Explanation of Finances

 Action Plans

  1. Establish SOM Financial Advisory Committee
    • All clinical chairs have membership on the FAC
    • Create 5 work groups: effort and productivity, compensation, funds flow model adjustments, principles of budgeting, and performance review
    • Conduct detailed review the financial performance of each department and the group practice around all missions (clinical, research, education, administration)
  2. Dean Wilkes and Dr. Ghaemmaghami, Senior Associate Dean of Clinical Affairs, attend departmental meetings to discuss finances
  3. Present consolidated SOM and UPG financial statements at monthly department administrators meeting by SOM Controller and UPG Director of Finance
  4. Present Health System Financials at monthly administrators meeting by Health System Chief Accounting Officer
  5. Hosted financial learning sessions for department chairs.
  6. Additional “explanation of finances” actions planned including the creation of financial training for department chairs and division chiefs with the SOM COO and Controller.