Feb. 10, 2017
CHARLESTON, SC – The Medical University of South Carolina (MUSC) Board of Trustees held its regular scheduled meeting and received reports on topics that included its legislative update, financial status, philanthropic gifts, research advances, Diversity and Inclusion Program review, and plans for expansion of patient care services. The MUSC-MUHA (Medical University Hospital Authority) Board of Trustees serves as separate bodies to govern the university and hospital, holding two days of committee and board meetings six times a year.
“The health care landscape continues to be extremely complex with a number of moving parts,” said David J. Cole, M.D., FACS, MUSC president. “Naturally, a focal point is the replace and repeal discussion at the federal level and what that actually translates into at the state level. The question becomes how do we have a voice, build coalitions and take ownership of whatever form and structure comes from the revised Affordable Care Act?
“Decisions made at the national level will affect our finances and our institution’s ability to provide care,” Cole stated. “We understand the potential impact of these changes on our state and organization. That is why we are joining with other major health care provider systems to coalesce, lay groundwork, and express a willingness to work together. To my mind, we have an opportunity to forge a better path and open a constructive, more positive dialogue about health care access. Even in light of all the unknown factors, we are committed to being prepared and poised to act at the appropriate time.”
At the close of December, the middle of its fiscal year, the MUSC enterprise reported a roughly 10 percent rise in gross revenue and an approximately 2 percent increase in net revenue year-over-year. Strong patient volumes and more than $42 million in philanthropic gifts contributed to the positive results. A significant portion of the charitable giving has been directed toward the MUSC Shawn Jenkins Children’s Hospital and Pearl Tourville Women’s Pavilion. When it opens in 2019, the new facility, estimated at a cost of $385 million, will transform care for mothers, children and families throughout the region. Currently, the construction project is about two months ahead of schedule.
“Diversity and local participation on the new children’s hospital project is tracking really nicely,” said Matthew J. Wain, MUSC Health chief operations officer. “We anticipate 30 percent SWMBE [small, women and minority-owned business enterprise] participation, and as far as minority-owned business enterprises, we are on target to spend in the $12 million range for phase one and two of construction.”
MUSC plans to spend about $52 million with SWMBEs during the construction of the Shawn Jenkins Children’s Hospital and Pearl Tourville Women’s Pavilion over the course of the entire project. Another MUSC project under development is a medical office building in North Charleston, designed to increase access and expand much-needed patient care services to the community. The board gave approval to proceed with due diligence and negotiation for the approximately $40 million construction project. The city of North Charleston is donating land for the new facility.
Kathleen Brady, M.D., Ph.D., vice president for Research, reported that MUSC’s mid-year research funding is slightly ahead of the record-breaking pace set in fiscal year 2016, when MUSC received more than $259 million in grant support from outside (extramural) sources. So far this year, MUSC is a bit higher in NIH and federal funding awarded, and a little lower in corporate funding received. Five MUSC colleges have moved up significantly in national rankings for NIH funding:
- College of Dental Medicine – ranks 26th among 46 dental colleges;
- College of Health Professions -- ranks 4th in the nation, up from number 46 in 2012;
- College of Medicine – increased its NIH funding by 22 percent and moved to 42nd in the nation, up from 52nd ten years ago;
- College of Nursing – ranks 18th out of 72 nursing colleges;
- College of Pharmacy – ranks 45th out of 78 pharmacy schools.
In recognition of his almost 40 years of service, the MUSC/MUHA Board unanimously voted to name Stanley Baker, M.D., a trustee emeritus, effectively serving as an ambassador for the enterprise. Appointed to the board in April 1977, Baker retired from the board on January 2. He celebrated his 90th birthday in December.
In other business, the board voted unanimously to approve three recommendations concerning its travel and expenses policies. The recommendations were made by the review council created by the board in September to assess board spending policies in order to align with best practices. On January 30, the review council accepted the three recommendations from a report issued by the State Inspector General (SIG). The board voted for:
- Revision of the MUSC Board Policy on Travel to eliminate its policy allowing daily meal reimbursements for spouses or significant others;
- Revision of the MUSC Board Policy on Travel to authorize payment not to exceed $100/day for meals and subsistence to board members while in attendance at Board of Trustees meetings or business; and
- That we enter into a Memorandum of Understanding with appropriate affiliates to reflect the mechanism of payment for Board travel expenses.
Founded in 1824 in Charleston, The Medical University of South Carolina is the oldest medical school in the South. Today, MUSC continues the tradition of excellence in education, research, and patient care. MUSC educates and trains more than 3,000 students and 700 residents in six colleges (Dental Medicine, Graduate Studies, Health Professions, Medicine, Nursing, and Pharmacy), and has nearly 14,000 employees, including approximately 1,500 faculty members. As the largest non-federal employer in Charleston, the university and its affiliates have collective annual budgets in excess of $2.4 billion, with an annual economic impact of more than $3.8 billion and annual research funding in excess of $250 million. MUSC operates a 700-bed medical center, which includes a nationally recognized Children's Hospital, the Ashley River Tower (cardiovascular, digestive disease, and surgical oncology), Hollings Cancer Center (a National Cancer Institute-designated center), Level I Trauma Center, Institute of Psychiatry, and the state’s only transplant center. In 2017, for the third consecutive year, U.S. News & World Report named MUSC Health the number one hospital in South Carolina. For more information on academic programs or clinical services, visit musc.edu. For more information on hospital patient services, visit MUSChealth.org.