcome-Based Histological Definition, Clinical 

Predictors and Prognosis 

• Poster (co-author): Hepatocellular Carcinoma 

Tumor Staging At The Time of Liver Transplant 

But Not At Diagnosis Are Predictive of Tumor 

Recurrence In Patients Who Are Downstaged 

With Chemoembolization 

• Poster (co-author): Recurrence after Liver 

Transplantation for HCC-A new MORAL to 

the Story 

AASLD acknowledges funding for the 2011 Sheila 

Sherlock Clinical & Translational Research Award is 

made possible through an independent grant from 

Genentech and donors to the New Challenges– 



AASLD Clinical and Translational 

Research Award in Liver Diseases 

A two-year clinical research and/or translational 

research award of $150,000 ($75,000/year) that 

fosters career development in a liver-related area 

and is presented to an individual that has shown 

commitment to excellence at an early stage in their 

research study. 


Kathleen Corey, MD, MPH 

Massachusetts General Hospital, 

Boston, Massachusetts 

Mentor: Raymond T. Chung, MD 

AASLD acknowledges funding for the 2011 AASLD 

Clinical & Translational Research Award is made 

possible through an independent grant from Merck 

and donors to the New Challenges–New Solutions 

Campaign and The AASLD Liver Research Fund. 

2011 Young Investigator Travel Award recipients 

AASLD/LIFER Clinical and 

Translational Research Fellowship 

in Liver Diseases Award 

A one-year $75,000 award designed to foster 

career development for an individual outside 

North America to perform clinical research within 

the United States in a liver-related area and who 

has shown commitment to excellence at an 

early stage of their research study. The award is 

intended to provide a mechanism that enables 

young investigators to develop independent and 

productive liver disease research careers. 


Paul Clark, MBBS 

Duke University Medical Center 

Durham, North Carolina 

Mentor: Andrew Muir, MD 


• Oral (PI): PNPLA3 genotype rather than race 

may explain the lower prevalence of hepatic 

steatosis despite worse metabolic risk factors 

in African American patients with chronic 

hepatitis C (CHC) 

• Oral (co-author): The Cost-Effectiveness 

of a Telaprevir-Inclusive Regimen as Initial 

Therapy for Genotype 1 Hepatitis C Infection in 

Individuals with the CC IL-28B Polymorphism. 




• Oral (co-author): IL28B C/C genotype is 

predictive of ≥ 1 log10 IU/mL reduction in 

plasma HCV RNA after 4 weeks of peginterferon 

(pegIFN) and ribavirin (RBV) therapy: 

implications for the use of the lead-in strategy 

for direct-acting antiviral-based treatment 

regimens. 

• Poster (PI): Metabolomic Analysis 

Demonstrates Hepatitis C Virus Genotypes 

G2/3 Selectively Perturb Distal Steps in 

Cholesterol Biosynthesis 

• Poster (co-author): Predictors of consent to 

pharmacogenomics testing in the IDEAL study 

• Poster (co-author): NK inhibitory receptor 

expression associated with treatment failure 

and IL-28B genotype in patients with chronic 

hepatitis C 

• Poster (co-author): Predicting 

Peginterferon-α and Ribavirin treatment 

response in genotype 1 HCV patients – 

simple nomograms to support clinicians 

• Poster(co-author): Vitamin D and Treatment 

Response in African American Patients with 

HCV Genotype 1 

AASLD gratefully acknowledges support for the 

AASLD/LIFER Award from the Liver Institute and 

Foundation for Education and Research (LIFER). 

AASLD is also providing support for this program 

from its own operating funds. 

AASLD Career Development 

Award in Liver Transplantation 

In Memory of the University of 

Michigan Transplant Team 

A two-year award of $90,000 ($45,000/year) 

designed to foster career development for an 

individual performing clinical and/or translational 

research in the field of liver transplantation and who 

has shown commitment to excellence in the field at 

an early stage in their career. 


Christopher Sonnenday, MD, MHS 

The University of Michigan, 

Ann Arbor, Michigan 

Mentor: Robert Merion, MD 

AASLD acknowledges funding for the 2011 Career 

Development Award is made possible through an 

independent grant from Astellas USA Foundation 

and donors to the New Challenges–New Solutions 

Campaign and The AASLD Liver Research Fund. 

AASLD Advanced/Transplant 

Hepatology Fellowship 

Provides $60,000 in salary and benefit support for 

gastroenterology fellows pursuing an additional 

full-year of training focused on patient care in 

hepatology; including liver transplantation, and 

hepatology research. 


Ranjeeta Bahirwani, MD, BA 

Hospital of the University of Pennsylvania 


Mentor: K. Rajender Reddy, MD 


• Poster (PI): Chronic Kidney Disease (CKD) 

after Liver Transplantation in HIV positive/ 

HCV positive versus HIV positive/HCV negative 

Recipients: Results from the NIH Multi- 

Site Study 

2011 AASLD Advanced/Transplant Hepatology Fellowship recipients 

Devina Bhasin, MD 

Mount Sinai School of Medicine 


Mentor: Scott Friedman, MD 

8 


Jennifer Lai, MD, MBA 

University of California, San Francisco 

San Francisco, California 

Mentor: Norah Terrault, MD 


• Oral (PI): Liver Offers on the Liver Transplant 

(LT) Wait-List (WL) 

• Poster (PI): Vertebral Fracture (vFx) Prevention 

with Post-Transplant Bisphosphonates (BSP) 

in Liver Transplant (LT) Recipients: A Cost- 

Effectiveness Analysis 

Mina Rakoski, MD, MSc 

The University of Michigan 

Ann Arbor, Michigan 

Mentor: Anna Suk-Fong Lok, MD 

Ashwani Singal, MBBS 

The Mayo Clinic in Rochester 

Rochester, Minnesota 

Mentor: Vijay Shah, MD & Patrick Kamath, MD 


• Poster (PI): Oral antiviral agents reduce the 

risk of hepatocellular carcinoma in patients 

with chronic hepatitis B: Systematic review and 

meta‐analysis 

AASLD acknowledges funding for the 2011 

Advanced/Transplant Hepatology Fellowship 

Program is made possible through independent 

grants from Astellas USA Foundation, Gilead 

Sciences, Merck, and donors to the New Challenges– 



2011 AASLD NP/PA Clinical Hepatology Fellowship recipients 


Chadi Awad, MSN, ACNP 

Virginia Commonwealth University 

Richmond, Virginia 

Mentor: Richard Sterling, MD 

Donald Gardenier, DNP, MS, BSN 

Mount Sinai School of Medicine 


Mentor: Scott Friedman, MD 

Christin Giordano, PA-C 

University of Miami 

Miami, Florida 

Mentor: Cynthia Levy, MD 

Melanie Samardzija, PhD, MSN 

University of Chicago Medical Center 

Chicago, Illinois 

Mentor: Donald Jensen, MD 


AASLD NP/PA Clinical 

Hepatology Fellowship 

Provides $78,000 in salary and benefit support for 

certified and licensed physician assistants (PA) 

or nurse practitioners (NP) pursuing a full year of 

training focused on clinical care in hepatology and 

is designed to: 

• increase the number of associate practitioners 

in clinical hepatology; 

• facilitate the transition (or shift in emphasis) 

into clinical hepatology for associate 

practitioners; 

• increase access for liver disease patients to 

adequately trained clinicians. 

Lorie Sinese, PA-C 

Hospital of the University of Pennsylvania 


Mentor: K. Rajender Reddy, MD 

Nicole Terry, MN 

Georgetown University Hospital 

Washington, District of Columbia 

Mentor: Kirti Shetty, MD 

AASLD acknowledges funding for the 2011 

NP/PA Clinical Hepatology Fellowship Program 

is made possible through independent grants 

from Genentech, Salix Pharmaceuticals, Vertex 

Pharmaceuticals, and donors to the New Challenges– 




AASLD Abstract Awards 


Blue Faery Young Investigator 

Liver Cancer Research Award 

The goal of this $750 award is to encourage HCC 

research and is presented to a young investigator 

presenting the most promising HCC research at 

The Liver Meeting ® . 

Daiki Miki, MD, PhD 

Center for Genomic Medicine, 

RIKEN, Hiroshima University 

Hiroshima, Japan 

AASLD acknowledges funding for the Blue Faery 

Young Investigator Liver Cancer Research Award 

from Blue Faery: The Adrienne Wilson Liver 

Cancer Association. 

Fellow Research Award 

A $1,000 award presented for the best abstract 

submitted to The Liver Meeting ® by a fellow. 

S. Tamir Rashid, MRCP 

University of Cambridge, 

Wellcome Trust Sanger Institute 

Cambridge, United Kingdom 

AASLD acknowledges funding for the 2011 Fellow 

Research Award is made possible through a grant 

from the SunTrust Foundation. 

Liver Transplant and Hepatobiliary 

Surgery Fellow Awards 

These $500 travel awards enable liver transplant 

and/or hepatobiliary surgery fellows submitting 

abstracts for The Liver Meeting ® to receive 

travel support. 

Sonal Asthana, MD, MS, MRCS 

University of Alberta Hospital 

Edmonton, Canada 

Midlevel Professional Award 

These $500 awards are presented for the best 

abstracts submitted to The Liver Meeting ® by 

an associate. 

Jillian Price, MS 

Inova Health System, Inova Fairfax Hospital 

Falls Church, Virginia 

Hwalih Han, BSN 

NIDDK, National Institutes of Health 

Bethesda, Maryland 

Pediatric Research Award 

A $1,000 award presented for the best abstract 

submitted to The Liver Meeting ® by a physician/ 

scientist with a primary appointment affiliation in a 

department of pediatrics. 

Kazuhiko Bessho, MD, PhD 

Cincinnati Children’s Hospital Medical Center 

Cincinnati, Ohio 

AASLD acknowledges funding for the 2011 Pediatric 

Research Award is made possible through a grant 

from the SunTrust Foundation. 

PSC Partners Seeking a Cure Award 

A $3,000 award presented to the investigator 

presenting the most promising PSC research at 


Brian Juran, BS 

The Mayo Clinic in Rochester 

Rochester, Minnesota 

AASLD acknowledges funding for the 2011 PSC 

Partners Seeking a Cure Award from PSC Partners 

Seeking a Cure. 

Karim Halazun, MD 

Columbia University Medical Center 


10 


Resident Research Award 

The purpose of this $1,000 award is to recognize high 

quality research undertaken by a resident in training. 

The recipient must be a primary contributor on the 

project and committed to a career in liver disease. 

Leila Kia, MD 

Northwestern University 

Feinberg School of Medicine 

Chicago, Illinois 

Student Research Award 

A $1,000 award presented for research conducted 

by a graduate or undergraduate student. 

Anna Baghdasaryan, MD 

Medical University of Graz 

Graz, Austria 

Jessica Liu, MPH 

National Taiwan University, 

Academia Sinica Genomics 

Taipei, Taiwan 

Panjamaporn Sangwung, PhD 

Yale University 

New Haven, Connecticut 

Johannes Schmitt, PhD 

University Hospital Zurich 

Zurich, Switzerland 

Paul Thomes, PhD 

VA Nebraska-Western Iowa Health Care System 

Omaha, Nebraska 

AASLD acknowledges funding for the 2011 Young 

Investigator Travel Awards is made possible through an 

independent grant from Merck. 


AASLD acknowledges partial funding for the 2011 

Student Research Award is made possible through a 

grant from the SunTrust Foundation. AASLD is also 

providing support for this award. 

