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University of Alabama Health Services Foundation, P.C. A brief glimpse inside a Faculty Practice Plan...
Not a Typical MD Practice • Tax Exempt 501-C-3 Organization • A bona fide corporation • “Shareholder value and earnings” not in annual distributions but for • program development / expansion • compensation / expenses for operation • retention for business downturns • MDs are “fully employed / only here”
A Brief View of our History • Founded in 1973 • As a physician-led company • Superior Patient Care • Group Practice in an Academic Environment • Establish Funds for Program Development • The era was ripe for such activities • Medical Practice Plans birthed out of “university anxieties”
The “Stages of our Growth” • 1970s - a benefit plan and tool to bill and collect professional revenue • 1980s - organizational development • University Affiliation • Ambulatory Clinics • Complete Health Joint Venture HMO • 1990s - corporate style behavior • The Kirklin Clinic - $110 million investment • UAB Prime Care • Sale of Complete Health • UAB Health System
Board of Directors • Purpose • Develop major policy and strategy • Provide a balanced perspective to our goals • Recruit key executives and hold them accountable for success • Membership • 10 public members (“outside directors”) • 9 physician leaders (“internal directors”) • Executive leadership
Public Board Members Eddie Adair Cordova Ventures Dr. Neal Berte Birmingham Southern College Donald James Vulcan Materials Company Charles McCrary Alabama Power Company Charles Perry, Jr. Highland Associates Thomas Lowder Colonial Properties Trust Van Richey American Cast Iron Pipe Company Lee Styslinger, III Altec, Inc. Mimi Head Ram Tool and Supply Company Tim Brown TALA Professional Services
Executive Leadership • A uniquely balanced and important partnership of MD / business leadership • Corporate service functions • General Counsel, Finance, Human Resources, Treasury, Corporate Compliance, et al
UNIVERSITY OF ALABAMA HEALTH SERVICES FOUNDATION Corporate Services Clinical Services Managed byUAB Health System UAHSF Board of Directors UAB Health System Executive OfficersSergio Stagno, M.D.,PresidentReid F. JonesExecutive Vice President General Counsel ExecutiveDirectorHuman Resources Chief FinancialOfficer ManagementServicesOrganization SeniorVice PresidentTKC ChiefInformation Officer Director InsuranceRisk Management
Financial Overview Extremely strong Balance Sheet $408 cash and investments, $210 debt 2012B2011P2010A Net Patient Revenue $338 $321 $312 Total Revenue $424 $401 $389 $ in Millions 9
Total Payor Mix Blue Cross Blue Shield 34% Medicare 18% Medicaid 12% Commercial Insurance 4% Viva 11% Self Pay 6% Other 15%
General Endowment Fund • The Successful Failure • Over $100 million dollars • Research Initiatives • Creation and Implementation of the MSO • Faculty Recruitment
Scope of Services Portfolio • Offers services in 32 clinical specialties … primary and specialty care • Employs 920 physicians and 1,800 non-physician employees • 22nd largest employer in the State of Alabama
Service Locations • Have the “clinical franchise” for physician services at UA Hospital • Also provide services at other hospitals, in TKC, at selected regional clinics, and in “local offices” • The Kirklin Clinic Acton Road
The Kirklin Clinic Opened June 15, 1992 • 554,000 Square Feet • Clinic Encounters - 683,000 in 2007 • 699,000 in 2008 • 711,000 in 2009 • 709,000 in 2010 • 669,000 in 2011 *based on TKC Patient Encounter Report