Next-Generation Funds Flow Models: Enhancing Academic Health System Alignment (Future of Academic Medicine Series)
Recognizing the essential interdependence of academic medicine’s patient care, education, and research missions, many CEOs, deans, and other executive leaders are increasingly focused on improving strategic and financial alignment across the academic health system (AHS) enterprise. Guided by a vision of shared risk/shared reward, these leaders seek a funds flow model that:
- Improves alignment across the enterprise;
- Substantiates clear decision-making and resourcing for each mission area; and
- Optimizes their institutional capacity for financial performance.
This report from the AAMC’s Future of Academic Medicine Series presents principles and guidelines for developing and implementing next-generation funds flow models.
Designed for executive leaders in academic medicine, including CEOs, deans, and others involved in developing and implementing an optimal funds model for an academic health system (AHS).
OVERVIEW AND BENEFITS
This report draws from a year-long funds flow learning collaborative jointly convened by the AAMC and Manatt Health, which included public and private AHS participants and contributors. In laying out guidelines and principles for next-generation funds flow models, the report focuses on several key attributes: enterprise-wide commitments; funds flow governance; strategic incentives, investments, and support (encompassing all three mission areas); and faculty compensation. The report also looks at legal considerations and guidelines for compensated services (e.g., medical directorships; GME program support; inpatient service support).
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