AASLD Young Investigator 

Travel Award 

These $500 travel awards are presented to young 

investigators submitting the best abstracts for 


Timea Csak, MD 

University of Massachusetts Medical School 

Worcester, Massachusetts 

Kiyohashi Kei, MD 

Tokyo Medical and Dental University 

Tokyo, Japan 

Alexis Gorden, MD 

University of Maryland School of Medicine 

Baltimore, Maryland 

Qisheng Li, MD, PhD 

NIDDK, National Institutes of Health 


MEMORIAL TRAVEL AWARD 

Dr. Edmund J. Bini HCV 

Memorial Travel Award 

This $2,500 memorial travel award was established 

to honor Dr. Edmund Bini’s outstanding career as a 

clinician and researcher. The award is presented to 

a fellow or junior investigator who submits the most 

outstanding abstract on clinical hepatitis C research 

for The Liver Meeting ® . 

Alexander J. V. Thompson, MD, PhD 

St. Vincent’s Hospital, Melbourne, 

Duke University Medical Center 

Fitzroy, Australia 

Funding for this award is made possible through 

donations to The AASLD Liver Research Fund in 

support of the Dr. Edmund J. Bini Travel Award. 


2011 Distinguished Award Recipients 

AASLD Distinguished Service Award 

The AASLD Distinguished Service Award is given to an individual in honor of his or her sustained service to AASLD 

or the liver disease community in general. The award recognizes service provided to the community of hepatology researchers 

and clinicians over an extended period; service that is well above and beyond that provided by many members who serve on the 

Governing Board and Committees of AASLD. The awardee need not be a member of AASLD. 

Distinguished 


Anna Suk-Fong Lok, MD 

University of Michigan Medical Center, Ann Arbor, Michigan 

Dr. Anna Suk-Fong Lok and her fellows 

Dr. Anna Suk-Fong Lok graduated 

from the Medical School at the 

University of Hong Kong. After 

completing internal medicine and GI 

training in Hong Kong, she pursued 

a hepatology fellowship in London 

under the late Professor Dame Sheila 

Sherlock. She is currently a Professor 

of Internal Medicine and Director of Clinical Hepatology at 

the University of Michigan. 

Dr. Lok served on the AASLD Governing Board from 2001 

to 2003 as Councilor-at-large and as Associate Editor of 

Hepatology in 2001–2006. She has served on numerous 

AASLD committees such as Clinical Research, Annual 

Meeting Education, and Public Policy in addition to 

participation as an abstract reviewer. 

Dr. Lok has published numerous papers on viral 

hepatitis, authored more than 20 book chapters, and 

co-authored the AASLD Guidelines on Hepatitis B. She 

has consistently been invited to speak and moderate at 

The Liver Meeting ® for courses such as the Postgraduate 

Course, State‐of-the-Art lectures, and Clinical Research 

and Career Development Workshops, in addition to 

AASLD Single Topic Conferences. 

Dr. Lok’s mentored AASLD Advanced/Transplant 

Hepatology fellows in 2000, 2001, and 2003, and an 

NP/PA Clinical Hepatology fellow in 2006. She cites 

her greatest pride and joy as helping patients with liver 

diseases to get better, and mentoring her ‘children’ 

— fellows and faculty — to become independently 

successful investigators. 

12 


AASLD Distinguished Achievement Award 

The AASLD Distinguished Achievement Award 

is given to an individual in honor of his or her sustained 

scientific contributions to the field of liver disease and the 

scientific foundations of hepatology. The award honors a 

sustained contribution rather than a single discovery or major 

achievement. The awardee need not be a member of AASLD and 

may be a non-scientist but the contribution should be solidly in 

the area of liver disease, physiology, anatomy or pathology. 

Distinguished Clinician 

Educator/Mentor Award 

The AASLD Distinguished Clinician Educator/ 

Mentor Award is given in honor of the sustained service 

of clinician educators to AASLD or the liver community 

in general. The award recognizes the skills of outstanding 

clinicians and educators who have made momentous 

contributions to hepatology over an extended period. The 

awardee need not be a member of AASLD. 

Harvey J. Alter, MD 

NIH, Department of Transfusion Medicine, 


Dr. Harvey Alter has spent most of 

his research career at the National 

Institutes of Health. He is currently 

designated Distinguished NIH 

Investigator and serves as Chief of 

Clinical Studies and Associate Director 

for Research in the Department 

of Transfusion Medicine. He has 

devoted the majority of his research career to the study of 

blood‐transmitted infections, particularly viral hepatitis. 

Drs. Jake Liang, Harvey Alter 

and Leonard Seeff 

Dr. Alter was co-discoverer 

of the ‘Australia’ antigen 

that later proved to be the 

hepatitis B virus. He was 

also principal investigator in 

studies that identified non-A, 

non-B hepatitis, defined its 

chronic sequela and later 

showed its link to HCV. He 

led the prospective studies 

of transfusion-associated 

hepatitis, which was 

instrumental in providing the 

scientific basis for instituting 

blood donor screening programs that have decreased the 

incidence of transfusion-transmitted hepatitis to near zero. 

In recognition of his research accomplishments, Dr. Alter 

was awarded the Landsteiner Prize (the highest award 

of the American Association of Blood Banks), the Inserm 

Medal from France, and the Clinical Lasker Award. He has 

been elected to both the National Academy of Sciences 

and the Institute of Medicine. He is also a Master of the 

American College of Physicians. 

Ding-Shinn Chen, MD 

National Taiwan University Hospital 

Taipei, Taiwan 

Dr. Ding-Shinn Chen, Distinguished Chair 

Professor of Medicine at the National 

Taiwan University College of Medicine, has 

devoted his life to teaching and performing 

research at National Taiwan University 

Hospital since 1975. He has trained over 

90 gastroenterologists and hepatologists, 

many of whom now hold key positions in 

major teaching hospitals in Taiwan. He also worked to create 

a public health program in Taiwan that, for the past 23 years, 

has vaccinated most newborns there against hepatitis B. 

In training his fellows, Dr. Chen encourages them to explore 

clinical issues both at the bedside and in the laboratory. 

He regards translational medicine as bidirectional, not 

limited to one-way from bench to bedside. Dr. Chen strongly 

encourages his fellows to publish and further believes that 

any research work is not complete unless the results are 

published. Many of his students have become successful 

physician scientists. 

Dr. Chen has published more than 600 original articles in 

scientific journals, and frequently serves as the reviewer of 

major international journals in gastroenterology/hepatology 

and hepatitis research. He was the Associate Editor of 

Hepatology from 2001 to 2006. 

Distinguished 


Dr. Ding-Shinn Chen with his trainees 


Educate/Train 

The Liver Meeting ® 2011 

The premier event in the science and practice of hepatology; where the cutting 

edge in the study and treatment of liver and biliary diseases is defined. The Liver 

Meeting ® is designed specifically to educate hepatology professionals on the 

dynamic changes in their field and to connect leading scientists around the world. 

Educate / Train 

The Liver Meeting ® 2011 had its greatest 

presence in history with a total of 8,764 

attendees representing an increase of 663 

registrants over 2010 (Boston) and 1,063 

in 2008 (San Francisco). The exhibit hall, 

staffed by more than 1,100 exhibit personnel 

and 85 companies, displayed products 

and services related to hepatology. The 

attendance, evaluations and comments reflect 

a meeting that is maintaining its credibility 

within the hepatology community. 

In 2012, the meeting returns to Boston and 

in 2013 moves to Washington, DC for the 

first time. 

Postgraduate Course 

The AASLD Postgraduate Course highlights a 

significant issue of liver research facing physicians 

today; there were more than 3,100 registrants in 2011. 

• Topic: Cirrhosis: Current Challenges 

and Future Direction 

• Course Directors: Guadalupe Garcia-Tsao, MD 

and Patrick S. Kamath, MD 

Cirrhosis is the end stage of chronic liver disease 

and places the patient at risk of death. Therefore, it is 

essential that practitioners involved in the management 

of patients with chronic liver disease understand 

the mechanisms of development of cirrhosis and 

its complications, and recognize preventative and 

therapeutic maneuvers that keep the patient alive with 

an adequate quality of life for the longest possible time. 

Remarkable scientific advances in the field of cirrhosis 

and its complications have resulted in major advances 

in clinical care of patients with cirrhosis. Increasingly, 

rational therapies are being developed based on the 

understandings of mechanisms of liver disease. This 

Postgraduate Course linked these mechanisms to 

emerging and rational therapies. 

14 


Scientific and Educational 

Activities at The Liver Meeting ® 

As the leading organization focused solely on 

advancing the science and practice of hepatology, 

AASLD offers scientific educational activities that 

are developed by leading hepatologists. Each activity 

features expert speakers presenting the finest data 

in the most current and critical topics of liver disease 

such as the HCV Symposium, offered for the first 

time at The Liver Meeting ® . 

More than 2,950 abstracts were submitted; a 5% 

increase over 2010. 77% were accepted for oral and 

poster presentation with 201 receiving recognition 

as a Poster of Distinction. Forty scientific sessions 

were conducted to present the most up-to-date 

research available in the field. These sessions were 

complemented by more than 40 interactive poster 

sessions. Only AASLD activities meet the increasing 

demand of hepatology’s growing importance 

as a medical specialty by providing participants 

the opportunity to exchange research, discuss 

outcomes, and interact with colleagues focused on 

liver and biliary diseases. 

Invited Lectures at The Liver Meeting ® 

The offering of groundbreaking discoveries 

by top scientists in their specific areas of 

hepatobiliary research continued to be a priority. 

The lectures featured: 

• HCV Symposium – NEW in 2011 

(LiverLearning) 

This program was designed to educate the 

provider on newly approved and anticipated 

therapies for HCV and their integration into 

clinical practice. As these agents represent new 

classes of drugs in this field, they present new 

challenges for treatment monitoring, side effect 

management, drug resistance emergence, and 

personalizing therapy. This program laid a basic 

mechanistic foundation upon which to build 

clinical management guidelines. Important 

emerging issues on public policy and methods 

of implementation were also discussed. 

• Global Forum (LiverLearning) 

The Global Forum focused on the world-wide 

public health perspectives of liver diseases. This 

program aimed to develop an in-depth discussion 

on the distinct geographic flavors of various liver 

diseases as they affect the five major regions of 

the world: North America, Europe, Asia, South 

America and Africa. The speakers represented 

each region and discussed public health issues 

relevant to one specific liver disease that is of 

a major public health burden in that particular 

region. The speakers focused on epidemiology, 

medical-societal factors, preventive programs, 

and public policies to address these important 

public health problems. 

• Hans Popper Basic Science 

State-of-the-Art Lecture 

In his lecture titled Heart Attacks and Other Liver 

Diseases, Nobel Laureate Michael S. Brown, MD, 

presented a half-century of work documenting the 

essential role of the liver in regulating plasma lipid 

concentrations. 

This annual lecture recognizes Dr. Popper, one of 

the founders of the American Association for the 

Study of Liver Diseases (AASLD), for his role in the 

establishment of Hepatology and his promotion of 

the intellectual spirit of the Association. 



The Liver Meeting ® 2011 (continued) 


• Leon Schiff State-of-the-Art Lecture 

Studies on Multidrug Resistance in Cancer Reveal 

New Insights into Liver Physiology delivered by 

Michael Gottesman, MD, presented data on the 

molecular basis of multidrug resistance in cancer, 

including hepatomas. 

