1. ASSET INVESTMENT MANAGEMENT SYSTEM The AIMS Council Status Report Budget and Goals Retreat Co Chairs: Bruce Lindsey Charles Paidas Joann Strobbe

2. “Cosa Nostra” The AIMS Council Status Report Budget and Goals Retreat Co Chairs: Bruce Lindsey Charles Paidas Joann Strobbe

3. AIMS: Objectives To support University of South Florida’s College of Medicine Mission, Goals, and Strategic Plan by: 1) Aligning resources with missions: The All Source Funding Model 2) Implementing a salary program that links assignment and performance to pay Kickoff = March 9, 2005

4. The AIMS Council Co-Chairs Bruce Lindsey Chuck Paidas Joann Strobbe Basic Sciences Clinical SciencesFinance & Administrative Members Michael Barber, Molecular MedicineJim McKenzie, USF Health IT Robert Belsole, SurgeryVicky Mastorides, Dean’s Office Eric Bennett, Molecular Pharmacology & PhysiologyJean Nixon, Business Office H. James Brownlee, Family Medicine Robert Nelson, Pediatrics Karen Burdash, Clinical FinanceJohn Curran, Dean’s Office Duane Eichler, Molecular MedicineWilliam Quillen, Physical Therapy Peter Fabri, SurgeryAbdul Rao, Research Frank Fernandez, PsychiatryPaul Wallach, OCME Harvey Greenberg, Internal MedicineLynn Wecker, Research Joseph Jackson, USFPGPaul Knaus, Dean’s Office

5. The AIMS Deliverables: Chapter 1 COM Basic Science and Clinically Ranked Faculty All Source Funding Model Performance Requirements The Data warehouse/dashboard Annual Assignment Form Evaluation Faculty Guidebook* *leadership institute

6. The AIMS Future Deliverables: Chapter 2 Evaluation of Chairs Staff Administration

7. The AIMS Priority: “…Leave the gun. Take the cannoli…” It is a PILOT Initiative. …Let’s get it started.

8. The AIMS Process

9. Literature Review of All Source Model –1/3 of the faculty would have realized additional compensation from the model –1/3 would have realized no impact –1/3 would have seen a reduction in their compensation for FY05-06. –79% of the faculty would have been within a 20% variance of their actual Compensation The remaining 21% would have been evenly split between those realizing a positive impact greater than 20% and those realizing a negative impact greater then 20% (Drexel, Kansas, Iowa, Georgetown)

10. AIMS: FAQ’s from Faculty Should state resources support the three missions? How does a college or university support quality and new educational models, such as small group learning and computer based instruction? How does the college support instruction of residents and fellows?

11. AIMS: FAQ’s from Faculty Everyone can be treated fairly but no one can be treated the same! If people are happy then leave them alone. Academic medicine means something, what exactly does it mean?

12. AIMS: FAQ’s clinical issues Must understand sources of money. Hard money = State, TGH, Moffitt, Fed and State Contracts Soft Money = patient revenue In order to increase revenue we must either: increase the contracts or decrease the expenses associated with soft money

13. AIMS Salary Subcommitee: The realistic solution EXPENSESEXPENSES for all departments: range = 50 – 67% Dean’s Tax7% Corporation 17.5% Department 10-14% Division ~ 30%

15. Fully Implement Assess & Adjust AIMS Salary Plan Implementation Timeline Clinician Ranked Faculty Attachment C Dept Pilot Dept Assignment AIMS Approves Dept Defines February 15, 2006April 15June 15 July 1 Departments submit proposed performance requirements to AIMS Council AIMS Council reviews and approves for 06/07 assignments July 1, 2007 Full Implementation of AIMS Pay for Performance Salary Plan Assignments for all ranked faculty must include: College-wide minimum percentages of effort and Departmental performance requirements for base, incentive and bonus pay Pilot of departmental performance requirements and impact on pay Departments fully implementing the AIMS Salary Plan as of July 1, 2006 will be rewarded with a $500 Dean’s Bonus per faculty member. (11/29/05) Departments fully implementing the AIMS Salary Plan as of July 1, 2006 will be rewarded with a $500 Dean’s Bonus per faculty member. (11/29/05) Revise Department criteria as appropriate

