The FSMB's mission calls for "continual improvement in the quality, safety and integrity of health care through the development and promotion of high standards for physician licensure and practice.

"[1] Based in Euless, Texas and Washington, D.C., the FSMB serves as the national voice for its member boards and is a recognized authority throughout the United States and internationally on issues related to medical licensure and discipline.

[1] Medicine is a regulated profession in the United States because of the potential harm to the public if an incompetent or impaired physician is licensed to practice.

The founding of the FSMB coincides with the national impact of the Flexner Report, which was published in 1910 by the Carnegie Foundation and led to dramatic changes in medical education.

The FSMB's Chief Executive Officers since the organization's inception have been George H. Matson, (1912), Otto V. Huffman, (1912–1915), Walter L. Bierring, (1915–1961), Stiles D. Ezell, (1961), Harold E. Jervey Jr., (1961–1962, 1977–1984), McKinley H. Crabb, (1962–1977), Bryant L. Galusha, (1984–1989), James R. Winn, (1989–2001), Dale L. Austin, M.A.

The FPDC permits medical boards to view a consolidated national record of disciplinary actions taken against a physician dating back to the early 1960s.

The FPDC is routinely consulted by licensing and disciplinary boards; military, governmental and private agencies; and organizations involved in the employment and/or credentialing of physicians.

The FPDC also serves state medical boards as a back-up repository, both in hard copy and electronic files, of their disciplinary action data.

[16] During the immediate aftermath of the effects of Hurricane Katrina in 2005, the staff of the FSMB and its members boards worked together to expedite medical care for victims while simultaneously protecting the public from dangerous doctors or imposter physicians.

Such services benefit state medical boards, hospitals and other organizations interested in ensuring that physicians who are providing patient care are competent to do so.

"[18] A monthly newsletter, FSMB Newsline, and a weekly e-mail publication, BoardNet News, keep member boards and their staff up to date.

[19][20][21] In 2012, as a result of the Sentinel report, the US Senate Finance Committee started investigating the tight relationship of various tax-exempt organizations, including FSMB, with opioid manufacturers.