This annual lecture recognizes Dr. Schiff’s work 

to elevate the study and practice of hepatology to 

the discipline it is today. A restricted fund has been 

established to support the lecture in perpetuity and 

AASLD gratefully acknowledges the National Genetics 

Institute for their generous support of this program. 

• Thomas E. Starzl Transplant Surgery 

State-of-the-Art Lecture (LiverLearning) 

Presented by Allan D. Kirk, MD, PhD, Tolerance and 

Memory outlined the changes in protective and 

allo-immunity with particular attention focused 

on immune memory and discussed how these 

concepts are relevant to the management of 

transplant recipients. 

This annual lecture recognizes the pioneering 

work that Dr. Starzl has done to elevate liver 

transplantation from an experimental procedure 

to one that saves thousands of lives annually. A 

restricted fund has been established to support 

the lecture in perpetuity and AASLD gratefully 

acknowledges the donors to this fund. 

• Hyman J. Zimmerman Hepatotoxicity 

State-of-the-Art Lecture 

Kathleen M. Giacomini, PhD delivered a lecture titled 

Genetic Variants in Hepatic Transporters: Role in 

Drug Response and Toxicity to provide an overview 

of hepatic drug transporters that play a role in drug 

response and toxicity. 

The annual presentation of this lecture continues 

to recognize Dr. Zimmerman’s contributions to the 

field by providing valuable insights on liver toxicity 

and injury. A restricted fund has been established 

to support the lecture in perpetuity and AASLD 

gratefully acknowledges Eli Lilly and Company for 

their generous support of this program. 

• President’s Choice (LiverLearning) 

During the President’s Choice lecture Towards 

Immunological Equity: A Global Vision, Jaime 

Sepulveda, MD, described the important progress in 

Hepatitis B vaccination and other vaccines provided 

by GAVI Alliance in poor countries and emphasized 

the importance of advocating for reaching global 

vaccine equity. Dr. Sepulveda has pioneered work 

on vaccines, global public health policy, delivery 

and education in the developing countries—most 

recently with his role in the landmark report on 

“Health Professionals for a New Century”. 

CME 

The American Association for the Study of Liver 

Diseases (AASLD) has been resurveyed by the 

Accreditation Council for Continuing Medical 

Education (ACCME) and awarded accreditation 

for four years as a provider of continuing medical 

education for physicians. 

American Board of 

Internal Medicine (ABIM) 

Maintenance of Certification (MOC) 

AASLD collaborated with ABIM in 2011 to update 

the hepatology medical knowledge module. 

Internists and subspecialists, certified in or after 

1990, renew their certificates through ABIM’s 

Maintenance of Certification (MOC) program. 

Medical knowledge modules are components 

of MOC that provide evidence of a commitment 

to lifelong learning and involvement in periodic 

self‐assessment to guide continuing learning. This 

module became available for use by diplomates in 

early January 2012. 

16 


LiverLearning 

In an effort to provide its membership and meeting 

attendees an expanded experience, AASLD in 2002 

began to capture content from The Liver Meeting ® to be 

displayed online. Over the last several years content has 

gone beyond The Liver Meeting ® and now includes the 

capture of standalone meetings, summary slide sets, and 

other online educational material. 

AASLD enriched its online educational presence and has 

developed and launched a website to deliver future and 

existing content. LiverLearning has become “The Official 

e-Learning Portal of AASLD”. This portal brings together 

all online educational materials in a streamlined and 

searchable format, configured to allow the user to access 

every type of content AASLD has to offer. 


Special Interest Groups (SIGs) 

Special Interest Groups were formed in November 2007. Since 

their inception, individual groups have developed and progressed 

on separate agendas. There are currently 2,258 SIG members 

that participate in the following groups: 

• Acute on Chronic 

Liver Failure 

Chair: Patrick S. Kamath, MD 

• Cholestatic Liver 

Disorders 

Chair: Richard M. Green, MD 

• Hepatitis B 

Chair: Robert P. Perrillo, MD 

• Hepatitis C 

Chair: Gary L. Davis, MD 

• Hepatobiliary Neoplasia 

Chair: Morris Sherman, MD, PhD 

• Hepatotoxicity 

Chair: Paul B. Watkins, MD 

• Liver Fibrosis 

Chair: Rebecca Wells, MD 

• Liver Transplantation 

and Surgery 

Chair: Sandy Feng, MD, PhD 

• Pediatric Liver 

Chair: Benjamin L. Shneider, MD 

• Portal Hypertension 

Chair: Michael B. Fallon, MD 

• Steatosis and 

Steatohepatitis 

Chair: Hari S. Conjeevaram, MD 

Single Topic 

Conferences 

In 2011, three Single Topic Conferences 

(STC) were conducted. 

1. Clinical STC: Pediatric Liver 


2. Basic STC: Stem Cells in Liver 

Diseases and Cancer: Discovery 

and Promise 

3. Hepatitis STC: Chronic Viral 

Hepatitis: Strategies to Improve 

Effectiveness of Screening and 

Treatment 

All three STCs had expected or better 

than expected attendance. Attendee 

evalutions suggest the meetings 

provide good value and that AASLD 

should continue and possibly expand 

its STC offerings. More than 92% of 

attendees felt the conferences were 

free of commerical bias and 88% built 

research collaborations and gained 

new research ideas. 



Journals 

Hepatology 

The premier publication in the 

field of liver disease, Hepatology 

publishes original, peer-reviewed 

articles concerning all aspects 

of liver structure, function, 

and disease. Each month, the 

distinguished Editorial Board 

monitors and selects only the 

best articles on subjects such as 

immunology, chronic hepatitis, viral 

hepatitis, cirrhosis, genetic and 

metabolic liver diseases and their 

complications, liver cancer, and 

drug metabolism. 

2011 Editor: Keith D. Lindor, MD 

Liver Transplantation 

Since the first application of liver 

transplantation in a clinical situation 

was reported more than twenty 

years ago, there has been a great 

deal of growth in this field and 

more is anticipated. As an official 

publication off AASLD and ILTS, 

Liver Transplantation delivers 

current, peer-reviewed articles 

on surgical techniques, clinical 

investigations and drug research – 

the information necessary to keep 

abreast of this evolving specialty. 

2011 Editors: John R. Lake, MD; 

John Paul Roberts, MD 

Clinical Practice Guidelines 

AASLD develops clinical practice 

guidelines supported by a high 

level of scientific evidence to assist 

practitioner and patient decisions 

about appropriate health care for 

specific clinical circumstances. 

Position papers are published on 

the state-of-the-art of current 

practice based on descriptive 

reports and expert opinions where 

published information is insufficient 

to make strongly evidence-based 

recommendations. 

AASLD has published fifteen 

practice guidelines and two position 

papers which are updated regularly 

and published in the society’s 

journals every five years. 

Download new and updated 

AASLD Practice Guidelines from 

LiverLearning and the AASLD 

website www.aasld.org. 

Published 

• Diagnosis and Management 

of Hemochromatosis 

(July 2011) 

• Update on Treatment 

of Genotype 1 Chronic 

Hepatitis C Virus Infection 

Endorsed by the Infectious Diseases 

Society of America, the American 

College of Gastroenterology (ACG), 

and the National Viral Hepatitis 

Roundtable (Oct. 2011) 

Updated Position 

Paper On Website 

• Management of Acute 

Liver Failure: Update 2011 

(Nov. 2011) 

In Development 

• Evaluation of the 

Adult Patient for Liver 


In collaboration with the American 

Society of Transplantation (AST) 

• Hepatic Encephalopathy 

In collaboration with the European 

Association for the Study of the Liver 

• Long Term Medical 

Management of the 

Adult Patient following 


In collaboration with the AST 

• Long Term Medical 

Management of the 

Pediatric Patient following 


In collaboration with the AST and the 

North American Society for Pediatric 

Gastroenterology, Hepatology 

and Nutrition 

• Diagnosis and Management 

of Non-alcoholic Fatty 

Liver Disease 

In collaboration with the ACG and 

the American Gastroenterological 

Association 

18 


Collaboration 

AASLD’s Strategic Plan devotes a goal to collaboration with other U.S. and international professional organizations 

to achieve mutual goals. This goal directs AASLD to expand its impact on education, research, training and therapy of 

liver disease by collaborating with related societies and organizations. AASLD actively seeks cooperative ventures with 

appropriate national, regional and international organizations in order to pursue projects of mutual interest. These 

interactions are meant to be mutually beneficial and increase our ability to fulfill our vision and mission of treating and 

curing liver disease. 2011 collaborative efforts included: 

Alpha-1 Foundation 

• Research Grants 

American Board of Internal 

Medicine (ABIM) 

• Competency-based 

Curriculum 

• Transplant Hepatology 

Certification 

• Liaison Committee on 

Recertification 

• Hepatology Knowledge Module 

American Society of Clinical 

Oncology (ASCO) 

• GI Cancers Symposium, 

content advisor 

American Society 

of Gastrointestinal 

Endoscopy (ASGE) 

• The Liver Meeting ® 

• Digestive Disease Week ® 

American Subspecialty 

Professors (ASP) 

• 18th International Symposium 

on Hepatitis C Virus and 

Related Viruses 

• International Society for 

Hepatic Sinusoidal Research 

(ISHSR) World Congress on 

Insulin Resistance 

International Liver 

Transplantation Society (ILTS) 


• Liver Transplantation Journal 


American College of 

Gastroenterology (ACG) 

• Practice Guidelines 

• Training Directors Workshop 

American College of 

Physicians (ACP) 

• Subspecialty Advisory Group 

on Socioeconomic Affairs 

• Council of Subspecialty 

Societies 

American Gastroenterological 

Association (AGA) 


• Academic Skills Workshop 

• Training Directors Workshop 

American Liver Foundation (ALF) 

• Support for Liver Scholar 

Research Awards 

• Combined awards selection 

committee 

American Medical Association 

• Physicians Consortium for 

Practice Improvement (PCPI) 

Centers for Disease 

Control (CDC) 

• Hepatitis Single Topic 

Conference on Chronic Viral 

Hepatitis Strategies to Improve 

Effectiveness of Screening 

and Treatment 

• AASLD/CDC Corner on Global 

Perspectives on Viral Hepatitis 

Centers for Medicare & 

Medicaid Services (CMS) 

Food and Drug 

Administration (FDA) 

• Hepatotoxicity Meeting 

Drug‐Induced Liver Injury: 

Are We Ready to Look? 

International Liver 

Disease Associations 

• European Association for the 

Study of the Liver 

• Asian-Pacific Association for 

the Study of the Liver 

• 4th Congress of The 

Gastroenterology Association 

of Bosnia and Herzegovina 

National Institutes 

of Health (NIH) 

• NIDDK 

• NIAAA and NIDA (Scientific 

Management Review Board) 

• NCI 

• AASLD/NIAID NIH Corner on 

Viral Hepatitis: Past Present 

and Future 

North American Society for 

Pediatric Gastroenterology, 

Hepatology and Nutrition 

(NASPGHAN) 



Society for Surgery of the 

Alimentary Tract (SSAT) 


United Network for 

Organ Sharing (UNOS) 


EFFECT 

2011 proved to be another year of growth and activity for AASLD with regard 

to public policy. As the involvement of the government has grown with regard 

to medical practice and research, so too has AASLD’s involvement with the 

government. As you will read below, whether it is on Capitol Hill, in the various 

government agencies of interest and now even in the White House, AASLD has 

been a significant and growing participant in the functioning of government. 

