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ASSET INVESTMENT MANAGEMENT SYSTEM
The AIMS Council Status ReportBudget and Goals Retreat
Co Chairs:Bruce Lindsey Charles Paidas Joann Strobbe
“Cosa Nostra” The AIMS Council Status Report
Budget and Goals Retreat
Co Chairs:Bruce Lindsey Charles Paidas Joann Strobbe
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
The AIMS CouncilThe AIMS CouncilCo-Chairs
Bruce Lindsey Chuck Paidas Joann Strobbe Basic Sciences Clinical Sciences Finance & Administrative
Members
Michael Barber, Molecular Medicine Jim McKenzie, USF Health ITRobert Belsole, Surgery Vicky Mastorides, Dean’s OfficeEric Bennett, Molecular Pharmacology & Physiology Jean Nixon, Business Office H. James Brownlee, Family Medicine Robert Nelson, PediatricsKaren Burdash, Clinical Finance John Curran, Dean’s OfficeDuane Eichler, Molecular Medicine William Quillen, Physical TherapyPeter Fabri, Surgery Abdul Rao, ResearchFrank Fernandez, Psychiatry Paul Wallach, OCMEHarvey Greenberg, Internal Medicine Lynn Wecker, ResearchJoseph Jackson, USFPG Paul Knaus, Dean’s Office
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
The AIMS Future Deliverables:Chapter 2
Evaluation of
• Chairs
• Staff
• Administration
The AIMS Priority: “…Leave the gun. Take the cannoli…”
It is a PILOT Initiative.
…Let’s get it started.
The AIMS ProcessThe AIMS Process
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)
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?
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?
AIMS: FAQ’s clinical issues
• Must understand sources of money.Hard money = State, TGH, Moffitt,
Fed and State ContractsSoft Money = patient revenue
• In order to increase revenue we must either:
increase the contracts or decrease the expenses associated with soft money
AIMS Salary Subcommitee: The realistic solution
• EXPENSESEXPENSES
for all departments:
range = 50 – 67%
Dean’s Tax 7%
Corporation 17.5%
Department 10-14%
Division ~ 30%
AIMS Salary Plan Implementation TimelineBasic Science Ranked Faculty
AttachmentC
ImplementImplementDeptAssignment
AIMSApproves
Implementation of AIMS Pay for Performance Salary Plan
February 15, 2006 April 15 J une 15 J uly 1, 2006
Departments submit proposed modifications to college-wide performance requirements
AIMS Council reviews and approves for 06/07 assignments
Assignments for all ranked faculty must include: College-wide minimum percentages of effort and college-wide performance requirements for base, incentive and bonus pay
Dean will fund incentive and bonus pools for 2006/2007 fiscal year. (amount to be determined)
DeptInput
DeptInput
Fully Implement
Assess & Adjust
AIMS Salary Plan Implementation TimelineClinician Ranked Faculty
Attachment C
DeptPilot
DeptAssignment
AIMSApproves
DeptDefines
February 15, 2006 April 15 June 15 June 15 July 1
Departments submit proposed performance requirements to AIMS Council
AIMS Council reviews and approves for 06/07 assignments
July 1, 2007
Full Implementationof 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 departmentalperformance 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
All Source Funding ModelFinance Subcommittee
Source Total
% Amount % Amount % Amount % Amount % Amount % Amount % Amount
State Appropriation 30,417,684 70% 21,292,379 8% 2,433,415 10% 3,041,768 0% 0 0% 0 2% 608,354 10% 3,041,768
Tuition & Other 4,599,120 100% 4,599,120 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0
Contracts & Grants Sponsored) 21,088,936 0% 0 0% 0 0% 0 100% 21,088,936 0% 0 0% 0 0% 0
Endowed Chairs & Foundation Gifts 5,829,619 20% 1,165,924 0% 0 80% 4,663,695 0% 0 0% 0 0% 0 0% 0
Practice Plan 79,764,029 5% 3,988,201 8% 6,381,122 10% 7,976,403 0% 0 65% 51,846,619 2% 1,595,281 10% 7,976,403
Other Sources 1,716,791 0% 0 0% 0 40% 686,716 0% 0 40% 686,716 10% 171,679 10% 171,679
Total Revenue /Income: 143,416,179 31,045,624 8,814,537 16,368,583 21,088,936 52,533,335 2,375,313 11,189,850
USF College of Medicine Proposed Resource allocated by Mission
Dept. Research Sponsored Research Clinical Public Service/UG Admin.Instruction/ House Staff Post Doc
College of Medicine Minimum Standards for Percent of Effort for Ranked Faculty (Revised by Council 3/30/06)
CATEGORY COLLEGE - WIDE
Instruction 5%
Scholarly Activity 5%
Service/Governance 3%
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.
The Tipping Point
AIMSCouncil
Wallach
Belsole
Rao
College-Wide Basic Science Ranked Faculty Performance Requirements
WORK CATEGORY (refer to definitions page) BASE INCENTIVE BONUS
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
COLEGE-WIDE CLINICIAN RANKED FACULTY PERFORMANCE REQUIREMENTS
ACTIVITY CATEGORY (refer to definitions page) BASE INCENTIVE 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
The dashboard
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
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
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?)