16. All Source Funding Model Finance Subcommittee

17. College of Medicine Minimum Standards for Percent of Effort for Ranked Faculty (Revised by Council 3/30/06) CATEGORYCOLLEGE - WIDE Instruction5% Scholarly Activity5% Service/Governance3% Clinical Care* Other (Professional Development or Leave of Absence with Pay) 2% NOTE: The minimum required workweek for 1.00 FTE Faculty is 40 hours; faculty are expected to work the number of hours necessary to accomplish their assigned responsibilities. The minimum work year is 46 weeks or 1840 hours. *Not applicable to Basic Science faculty. Clinical Faculty assignment will include patient care with and without students or house staff and will be benchmarked.

18. The Tipping Point AIMS Council Wallach Belsole Rao

19. College-Wide Basic Science Ranked Faculty Performance Requirements WORK CATEGORY (refer to definitions page)BASEINCENTIVEBONUS Instruction (5% Minimum Effort) 10. Medical student instruction 12. Housestaff/postdoctoral instruction 13. Graduate/Other Instruction 14. Thesis/Dissertation 15. Other instructional effort 16. Supervision - Student Interns 17. Academic Advising Research/Scholarly Activity (5% Minimum Effort) 20. Sponsored research 22. Departmental research Service (3% Minimum Effort) 30. Public service 31. University governance Administration 40. University/College/Department Administration Clinical Care (0% Minimum Effort) Other (2% Minimum Effort) 60B. Leave (category 60A) or Professional development

20. COLEGE-WIDE CLINICIAN RANKED FACULTY PERFORMANCE REQUIREMENTS ACTIVITY CATEGORY (refer to definitions page)BASEINCENTIVE BONUS INSTRUCTION (every ranked faculty must have at least 5% of total effort assigned to instruction activities) 10. Medical student instruction* 12. Housestaff instruction* (Residents) / Postdoc 13. Graduate and Other Instruction 14. Thesis/Dissertation 15. Other instructional effort 16. Supervision - Student Interns 17. Academic Advising RESEARCH 20. Sponsored research SCHOLARLY ACTIVITY (every ranked faculty must have at least 5% of total effort assigned to scholarly activities) 22. Scholarly Activity SERVICE (every ranked faculty must have at least 3% of total effort assigned to service activities) 30. Public service 31. University governance ADMINISTRATION (0% Minimum Effort) 40. University/College/Department/Program Administration CLINICAL CARE w/o students/housestaff (0% Minimum Effort) 50. Revenue-generating Clinical Care* 51. Non-revenue Generating Clinical Services* Other (2% Minimum Effort) 60. Leave of Absence with Pay 61. Professional Development

21. The dashboard

23. AIMS: Accomplishments Established COM minimum percentages of effort per assignment category for ranked faculty with substantial input from Vice Deans Identified measurable College performance requirements for base, incentive, and bonus pay Created a plan to develop additional measurable department-specific performance requirements for base, incentive and bonus pay Developing combined Assignment and Effort Form Data warehouse and Dashboard

24. AIMS: SWOT Analysis Strengths: Faculty Council and Chair Buy-In. Level the playing field. Reward the Knowledge Worker. Enhance dialogue. APT. LCME Weaknesses: Talk is cheap. Don’t stop here. Will it control expenses? Self Reporting. Cross Subsidization. LCME Opportunities: “Eat what you kill,” Align Sources and Uses of Capital. Expense Control. LCME. Threats: Disintegration of academic spirit. Legal Woes. Enforce non-Compliance. LCME

25. Closing Thoughts for Retreat: Caution because consultant can do this Student and Patient come first Always family at the cash register Evaluation for the “So What” Critical Your AIMS Council (Uncle/Aunt?)