Effect 

There is little question that health care remains 

a key issue for the American people. And, the 

impact of liver disease on the health of Americans 

has never been greater. Fortunately, the quality of 

treatments has been improving every day. AASLD’s 

mission in this area is to be sure that public policy 

keeps pace with scientific advancements and 

understanding. 

The items highlighted below are just some of 

those on which we have worked and have had a 

significant impact. 

World Hepatitis Day 

July 28 was World Hepatitis Day and, for the first 

time ever, the date was marked by an event at the 

White House. Leaders from throughout the country 

gathered to hear from national leaders in the field 

of hepatitis research and treatment, including 

AASLD President, Dr. Jake Liang, who addressed 

the several hundred persons in attendance, as well 

as the untold thousands more that were viewing the 

event through a live streaming link-up. 

The event followed on the heels of the issuance of 

the Viral Hepatitis Action Plan by the Department of 

Health and Human Services (HHS) — an HHS-wide 

blueprint for comprehensive action by the federal 

government, state public health departments and 

the healthcare community. This report built on the 

report done by AASLD and the Trust for America’s 

Health in 2010 laying out steps that need to be 

taken to address this public health crisis. 

Liver Capitol Hill Day 

AASLD sponsored its Third Annual Liver Capitol 

Hill Day (LCHD) on April 6, 2011, bringing together 

AASLD member-physicians, some of their patients, 

and representatives of six patient advocacy 

organizations in a day of meetings with Senate and 

House members and staff, advocating for increased 

research funding and better patient care. 

That activity will be continued and expanded 

on March 14, 2012, as AASLD members and our 

partners from advocacy organizations return to 

Capitol Hill for the Fourth Annual LCHD. AASLD 

is committed to keeping liver disease on the 

radar as Congress faces tough budget decisions. 

A significant part of this mission to be to explain 

the long-term cost avoidance associated with 

diagnosing and treating all liver diseases — 

including viral hepatitis — early. And that depends 

on research. 

20 


Federal Agency Day 

For the last several years, AASLD has been working 

to expand its involvement with government 

agencies. 2011 marked a turning point in that 

effort as more than a dozen members came to 

Washington to conduct meetings throughout the 

DC area. One team of AASLD members went to 

NIH and met with the leadership of five different 

institutes. The other team met with officials from 

the Office of the Assistant Secretary for Health; 

the Veterans Administration; the Agency for 

Healthcare Research and Quality (AHRQ); and the 

Health Resources and Services Administration 

(HRSA). In 2012, we hope to expand this effort to 

involve additional agencies, government-sponsored 

enterprises, and more. 

Patient Care 

AASLD has worked hard over the last few years 

to see an increase in the budget of the CDC 

Division of Viral Hepatitis. The President’s 2012 

budget included an increase of $5,222,000 

over the current funding and set that budget at 

$25,000,000. Ultimately, the Congress elected 

to keep the appropriated funding the same – but 

then allocated $10,000,000 from the Prevention 

and Public Fund to supplement that funding, 

resulting in an increase of about 50 percent. This 

is an extraordinary achievement in these tight 

fiscal times. 

We have also worked closely with some of 

the leading officials at the Food and Drug 

Administration to assure that otherwise safe drugs 

are taken appropriately to reduce the incidence 

of liver toxicity among Americans from accidental 

overdoses. AASLD has been urging the FDA to 

take action to improve acetaminophen safety for 

years. Important first steps in protecting patients 

were announced in January 2011. Although not 

covering everything we have sought, we will 

continue to seek reasonable actions from the FDA 

to reduce the unacceptable levels of accidental 

overdose in this country. 

Research 

As always, advocating for increased funding 

for research is one of the main activities of 

AASLD during Liver Capitol Hill Day, as well as 

throughout the year. Funding for NIH, the Veterans 

Administration and Agency for Healthcare Research 

and Quality research is crucially important to 

AASLD members. 

There are many goals associated with AASLD’s 

public policy mission. We continue to pursue 

numerous activities in a reasonable and measured 

way based on scientific evidence, and working 

individually and within coalitions to help achieve 

AASLD’s mission to prevent and cure liver disease. 

Effect 


Financials 

as of December 31, 2010 

Actual Revenue 2010 

Annual Meeting ................................... $6,308,468 

Awards & Grants ................................... $1,121,875 

Meetings & Education................................ $554,874 

Professional Relations. ............................... $74,828 

Publications...................................... $2,305,938 

Rental Income ...................................... $258,379 

Fundraising Campaign/Liver Research Fund............. $149,897 

Membership....................................... $1,091,299 

Actual Expenses 2010 

Annual Meeting ................................... $2,620,292 

Awards & Grants ................................... $1,718,689 

Communications.................................... $638,571 

Meetings & Education............................... $1,218,631 

Professional Relations. .............................. $329,239 

Publications....................................... $1,274,534 

Leadership, IT & F&A............................... $1,402,299 

Fundraising Campaign/Liver Research Fund ............. $214,915 

Membership........................................ $716,630 

Financials 

1% 

2% 

19% 

10% 

9% 

53% 

2% 

14% 

13% 

7% 

12% 

6% 

26% 

17% 

1% 

5% 

3% 

ASSETS 

CURRENT ASSETS 2010 2009 

Cash and cash equivalents $ 7,156,282 $ 9,656,228 

Investments – Reserve and Endowments 18,800,596 15,570,724 

Investments – Liver Research Fund 4,431,288 — 

Contributions receivable, current portion 1,112,075 1,043,950 

Accounts receivable 750,610 281,201 

Prepaid expenses 67,769 93,473 

Total current assets 32,318,620 26,645,576 

FIXED ASSETS 

Office condominium 8,076,573 8,076,573 

Furniture and equipment 380,042 469,332 

8,456,615 8,545,905 

Less: Accumulated depreciation 

and amortization (1,107,816) (931,466) 

Net fixed assets 7,348,799 7,614,439 

OTHER ASSETS 

Contributions receivable, 

net of current portion 1,197,015 2,221,130 

Deferred financing cost, net of 

accumulated amortization of $(20,897) 121,037 125,769 

Deferred compensation 212,509 147,202 

Deposits 104,580 58,585 

Total other assets 1,635,141 2,552,686 

TOTAL ASSETS $41,302,560 $36,812,701 

LIABILITIES AND NET ASSETS 

CURRENT LIABILITIES 2010 2009 

Current portion of notes payable $ 215,575 $212,975 

Current portion of bonds payable 100,000 100,000 

Accounts payable and accrued expenses 591,916 1,047,417 

Deferred revenue: 

Membership 751,805 241,371 

Meeting registrations and exhibits 1,470 145,658 

Grants and awards payable 991,907 595,660 

Total current liabilities 2,652,673 2,343,081 

LONG-TERM LIABILITIES 

Notes payable, net of current portion 3,750,552 3,966,127 

Bonds payable, net of current portion 3,500,000 3,600,000 

Interest rate swap obligation 1,441,641 1,269,871 

Deferred compensation liability 212,509 147,202 

Total long-term liabilities 8,904,702 8,983,200 

Total liabilities 11,557,375 11,326,281 

NET ASSETS 

Unrestricted 

Undesignated 18,492,510 14,514,801 

Board-designated 2,554,150 2,479,150 

Total unrestricted 21,046,660 16,993,951 

Temporarily restricted 4,636,675 4,430,619 

Permanently restricted 4,061,850 4,061,850 

Total net assets 29,745,185 25,486,420 

TOTAL LIABILITIES AND NET ASSETS $41,302,560 $ 36,812,701 

22 


2010 2009 

TEMPORARILY PERMANENTLY 

UNRESTRICTED RESTRICTED RESTRICTED TOTAL TOTAL 

REVENUE 

Annual Meeting $ 5,986,968 $ 321,500 $ — $6,308,468 $5,794,593 

Fellowship Grants 78,000 418,875 — 496,875 418,400 

Meetings and Education 487,874 67,000 — 554,874 1,221,929 

Membership Dues 1,091,299 — — 1,091,299 1,026,938 

Professional Relations 59,828 15,000 — 74,828 108,751 

Publications, Hepatology and 

Liver Transplantation Journals 2,305,938 — — 2,305,938 2,155,762 

Research Awards — 625,000 — 625,000 250,000 

Rental Income 258,379 — — 258,379 286,302 

In-Kind Contribution 1,000 — — 1,000 — 

Fundraising Campaign/Liver Research 148,897 — — 148,897 3,817,412 

Net Assets Released from Donor Restrictions 2,037,505 (2,037,505) — — — 

Total revenue 12,455,688 (590,130) — 11,865,558 15,080,087 

Financials 

EXPENSES 

Program Services: 

Annual Meeting 2,656,877 — — 2,656,877 2,664,289 

Professional Relations 329,538 — — 329,538 384,901 

Publication Journal 1,274,533 — — 1,274,533 1,358,269 

Communications 627,380 — — 627,380 399,850 

Fellowship Awards 519,543 — — 519,543 439,793 

Meetings and Education 1,192,939 — — 1,192,939 1,694,993 

Research Awards 1,199,146 — — 1,199,146 570,542 

Total program services 7,799,956 — — 7,799,956 7,512,637 

Supporting Services: 

Governance, Executive and Administration 1,402,302 — — 1,402,302 1,487,865 

Membership Development and Website 716,632 — — 716,632 636,011 

Fundraising 214,916 — — 214,916 591,012 

Total supporting services 2,333,850 — — 2,333,850 2,714,888 

Total expenses 10,133,806 — — 10,133,806 10,227,525 

Change in net assets before other items 2,321,882 (590,130) — 1,731,752 4,852,562 

OTHER ITEMS 

Investment income 1,902,597 796,186 — 2,698,783 3,530,099 

Unrealized gain (loss) on interest rate swap obligation (171,770) — — (171,770) 1,080,142 

Change in net assets 4,052,709 206,056 — 4,258,765 9,462,803 

Net assets at beginning of year 16,993,951 4,430,619 4,061,850 25,486,420 16,023,617 

NET ASSETS AT END OF YEAR $21,046,660 $4,636,675 $4,061,850 $29,745,185 $25,486,420 


Support 

The AASLD Liver Research Fund 

Support 

INDIVIDUAL DONORS 

Jeffrey H. Albrecht, MD 

Joseph Alcorn, MD 

Miriam Alter, PhD, MPH 

Shirish A.Amin, MD 

Joel Andres, MD 

Anonymous (4) 

Mohammed S Anwer, PhD 

Victor Araya, MD 

Shahid Aziz, DO 

Jasmohan Bajaj, MD 

Rafael Baneres, MD, PhD 

Christopher Barry, MD 

Gordon Baskin, MD, PhD 

Michael D. Bernstein, MD 

William E. Berquist, MD 

Mahesh Bhalme, MRCP 

Dennis Black, MD 

Herbert L. Bonkovsky, MD 

Thomas Boyer, MD 

Evelio F. Bravo-Fernandez, MD 

Carol Brosgart, MD 

Edward Cable, PhD 

Damaris C. Carriero, MS 

Kyong-Mi Chang, MD 

Wendy Cheng, MD 

Steve S. Choi, MD 

Chuhan Chung, MD 

Janna C. Collins, MD 

Luis Colombato, MD 

James M. Crawford, MD, PhD 

Albert J. Czaja, MD 

Roberto de Carvalho-Filho, 

MD, PhD 

Rene Davila, MD 

Janna W. den 

Ouden‐Muller, MD 

David F. Dies, MD 

Son T. Do, MD 

John Donovan, MD 

Sandra Erickson, PhD 

Ohad Etzion 

Emmanuel Farber, MD, PhD 

Kimberly Farrell 

Jordan Feld, MD 

Michael R. Fogel, MD 

Barbara Frank, MD 

Denis J. Frank, MD 

Nicholas Freyre 

Michael Fried, MD 

Lawrence Friedman, MD 

Scott Friedman, MD 

Donald Gardenier, DNP 

Lawrence Golub, DDS 

Linda Greenbaum, MD 

James D. Gorham, MD 

Grace Guzman, MD 

Erick Hernandez, MD 

Elizabeth Hespenheide, 

RN, ACNP 

Joseph Hoffman 

Alan F. Hofmann, MD 

Maarouf Hoteit, MD 

Stacey Huppert, PhD 

William R. Hutson, MD 

Hirotsune Igimi, PhD, FACS 

Hiromi Ishibashi, MD, PhD 

Donald Jensen, MD 

Ravi Jhaveri, MD 

Thomas Johnson, MD 

Don P. Jones, MD 

Patrick Kamath, MD 

Andrew Keaveny, MD 

Nanda Kerkar 

Kantar Health, Inc. 

