More than 90% of our revenue is derived clinically. To sustain, we have to significantly improve operations. That is the basis of the Financial Affordability and Sustainability Plan, which has been presented to various UF Health groups over the past few months.
We need to be sustainable to remain relevant in our market. We will tweak things a bit and be more mindful of our practices. A good payor mix and optimal clinical productivity are crucial to fund ongoing educational and research missions.
Despite constraints, we have performed market adjustments of faculty and staff salaries, as appropriate, while also funding the following:
- An incentive plan based on performance and available dollars
- Call and extra-duty pay for several departments
- New projects, including UF Health Wildlight, the UF Health Imaging Center – Baymeadows and multiple primary care practices
We want our physicians and advanced practice providers to have optimal clinical practices. These two groups generate revenue, and the rest of us will assist them in any way possible. For the current fiscal year through September, our practice performed ahead of budget, despite hurricane-related practice closures.
We are at a special place. We touch many lives in a meaningful way and patients are grateful for the work we do. We deliver high-quality patient care, thanks to the hard work of our employees every day.