Explanation of Finances
- 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)
- Dean Wilkes and Dr. Ghaemmaghami, Senior Associate Dean of Clinical Affairs, attend departmental meetings to discuss finances
- Present consolidated SOM and UPG financial statements at monthly department administrators meeting by SOM Controller and UPG Director of Finance
- Present Health System Financials at monthly administrators meeting by Health System Chief Accounting Officer
- Hosted financial learning sessions for department chairs.
- Additional “explanation of finances” actions planned including the creation of financial training for department chairs and division chiefs with the SOM COO and Controller.