Tsunehisa Kawasaki, MD, PhD 

Kendo Kiyosawa, MD 

Samuel Kocoshis, MD 

Masaaki Korenaga, MD 

Kevin Korenblat, MD 

Ayman Koteish, MD 

Edward Krawitt, MD 

Paul Yien Kwo, MD 

Charles L. Lansford, MD 

Jose A. Lavergne, MD, FACP 

Robert Leventhal, MD 

Steven P. Lawrence, MD 

Jay H. Lefkowitch, MD 

Robert Levine, MD 

Andy Li 

Zhiping Li, MD 

Stephen Livingston, MD 

Steven Lobritto, MD 

Anna Lok, MD 

Michael Lucey, MD 

Alec Yen Nien Lui, MD 

Kip Lyche, MD 

Di Ma 

Omar Massoud, MD 

Carolyn McIvor, MBBS 

Brian J. McMahon, MD 

Rajeev Mehta, MD 

Nahum Mendez-Sanchez, 

MD, PhD 

Kenichiro Mikami, MD 

Mile High United Way 

Lopa Mishra, MD 

Mack C. Mitchell Jr., MD 

Masashi Mizokami, MD, PhD 

Cynthia Moylan, MD 

Uma K. Murthy, MD 

Takahide Nakazawa, MD, PhD 

Francesco Negro, MD 

Amanda Newman 

Cara Nina Newton 

Minhhuyen Nguyen, MD 

Anders Nyberg, MD, PhD 

Lisa Marie Nyberg, MD, MPH 

Robert K. Ockner, MD 

Pavel Petrovich Ogurtsov, 

MD, PhD 

Jeremiah V. Ojeaburu, MD 

Marco A. Olivera-Martinez, MD 

Murad Ookhtens, PhD 

George Ostapowicz, MD, FRACP 

J. Donald Ostrow, MD 

Melissa Palmer, MD 

Efstathios Papavassiliou,MD 

Stephen Chris Pappas, MD 

Raymundo Parana, MD, PhD 

Antonio R. Perez-Atayde, MD 

Damian Pestana 

Mary Petrelli, MB 

Thu Thuy Pham Thi, MD 

David Pound, MD 

Daniel Pratt, MD 

Gopal Ramaraju, MD 

Kadiyala V. Ravindra, MD 

Alexandra Read, MD 

Nancy Reau, MD 

David Reich, MD, FACS 

Donald J. Ritt, MD 

Don Rockey, MD 

Miguel Rodriguez 

Pamela Romanque, MD, PhD 

Rene Romero, MD 

Leonard Rosoff, Jr., MD 

Hideki Sakai, MD 

Yutaka Sasaki, MD, PhD 

Romil Saxena, MD 

Andrew Scanga, MD 

Ann Scheimann, MD 

Michael L. Schilsky, MD 

Richard Schreiber, MD 

Kathleen Schwarz, MD 

Victor F. Scott, MD 

Curtis Scribner 

Leonard Seeff, MD 

Thomas E. Sepe, MD 

Obaid Shakil Shaikh, MD 

David A. Shapiro, MD 

Alan Sheinbaum, MD 

Dennis Shen, MD 

Heather N. Simpson, MD 

Jagadeesh Siram, MD 

Alastair Smith, MD, ChB, FRCP 

Coleman Smith, MD 

Lesley Smith, MD 

Ronald Sokol, MD 

James Spellman 

James Spivey, MD 

Clifford Steer, MD 

Lawrence B. Stein, MD 

Donna Stoltz, PhD 

Doris B. Strader, MD 

Shigeo Sugano, MD 

Yasukiyo Sumino, MD, PhD 

Martin A. Swerdlow, MD 

Yasuhiro Takikawa, MD 

Jayant Talwalkar, MD, MPH 

De Tan, MD 

Anthony S. Tavill, MD 

Brent A. Tetri, MD 

David Thomas, MD 

Isaac Raymond Thomason, MD 

Esther A. Torres, MD 

Javier Vaquero, MD, PhD 

Rajiv R. Varma, MD 

Marc Verhagen, MD 

Wolfgang Vogel, MD 

Francis R. Weiner, MD 

Stavra Xanthakos, MD 

Xiao-Ming Yin, MD 

Kentaro Yoshioka, MD, PhD 

Donald L. Zogg, MD 

In Honor of 

Norman D. Grace, MD 

Allan & Paula Landau 

Elliott Mahler 

In Honor of 


Dennis & Maryann Arena 

Victoria & Larry Bernstein 

Antonio Bustillo 

John Detemple 

24 


Bruce Distler 

Frank & Gloria Didonna 

John Henriksen 

Michael Manginelli 

Michael Martino 

William R McShane 

Harold & Rita Messina 

Axel & Gloria Norden 

Roger Nubel 

Dominick Padurano 

Thomas J Pampinella 

Mark Pesonen 

Ricardo Rebuffi 

Charles & Patricia Ripoll 

Stuart & Tessie Seltzer 

Anita Simon 

Daniel and Mary Spelino 

Jackie Warshaw 

In Support of the 

Dr. Edmund J. Bini Travel Award 

Miriam J Alter, PhD, MPH 

Ayse Aytaman, MD 

Norbert Bräu, MD 

Rose Cipollone, MD 

Naga Chalasani, MD 

Kenneth and Barbara Chanko 

Ramsey Cheung 

Jason Dominitz, MD, MHS 

Elena Nascimbeni Ferran, MD 

Scott Friedman, MD 

Larry Heller 

Samuel B Ho, MD 

Norman B Javitt, MD 

David Kaplan, MD 

Michelle & Michael Kim 

Steven Kritz, MD 

Melanie Maslow, MD 

Timothy Morgan, MD 

Andrew Muir, MD 

New York Society for 

Gastrointestinal Endoscopy 

Kenneth & Sharon Pearlman 

Michael Pillinger 

Robert Raicht 

Alma Sue Richmond 

Riverdale Gastroenterology 

and Liver Disease 

Saray Stancic, MD 

Mark D Schwartz, MD 

Steven Sedlis 

Andrew Talal, MD 

Lynn E Taylor 

Gerald Villanueva 

A Brian West 

Teresa Wright, MD 

Peiying Xiao, MD 

In Support of the 

Dr. Harold O. Conn Travel Award 

Irwin Arias, MD 

Simon Bar Meir, MD 

Gerald A. Belkin, MD 

Irwin Braverman, MD 

Leon & Ann DuPlessis 

Barbara Frank, MD 

Norman Grace, MD 

John Moses 

Don & Judy Ostrow 

Thierry Poynard 

Allan Redeker, MD 

Francis H. Tonkonow, MD 

Marlys Hearst Witte, MD 

In Memory of 

Patrick Anger 

Susan Anger 

In Memory of 

Mary Margaret Bradshaw 

Alabama Division, Federal 

Highway Administration 

In Memory of 

Joseph Cyfko 

Christine Ristow 

In Memory of 

Randolph W. Debnam, Jr. 

