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?)