1. LCME Report of Committee 8 Educational Resources: Finance 2005-2006
Charles Paidas, M.D., M.B.A., Committee Chair

2. Committee Membership
Charles Paidas, M.D., M.B.A., Committee Chair, Professor, Surgery and Pediatrics, AIMS Committee Co-Chairman
Joann Strobbe M.B.A.
CFO and Assoc VP of Finance, Administration & Technology
AIMS Committee Co-Chairman
Charles Brock, M.D.
Assistant Professor, Department of Neurology
Faculty Council Treasurer
John Dietz, Ph.D.
Professor, Molecular Pharmacology and Physiology
Charles Edwards, M.D., M.B.A.
Professor, Internal Medicine
Harvey Greenberg, M.D.
Associate Professor, Department of Interdisciplinary Oncology
Professor, Radiology
Richard Heller, Ph.D.
Associate Professor, Surgery
Richard Karl, M.D.
Richard G. Connar Professor
Chair, Surgery
Michael Parsons, M.D.
Professor, Obstetrics/Gynecology
Joseph Jackson
Executive Director USF Physicians Group

3. Executive Summary Educational Resources: Finance
Seminal areas of improvement and robust growth
Revenue Sources
The Practice Plan: USFPG
Two new facilities, with projected profitability within the next 2 years
In all areas of financial evaluation the committee identified “protection of the COM educational mission”

4. Issues relevant to finance: Sources of Revenue
’96-’97 = 19%
AAMC = 3.3%
’96-’97 = 13%
AAMC = 30%
’96-’97 = 47%
AAMC = 32.9%

5. Issues relevant to finance: Mechanisms to Protect balance of activities for Faculty
E & G State appropriation = 18 million
faculty reports 13% of their total effort in teaching medical students
AIMS
All Source Budget
Pay for Performance
Executive Leadership Team (ELT)
Dean, CFO, COO, all vice deans
Strategic planning and budget cycle

6. Issues for Finance: Stability of the practice plan
Sound organizational structure
Business Operations – Benchmarked Performance Measures
Days in AR, Charges, Collections, Global RVU’s, Clinic Process (IDX transactions, Ingenix Claims)
Allscripts Electronic Health Record
Faculty Growth and Retention = 438

7. Faculty Growth and Retention

8. Major Changes Since Last Review
Governance changes in the practice plan
EMC, revenue cycle functions
Enrollment cap at 480
Any increase must have LCME approval before capital and enrollment state funds are received
New revenue sources
USFPG growth for facilities
Basic Scientists with research awards
North and South campus facilities
Faculty recruitment
Orthopedics, Sports Medicine
New facilities
CAHC, Center for Advanced Medical Learning and Simulation, South Campus Clinical Facility
COM Organizational Changes

9. Finance: Areas of Strength
Management and growth of the practice Plan
National performance benchmarks
Consistent and growing state resource base
Sports medicine and additional medical students
Research expansion with organizational structure
Community outreach initiatives help expand diverse clinical education base
Growth in faculty expertise
Little competition for large multi specialty group

10. Finance: Areas of Concern
Indirect Rebates and Support of research Mission
Competition for Clinical Faculty Recruitment – national pressures $$$
Future USF COM state support in climate of additional medical schools
Threat of an emerging large group practice
Commitment from affiliated hospitals for support of all missions.

11. Finance Recommendations
Increase the Indirect Rebates
Continue to decrease the reliance on practice plan dollars in an effort to support the bond payments
Cement true teaching hospital support for educational and research missions
Increase philanthropic support for COM activities which support the educational mission