Rhoda Cutlip 

Jean M. Debnam 

Diane Grimes 

Doug & Carol Hambright 

Mr. & Mrs. Harold Hambright 

Roger Johnson-Baugh 

Randy Kruger 

Joy and Paul Mele 

Lisa Mohler 

D. Thomas Reel 

Jerry & Cindy Simon 

Bruce Werner 

Quality IT Partners 

In Memory of 

Sheila Gibson 

Robert & Janet Damron 

Eva Blutinger 

Charles and Francine Gibson 

In Memory of 

Robert George Gronemann 

Karl & Jeanne Bohman 

Hammond & Tobler, PC 

Barbara Gronemann 

Corky & Phil Hammond 

Marian Lenz 

Virginia M. McDonald 

Vivian & Susan Trimby 

Joseph & Carol Ward 

In Memory of 

Margit Hamosh, PhD 

Mimi & David Blitzer 

Joann N. Bodurtha, MD, MPH 

Anne Delorenzo 

Barbara DeRienzo 

Joan DiPalma 

Jill Fahrner 

Laura Fenves 

Norma & Steven Fenves 

Matthew Frieman 

Richard & Carol Gillis 

Pamela Frischmeyer-Guerrerio 

Elaine Goldberg 

Anthony Guerrerio 

Edward D. & Muriel E. Korn 

Laboratory of Hal Dietz 

Maggie Leavitt 

D. Scott Lough 

Gustavo Maegawa 

David Melman 

Catherine Moore 

Janet Morrison 

Susan Panny 

George Ragovis 

Sonja Rasmussen 

Jacqueline Sargent 

Nina Scribanu 

Thomas J. Smith, MD 

Marisa Taddei 

Tamar & Christopher Taddei 

Renay D. Tyler 

Hilary Vernon 

Henry Yeager, Jr, MD 

Heller & Ari Zaiman 

In Memory of 

Michael Kurt Henderson 

Judy Henderson 

In Memory of 

Joann Henrikson 

Jude Barnes 

In Memory of 

David Hochman 

Eric Hochman 

In Memory of 

Gerald Hoffman 

James Messick 

In Memory of 

Patricia Hopkins 

Thomas Hopkins 

In Memory of 

Robert Jesulaitis 

Thomas Jesulaitis 

In Memory of 

Sharon Mattern 

Susan & Roger Bergheger 

Virginia Bergheger 

Diane & Barry Betz 

Marjorie & Larry Fowler 

Dixie & John Frye 

Kathleen & Thomas Mattern 

Keith Mattern 

Janis & James Richey 

Elizabeth & Ronald Walls 

In Memory of 

Thomas Mendolia 

Marilyn Mendolia 

In Memory 

of Gigi Shannon 

Anonymous 

Dawn Clark 

In Memory 

of Joan Strunk 

Doug, Paula, & Alison Daily 

Marian Pierson 

CORPORATE DONORS 

Astellas USA Foundation 

Blue Faery: The Adrienne 

Wilson Liver Cancer 

Association 

Dannon Activia 

Genentech 

Gilead Sciences 

GKN Aerospace Monitor 

Foundation 

Gore and Associates 

Merck 

Salix Pharmaceuticals 

Vertex Pharmaceuticals 

Takeda 

Support 

As of December 31, 2011 


New Challenges – New Solutions Campaign 

Support 

INDIVIDUAL DONORS 

Nezam H. Afdhal, MD 

Frank A. Anania, MD 

Anonymous 

Bruce R. Bacon, MD 

Luis A. Balart, MD 

John A. Balint, MD 

Kimberly L. Beavers, MD, MPH 

Paul D. Berk, MD 

The David & Susan Bershad 

Foundation 

Jorge A. Bezerra, MD 

D. Montgomery Bissell 

Dr. Joseph & Anne Bloomer 

Henry C. Bodenheimer, Jr., MD 

Raymond F. Burk, MD 

Sherrie H. Cathcart, CAE 

Naga Chalasani, MD 

David E. Cohen, MD, PhD 

Harold O. Conn, MD 

Dr. Gary & Dail Davis 

Laurie D. DeLeve, MD, PhD 

Anna Mae Diehl, MD 

Dr. Son T. Do 

Harold J. Fallon, MD 

Michael B. Fallon, MD 

J. Gregory Fitz, MD 

E. Lee Forker, MD 

Lawrence S. Friedman, MD 

Scott L. Friedman, MD 

John J. Fung, MD, PhD 

Daniel R. Ganger, MD 

Guadalupe Garcia-Tsao, MD 

Robert G. Gish, MD 

Gary Gitnick, MD 

Dr. John & Roseanne Gollan 

Zachary D. Goodman, MD, PhD 

Dr. & Mrs. Gregory J. Gores 

Christina Greathouse, PhD & 

Kevin Kelley 

Richard M. Green, MD 

Dr. Douglas & Ruthanne Hanto 

Steven K. Herrine, MD 


Ira M. Jacobson, MD 

Donald M. Jensen, MD 

Neil Kaplowitz, MD 

Emmet Keeffe, MD 

W. Ray Kim, MD 

Andrew S. Klein, MD, MBA 

Samuel A. Kocoshis, MD 

Louis Y. Korman, MD 

Edward L. Krawitt, MD 

Douglas R. LaBrecque, MD 

Patricia S. Latham, MD 

Zhiping Li, MD 

T. Jake Liang, MD 

Keith D. Lindor, MD 

Anna Suk-Fong Lok, MD 

Michael R. Lucey, MD 

Karen Luken, MS, ARNP 

Di Ma 

Willis C. Maddrey, MD 

Jacqueline J. Maher, MD 

Hala R. Makhlouf, MD, PhD 

Jorge Marrero, MD 

Dr. Andrew L. Mason 

Deanna Martin, PA-C 

Alvaro F. Martinez-Camacho, MD 

Koichi Matsuzaki, MD, PhD 

Dr. Craig & Marion McClain 

Dr. Arthur & Mary McCullough 

John G. McHutchison, MD 

Brian J. McMahon, MD 

Esteban Mezey, MD 

Alexander Miethke, MD 

Kenichiro Mikami, MD 

Dr. & Mrs. Charles Miller 

Timothy R. Morgan, MD 

Cynthia A. Moylan, MD, MS 

John R. Muha II 

Andrew J. Muir, MD 

John F. Mullane, MD 

Dr. Robert & Elaine Ockner 

Joseph Odin, MD, PhD 

Murad Ookhtens, PhD 


Drs. Victor & Valerie Ostrower 


Robert P. Perrillo, MD 

Drs. Paul & Ann Pockros 

Carol Jean Potter, MD 

Nikolaos Pyrsopoulos, PhD, 

MD, MBA 

Dr. & Mrs. Jorge Rakela 

K. Rajender Reddy, MD 

Donald C. Rockey, MD 

Vinod K. Rustgi, MD 

Arun J. Sanyal, MD 

Steven Schenker, MD 

Eugene R. Schiff, MD 

Kathleen B. Schwarz, MD 

John R. Senior, MD 

Vijay Shah, MD 

Obaid S. Shaikh, MD 

David A. Shapiro, MD 

Margaret C. Shuhart, MD, MS 

Maria H. Sjogren, MD, MPH 

Coleman I. Smith, MD 

Consuelo Soldevila-Pico, MD 

Michael F. Sorrell, MD 

Mario Strazzabosco, MD, PhD 

Grace L. Su, MD 

Frederick J. Suchy, MD 

The Susan V. Bershad 

Charitable Fund 

Gyongyi Szabo, MD, PhD 

Jayant A. Talwalkar, MD, MPH 


Dwain Thiele, MD 

Natalie Torok, MD 

Naoky Tsai, MD 

Hugo E. Vargas, MD 

Rajiv R. Varma, MD 

Drs. John & Donna Vierling 

Laurence Viguie 

Li Wang, PhD 

Rebecca Wells, MD & John 

Tobias 

Teresa L. Wright, MD 

Hal F. Yee, MD, PhD 

IN HONOR OF SHIRLEY BROWN 

Katie & Tyler Brogna 

IN MEMORY OF MICHAEL R. CASEY, SR. 

Kenneth Beaton 

The Casey Family 

Dwyer & Collora, LLP 

Michael & Carolyn Connolly 

Thomas & LuAnn Gabel 

Florence Gullion 

Carol Kempton 

Rob Tierney & Karen 

Richardson 

The Turkovich Family 

IN MEMORY OF FAYE CRAIG 

Rubin Raymond 

IN MEMORY OF PATRICIA HOPKINS 

Thomas Hopkins 

IN MEMORY OF DR. WILLIAM JACK 

Clair Allyn 

Anonymous 

Bonhomme Presbyterian 

Church, Circle 7 

Doug & Jean Coffman 

Jeff & Seda Follis 

Jim & Susan Hawthorne 

Martin Jernigan 

Bill & Carol Mattson 

James & Anne McLaren 

William Moskoff 

Mike & Mary Beth Neukomm 

Prolog Ventures Team 

Robert Ramsey 

Michael Schuler 

Vincent Skroska & Family 

Stephen L. Wells 

William & Melinda Wilp 

Elizabeth Yount 

IN MEMORY OF ROBERT JESULAITIS 

Thomas Jesulaitis 

IN MEMORY OF QUENTIN JONES 

Rubin Raymond 

IN MEMORY OF LOU & CAROL KONICEK 

Nancy Harrington 

IN MEMORY OF DR. ERIC LEMMER 

Charissa Chang, MD 

Joseph Odin, MD, PhD 

CORPORATE DONORS 

Campaign 

Founder’s Circle 

Schering-Plough 

Pioneer’s Circle 

Roche 

Vertex 

Visionary’s Circle 

Bayer HealtchCare 

Pharmaceuticals 

Onyx Pharmaceuticals 

Liver Institute and Foundation 

for Education and Research 

(LIFER) 

Innovator’s Circle 

Astellas Transplant 

Axcan Pharma 

Gilead 

GlaxoSmithKline 

Salix Pharmaceuticals 

Benefactors Circle 

Bristol-Myers Squibb Company 

Avectra 

Cavarocchi, Ruscio, Dennis & 

Assoc. LLC 

CCS Fund Raising 

CLI Graphics 

DelCor Technology Solutions 

Digital Acumen 

DSK Solutions 

Emory Conference Center 

Hotel 

Fusion Productions 

John Wiley & Sons 

Next Year’s News 

PSAV Presentation Services 

SciClone Pharmaceuticals, Inc. 

Stoladi Property Group, Inc. 

SunTrust Bank 

Yanni Partners 

As of December 31, 2009 

26 


Governance 

2012 Governing Board 2011 Governing Board 2011 Committee Chairs 

President 



New Haven, CT 

President-Elect 


University of Texas 

Southwestern 

Dallas, TX 

Past- President 


Bethesda, MD 

Secretary 


Children’s Hospital 

Medical Center 

Cincinnati, OH 

Treasurer 


University of 

Chicago Hospitals 

Chicago, IL 

President 


Bethesda, MD 

President-Elect 



New Haven, CT 

Secretary 


Children’s Hospital Medical 

Center 

Cincinnati, OH 

Treasurer 


University of Chicago 

Hospitals 

Chicago, IL 

Past- President 


Virginia Commonwealth 

University 

Richmond, VA 

Annual Meeting 

Education Committee 

2009–2011 Chair 

Frank A. Anania, MD 

Basic Research 

Committee 

2010–2012 Chair 

Lopa Mishra, MD 

Clinical Research 

Committee 


W. Ray Kim, MD 

Development Committee 

2011 Chair 


Education Oversight 

Committee 

2010–2012 Chair 


Ethics Committee 

Journals Publications 

Committee 

2010–2012 Chair 

Michael B. Fallon, MD 

Membership Committee 


Rolland C. DIckson, MD 

Nominating Committee 



2012 Chair 


Practice Guidelines 

Committee 

2009–2012 Chair 

Jayant A. Talwalkar, MD, MPH 

Program Evaluation 

Committee 

2010–2012 Chair 

Mary E. Rinella, MD 

Governance 

Councilors 

Adrian M. Di Bisceglie 

MD, FACP 

Saint Louis University 

St. Louis, MO 

Gyongyi Szabo MD, PhD 

University of Massachusetts 

Worcester, MA 

Keith D. Lindor, MD 

Arizona State University 

Tempe, AZ 

Councilors-at-Large 

Ginny L. Bumgardner, 

MD, PhD 

Ohio State University 

Columbus, OH 

Norah Terrault MD, MPH 

University of California, 

San Francisco 

San Francisco, CA 

Raymond T. Chung, MD 

Massachusetts 

General Hospital 

Boston, MA 

Councilors 

Adrian M. Di Bisceglie, 

MD, FACP 

Saint Louis University 

St Louis, MO 


University of Texas 

Southwestern 

Dallas, TX 

Gyongyi Szabo, MD, PhD 

University of Massachusetts 

Worcester, MA 

Councilors-at-Large 

Ginny L. Bumgardner, 

MD, PhD 

Ohio State University 

Columbus, OH 

Anna Mae Diehl, MD 

Duke University Medical 

Center 

Durham, NC 

Norah Terrault, MD, MPH 

University of California, 

San Francisco 

San Francisco, CA 

2011–2013 Chair 

Adrian Reuben, MBBS, FRCP 

Federal Agencies 

Liaison Committee 


Laurie D. DeLeve, MD, PhD 

Finance Committee 


Andrew S. Klein, MD, MBA 

Hepatology Associates 

Committee 


Joy A. Peter, RN, BSN 

International Relations 

Advisory Committee 



AASLD/ALF Joint 

Research Awards 

Review Committee 


Linda Greenbaum, MD 

2012–2014 Co-Chair 

Steven Lidofsky, MD, PhD 

Public and Clinical 

Policy Committee 


Hal F. Yee, MD, PhD 

Scientific Program 

Committee 



2010–2012 Co-Chair 


Surgery and Liver 


Committee 

2010–2012 Chair 

David J. Reich, MD, FACS 

Training and Workforce 

Committee 


Steve K. Herrine, MD 

2011–2013 Co-Chair 

Bruce A. Luxon, MD, PhD 


Governance 

2012 Initiatives: 

Liver education for 

the next generation 

In an ever-changing world, it is 

imperative for AASLD to expand our 

methods of presenting the top-notch 

liver research programing which has 

become the standard in the field. Multimedia 

and other web-based educational 

products will make liver disease education 

available to more health-care providers 

outside of hepatology. The online journal, 

Clinical Liver Disease (CLD), will provide 

continuing medical education (CME) and 

peer-reviewed content to help practitioners 

in the diagnosis and management of 

patients with liver disease. Physicians 

outside of hepatology will have immediate 

access to the most up-to-date information 

and trends in hepatology. 

As the largest organization of hepatology 

providers, AASLD is in the best position 

to offer guidance to young investigators, 

either just starting their careers or deciding 

on a career path, through mentorship with 

members already established in the field. 

Offering mentoring opportunities may just 

be the catalyst needed to increase interest 

in the field and inspire the next generation 

of hepatology providers. 

To be committed to the future, also means 

being committed to the present, and those 

already dedicated to the field. AASLD 

remains committed to the research and 

career development awards that support 

the research and discoveries that progress 

liver research and will lead to improved 

treatments for patients with liver disease. 

Without these individuals, the field cannot 

move forward, and patients do not have 

access to trained hepatology providers. 

28 


Code of Conduct for Members 

1. Professional Integrity: 

• Members should strive to improve the care and 

advance the health of their patients, advance medical 

knowledge and demonstrate the highest levels of 

professionalism. 

• Members shall comply with all AASLD policies 

including but not limited to AASLD bylaws, AASLD 

code of conduct as well as all laws, government 

regulations and requirements of other bodies 

governing the member on account of his or her 

professional status. 

2. Scientific Integrity: 

• All research will be conducted in accordance with the 

member’s institutional regulations and federal laws 

related to animal and human research and comply 

with the highest standards for the ethical treatment 

of animals and humans in research. 

• All research reported by members will comply 

with the rules of authorship as outlined by the 

International Committee of Medical Journal Editors 

(1997). 

• All potential conflicts of interest that may potentially 

bias the conduct and/or reporting of the research 

must be disclosed by all members. 

3. Personal Integrity: 

• Members will use AASLD resources/logo for the 

benefit of AASLD and not for personal gain. Thus, 

members will not: 

–– 

Use AASLD employees to perform services for 

a company/organization that the member has 

ownership interests or receives remuneration from. 

–– 

Engage in unauthorized use of AASLD resources 

to support an independent entity in which the 

member holds a financial or other interest. 

–– 

Use AASLD resources for personal use. 

–– 

Use the imprimatur of AASLD or ones relationship 

to AASLD to develop business and professional 

relationships that only benefit the individual. 

–– 

Influence negotiation of contracts between AASLD 

and other entities that the member has ownership 

or direct/indirect financial relationships with. 

–– 

Interfere with the audit process of the AASLD 

finances or attempt to influence the annual 

independent audit report. 

• Members shall disclose any relationships that pose 

or could be construed to pose potential conflict of 

interest such as relationships which may affect or 

appear to affect Association activities and decisions. 

4. Behavior to promote the mission of AASLD: 

• Members, when acting on behalf of AASLD, will make 

decisions that are in the best interests of AASLD. 

• Members will use privileged information that they 

have access to for the benefit of AASLD and avoid 

inappropriate use of such information. 

Industry Guidelines 

AASLD recognizes the importance of the relations 

between the pharmaceutical and medical device/ 

equipment industry and healthcare professionals. Several 

organizations have developed guidelines and codes of 

ethics on this subject. AASLD encourages its members to 

be aware of these guidelines: 

• Standards for Commercial Support 

Accreditation Council for Continuing Medical 

Education (ACCME) 

• Code of Ethics on Interactions with Healthcare 

Professionals 

Advanced Medical Technology Association 

(AdvaMed) 

• Opinion 8.061 and other related 

guidance from the Code of Medical Ethics 

American Medical Association (AMA) 

• Compliance Program Guidance for 

Pharmaceutical Manufacturers 

Office of Inspector General (OIG) 

• PhRMA Code on Interactions 

with Healthcare Professionals 

Pharmaceutical Research and Manufacturers 

of America (PhRMA) 

Governance 


Policy on Acceptance and Disclosure of External Funds 

Governance 

Introduction 

The primary mission of the American 

Association for the Study of Liver 

Diseases (AASLD) is to be the leading 

organization advancing the science and 

practice of hepatology, thereby promoting 

liver health and optimal care of patients 

with liver and biliary tract diseases. 

AASLD may promote these goals by 

accepting external funds such as grants, 

sponsorships, or gifts in support of 

activities designed to meet the mission 

statement. One of the major sources 

of external funds over the past several 

years has been industry, and this has 

the potential to raise concern that 

the membership and leaders of our 

organization may perceive this as a 

possible area of conflict of interest. 

The AASLD Ethics Committee has written 

a policy document that offers guidelines 

for the negotiation and acceptance 

of external funds to support AASLD’s 

mission. Individuals and groups which 

solicit funds on behalf of AASLD must 

be familiar with these guidelines and 

clearly work within the boundaries 

that are designated by this policy 

statement. AASLD takes great care to 

remain independent and unbiased in its 

adjudication of funds provided by industry 

and the selection of recipients of these 

restricted funds. 

Background 

External funds help AASLD pursue its 

mission in several ways by allowing AASLD 

to pursue worthwhile activities that it 

might otherwise have to forego due to the 

lack of resources. They may be offered to 

AASLD as either restricted or unrestricted 

grants. Examples include: 

Unrestricted Funds 

• Enables AASLD to undertake initiatives 

to promote patient care, teaching, and 

research in liver diseases beyond the 

capability of internal funds. 

• Assist in improving the quality of AASLD 

meetings by allowing the support 

scientific educational programs such 

as State-of-the-Art Lectures or Single 

Topic Conferences (STCs). 

• Assist AASLD in providing services of 

value to members that advance the 

goals of the society that are currently 

beyond the capability of internal funds. 

Restricted Funds 

These are funds offered to AASLD 

by industry in the form of grants to 

promote training of hepatology fellows 

and associates. These funds are 

unencumbered in that they are under the 

exclusive control of AASLD. 

Guidelines for the Acceptance 

of External Funds 

General Policy 

AASLD may accept external funds for high 

quality projects that are: 

• Consistent with its mission for research, 

education, and improved patient care, 

• Are particularly well suited to be 

conducted by AASLD, 

• Meet an education need currently 

unmet by limitations in internal funds, 

and 

• Are free of commercial bias. 

Educational Assurances 

As required by the Accreditation Council 

for Continuing Medical Education 

(ACCME), AASLD must retain ultimate 

control over educational content, selection 

of speakers, review of educational 

materials, selection of research for 

presentation, or other public activities 

with scientific content that are financed 

with external funds. Courses, workshops, 

or other educational presentations at the 

Annual or other national meetings are 

considered educational projects from 

the perspective of this policy. AASLD’s 

educational projects comply with ACCME 

guidelines to ensure its independence 

from the interests of external funders. 

In addition, and as required by ACCME, 

speakers must disclose whether any 

part of their presentation resulted from 

external funding and whether they have 

any personal financial interest in the 

subject matter of the presentation. AASLD 

acknowledges all external funding in the 

appropriate venue for the activity. 

Disclosure of Support 

AASLD discloses all activities that are 

partially or completely financed by 

external funds, including but not limited 

to research awards, presentations, 

publications, and support of policy efforts 

(see subsequent section of procedures for 

disclosure). 

Business Relationships 

AASLD may establish a business 

relationship with an individual, group, 

or organization for the development 

of journals, books, software, or other 

educational products. However, 

acceptance of any funds that come to 

AASLD from these relationships are 

governed by these guidelines for external 

funding of projects. It is appropriate that 

recognition be given to a sponsor but 

under no circumstances is it allowable 

to use such devices to endorse, develop, 

distribute, or sell products such as 

pharmaceuticals, medical devices, 

diagnostics, or other products purported 

to have a direct health benefit to patients. 

Awards 

When AASLD accepts external funds for 

awards that reflect acknowledgement for 

work already completed, awardees are 

selected based on criteria established by 

AASLD. The sponsor has no input in the 

selection criteria or selection of the award 

recipient. The sponsor cannot impose 

obligations on the recipient of an award. 

Advertising 

AASLD journals accept advertisements 

for medically-related products and 

services. Final judgment regarding 

the appropriateness and acceptability 

of advertisements rests with the 

journal’s editorial staff. Advertising in 

any other venues is approved by the 

AASLD Executive Committee and/or 

Governing Board. 

30 


Code for the Assessment and 

Management of Conflict of Interest 

Purpose and Application: 

Complex relationships with for-profit 

and not-for-profit organizations and 

entities may by their existence present 

a perceived or real conflict with the 

missions and values of the AASLD. In as 

much as the existence of real or perceived 

conflicts of interest serves to undermine 

the stature, integrity, creditability and 

function of the AASLD, AASLD must 

insure that its membership, leadership 

and the public-at-large understand the 

importance it places on identification and 

resolution of conflicts. The independence 

and the credibility of AASLD require 

implementation of a clear policy that 

can be enacted in a practical, fair and 

transparent manner. 

Conflicts of interest are defined as any 

circumstances that create a risk that 

professional judgments or actions 

regarding a primary interest will be unduly 

influenced by a secondary interest. 

1 

Primary interests are those associated 

with the stated mission of the AASLD. 

Secondary interests may be financial or 

non-financial in nature. (e.g. intellectual 

conflict of interest, 2 membership in other 

organizations, or institutional or corporate 

associations). 

Application of this policy is to be 

temporally phased in with addition of new 

members and reappointments (see for 

example, Section 1G). Further, the degree 

of permitted associations will be regulated 

in a fashion that is commensurate with 

the influence that the individual has in the 

creation, implementation or execution 

of AASLD functions. Since the AASLD 

plays roles of advocacy for clinical care, 

education and research in liver diseases, 

the policy shall cover all individuals who 

participate at any level in those functions. 

The definition of conflict, review of 

disclosures and the adjudication and 

resolution of conflicts needs to be a 

multi-layer effort that is charged to the 

Ethics Committee. The policy outlined will 

require diligent interpretation in complex 

cases, with the goal of providing clarity 

for members as they engage in their 

1 Conflict of interest in medical research, education 

and practices. http://www.nap.edu/catalog/ 

12598.html 

2 Guyatt G, Aki EA, Hirsh J, et al. The vexing problem 

of guidelines and conflict of interest: a potential 

solution: Ann Intern Med 2010;152:738-41 

functions. The overriding goal is to provide 

objective conflict management. The 

application of this Code is not intended to 

be punitive to the member. The process is 

by its nature fluid and ongoing reporting 

and review is necessary. 

Definitions 3 

The following terms are defined for 

purposes of this Code: 

Company: A Company is an entity 

that develops, produces, markets, or 

distributes drugs, devices, services or 

therapies used to diagnose, treat, monitor, 

manage, and alleviate health conditions 

and whose interests could reasonably 

be seen to overlap with the interests, 

missions and values of the AASLD. This 

definition is not intended to include 

entities outside of the healthcare sector, 

or entities through which physicians 

provide clinical services directly to 

patients. 

Direct Financial Relationship: A Direct 

Financial Relationship is a compensated 

relationship with a Company held by an 

individual that should generate an IRS 

Form W-2, 1099 or equivalent income 

report. 

Educational Grant: An Educational 

Grant is a sum awarded by a Company, 

typically through its grants office, for 

the specific purpose of supporting an 

educational or scientific activity offered by 

the recipient. Educational Grants awarded 

by a Company to support a CME activity 

are referred to in the ACCME Standards 

for Commercial Support as “Commercial 

Support” of CME. An Educational Grant 

may also be “in‐kind.” 

Gifts “in kind”: Compensation in goods 

or services rather than money; nonmonetary 

gifts of valued consideration 

(e.g. access to advisory or consultant 

services, specific resource allocation or 

access). 

For purposes of this Code, a Research 

Grant is an award that is given by a 

Company or other funding agency to 

an individual, institution, or practice to 

fund the conduct of scientific research. 

Companies may provide an individual, 

institution, or practice with programmatic 

3 Modified from Council of Medical Specialty Societies, 

230 E Ohio St. Suite 400 | Chicago, IL 60611 

support (e.g., an Educational Grant) 

designated for the specific purpose of 

funding Research Grants. 

Principles and Practice 

1. Independence 

AASLD will develop all educational 

activities, scientific programs, products, 

services and advocacy positions aligned 

with the mission of the Association, 

independent of external influence, and 

will develop and adopt policies and 

procedures that foster this independence. 

AASLD will separate their efforts to 

seek Educational Grants, Corporate 

Sponsorships, Charitable Contributions, 

and support for Research Grants from 

their programmatic decisions. The initial 

step in program development is the 

independent assessment by AASLD that 

a program is needed (e.g., to address 

gaps in care or knowledge). Once AASLD 

determines that a program is needed, it 

is permissible to assess the availability 

of funds. 

A. The Ethics Committee of AASLD will 

be responsible for evaluating and 

adjudicating conflicts of interest and 

guiding the interactions of AASLD, 

and its Members, and monitoring 

the compliance with this Code by the 

Covered Individuals (See Appendix B 

at www.aasld.org). 

B. Approval of a motion involving 

identification or management of 

a conflict of interest by the Ethics 

Committee requires a two-thirds 

majority of voting members. 

C. The President, President-elect and the 

Editor-in-Chief, Hepatology, may not 

have Direct Financial Relationships 

with Companies during his or her term 

of service. 

D. Other AASLD Members are permitted 

to have Direct Financial Relationships 

with Companies and must disclose 

any such Relationship and indicate 

whether it is in excess of $5000 per 

year when requested. 

E. Nominees for Councilor will be 

informed that they will be required 

to terminate any Direct Financial 

Relationships with Companies prior to 

their term as President-elect. 

Governance 


Code for the Assessment and 

Management of Conflict of Interest (continued) 

Governance 

F. The President, President-elect and 

the Editor-in-Chief, Hepatology, may 

provide uncompensated service to 

Companies and accept reasonable 

travel reimbursement in connection 

with those services. The President, 

President-elect and the Editor-in-Chief, 

Hepatology, may accept research 

support as long as grant money is 

paid to the institution (e.g., academic 

medical center) or practice where 

the research is conducted, not to 

the individual. Research support, 

uncompensated services and other 

permitted relationships must be 

disclosed to the AASLD, regardless of 

any monetary value or its equivalent. 

Membership as an officer or member 

of the governing board of a related 

professional association is not allowed. 

G. AASLD may permit the President, 

President-elect and the Editor-in- 

Chief, Hepatology, who are elected 

or appointed prior to the time the 

AASLD approves this Code to maintain 

existing Direct Financial Relationships 

with Companies for the duration of 

their terms. 

H. Covered Individuals will use written 

agreements with Companies for 

Educational Grants, Corporate 

Sponsorships, Charitable 

Contributions, Business Transactions, 

and support of Research Grants. 

Written agreements should specify 

what the funds are for, the amount 

given, and the roles of the Company 

and the Covered Individual. These 

agreements may be reviewed by the 

Ethics Committee. 

2. Transparency 

AASLD will make their conflict of interest 

policies available to their members and 

the public. AASLD, through the Ethics 

Committee, will manage conflicts of 

interest in a variety of ways. This may 

include disclosure alone, or other 

conflict of interest management 

mechanisms such as recusal, divestiture 

or AASLD-independent review. The 

Ethics Committee will select conflict of 

interest management mechanisms that 

are appropriate for the activity, type of 

relationship and role of the individual 

under consideration (see Appendix B). 

A. AASLD, through the Ethics Committee, 

will provide written disclosure forms 

to individuals who serve on behalf 

of the AASLD (see Appendix C at 

www.aasld.org), and will use the 

disclosed information to manage 

conflicts of interest in decision‐making. 

AASLD will require volunteers to 

update disclosure information at least 

annually and when material changes 

occur. 

B. AASLD will disclose all Direct Financial 

Relationships in excess of $5000 per 

year and uncompensated relationships 

with an equivalent monetary value held 

by the President, President-elect and 

the Editor-in-Chief, Hepatology, making 

this information available to their 

members and the public. AASLD is not 

required to disclose the relationships 

of other Board members elected prior 

to the time that AASLD approves this 

Code. 

C. Disclosure forms obtained during 

any nominating process shall not 

be included as part of the review of 

the candidate by the Nominating 

Committee. The disclosures of the 

finalists selected by the Nominating 

Committee shall be reviewed by the 

Ethics Committee prior to review by 

the Governing Board. 

3. Clinical Practice Guidelines 

AASLD will base Clinical Practice 

Guidelines on scientific evidence and 

will follow a transparent Guideline 

development process that is not subject 

to Company or other external influence, 

including any intellectual conflict of 

interest. AASLD will publish a description 

of their Guideline development process, 

including their process for identifying and 

managing conflicts of interest, in AASLD 

Journals or on AASLD websites. 

A. AASLD will not permit direct 

Company support of the development 

of Clinical Practice Guidelines or 

Guideline Updates. 

B. Permitted relationships and their 

disclosure for Clinical Practice 

Guidelines Committee members and 

Chairs are outlined in Appendix A at 

www.aasld.org. 

C. AASLD will require that a majority 

(based on simple numerical majority) 

of Guideline development panel/ 

writing group members are free of 

conflicts of interest relevant to the 

subject matter of the Guideline during 

the period of Guideline Development. 

If Guideline development panel/ 

writing group members and chairs 

have conflicts of interest at the time 

of adoption of the Code, AASLD may 

permit these individuals to remain 

involved in drafting the Guideline 

without voting privileges. However, 

each panel/writing group for which 

this exception is made must meet 

the requirements of this Code by the 

time of the next Guideline Update to 

remain a member of the Guideline 

development panel/writing group. 

For the minority of panel/writing 

group members who are not free of 

conflicts, AASLD will apply procedures 

for conflict of interest management 

developed in accordance with 

Section 2. 

D. AASLD will require the panel/writing 

group chair (or at least one chair 

if there are co‐chairs) to be free of 

conflicts of interest and to remain 

free of conflicts of interest during 

Guideline development up to the time 

of publication of the Guideline. 

E. AASLD will require that Guideline 

recommendations be subject to 

multiple levels of review, including 

rigorous peer‐review by a range of 

experts. AASLD will not select as 

reviewers individuals employed by or 

engaged to represent a Company. 

F. AASLD will publish Guideline 

development panel/writing group 

members’ disclosure information 

adjacent to each Guideline and will 

identify voting members. 

G. AASLD will require all Guideline 

contributors, including expert advisors 

or reviewers who are not officially part 

of a Guideline development panel/ 

writing group, to disclose financial or 

other substantive relationships that 

may constitute conflicts of interest. 

4. Adherence to the Code 

Adherence to this Code will be 

promulgated by AASLD. All Members of 

the AASLD will be encouraged to adopt 

the principles of this Code and their 

application. 

32 


Past Presidents 

1950 

Leon Schiff, MD 

1966 

Robert E. Shank, MD 

1982 

Willis C. Maddrey, MD 

1998 

Neil Kaplowitz, MD 

1951 

Frederick W. Hoffbauer, MD 

1967 

Kurt J. Isselbacher, MD 

1983 

E. Lee Forker, MD 

1999 

Joseph R. Bloomer, MD 

1952 

Paul Gyorgy, MD 

1968 

Carroll M. Leevy, MD 

1984 

Robert K. Ockner, MD 

2000 

William F. Balistreri, MD 

1953 

Jesse L. Bollman, PhD 

1969 

Archie H. Baggenstoss, MD 

1985 


2001 

Eugene R. Schiff, MD 

1954 

Franklin Hanger, MD 

1970 

Richard C. Britton, MD 

1986 

Marcus A. Rothschild, MD 

2002 

Thomas D. Boyer, MD 

1955 

Robert M. Kark, MD 

1971 

Allan G. Redeker, MD 

1987 


2003 

Frederick J. Suchy, MD 

1956 

Wade Volwiler, MD 

1972 

Burton Combes, MD 

1988 

David H. Van Thiel, MD 

2004 

Bruce R. Bacon, MD 

1957 

Gerald Klatskin, MD 

1958 

Thomas C. Chalmers, MD 

1959 

Richard B. Capps, MD 

1960 

George J. Gabuzda, MD 

1961 

Stanley Hartroft, MD 

1973 

Harold O. Conn, MD 

1974 

John R. Senior, MD 

1975 

William H.J. Summerskill, MD 

1976 

Irwin M. Arias, MD 

1977 

Fenton Schaffner, MD 

1989 

Paul D. Berk, MD 

1990 

Roger Lester, MD 

1991 

Michael F. Sorrell, MD 

1992 

Jay H. Hoofnagle, MD 

1993 

Esteban Mezey, MD 

2005 

Teresa L. Wright, MD 

2006 

John M. Vierling, MD, FACP 

2007 

Gregory J. Gores, MD 

2008 

Arthur J. McCullough, MD 

2009 

Scott L. Friedman, MD 

Governance 

1962 

Hugh R. Butt, MD, MS 

1978 

Robert Zeppa, MD 

1994 

John L. Gollan, MD, PhD 

2010 


1963 

Hans Popper, MD 

1979 

Harold J. Fallon, MD 

1995 

D. Montgomery Bissell, MD 

2011 


1964 

Telfer B. Reynolds, MD 

1980 

James L. Boyer, MD 

1996 


1965 

Rudi Schmid, MD, PhD 

1981 

Steven Schenker, MD 

1997 

Nicholas F. La Russo, MD 

AASLD Staff 

Executive Division 

Sherrie Cathcart, CAE 

Executive Director 

Heidi Bruce, MBA 

Director, Development 

Audrey Davis-Owino 

Director, Governance and 

Practice Guidelines 

Kristin Hutcherson 

Coordinator, Development 

Natalie Papalaskaris 

Coordinator, Governance 

Administration 

and Finance 

Nellie Sarkissian 

Chief Operations Officer 

Mark Islam 

Controller 

Joshua Lowe 

Director, Member Services 

Catherine Celestino 

Staff Accountant 

Mary Kostelc 

Coordinator, Member Services 

Erica Lowe 

Representative, Member Services 

Communications 

and Public Policy 

Gregory Bologna, CAE 

Senior Director/Managing Editor 

Yvonne Kassimatis 

Director, Marketing 

Ann Haran 

Senior Manager, Publications 

Karey Martinez 

Manager, Publications 

Tazeen Shirazi 

Editorial Assistant, Publications 

Karina Bustillo 

Editorial Assistant, Publications 

Megan Webster 

Coordinator, Marketing 

EDUCATION AND MEETINGS 

Julie Deal 

Deputy Executive Director 

Janeil Klett 

Director, Education 

Melissa Parrish, CMP 

Director, Meetings 

and Conferences 

Denise Seise 

Director, Exhibits and 

Professional Services 

Edward Pramuk 

Senior Manager, Education 

Akena Better, CMP 

Manager, Meetings 


Melissa Sloan 

Assistant, Meetings 


Anne Wrobel 

Coordinator, Education 

Lindsey Toms 

Coordinator, Education 

IT/Web Services 

Paula McGraw 

Senior Director, 

IT/Business Analyst 

Chris Dugmore 

Director, Data Integrity 

Roger Riddell 

Manager, Website 

Jack Evans 

Coordinator, Website Content

Inside Back Cover 

www.aasld.org 

1001 North Fairfax Street, Suite 400 

Alexandria, VA 22314

2011 Annual Report - AASLD

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