UFJP Operations
With more than 90% of revenue derived clinically, sustainability is key for the practice plan.
Leon L. Haley Jr., M.D., MHSA, our college dean and hospital CEO, has laid out a 2030 vision, which represents a major transformation from where we are today. While we chart a path to reach that point, it’s key to understand some of the financial dynamics from the past two years for our practice plan, University of Florida Jacksonville Physicians.
The receipt of Low Income Pool, or LIP, money from the state is a fundamental reason the practice plan is able to function. Follow this link to learn more about the LIP program.
Since Florida did not expand Medicaid under Affordable Care Act guidelines, money was appropriated to the medical school practice plans in Florida to manage the health care of uninsured Floridians. However, this is only a five-year program.
We received $17 million in LIP funding in fiscal year 2018 and $20.9 million in fiscal year 2019, with a tentative receipt of $19 million in fiscal year 2020. Because this was not expected, it gave us some financial wiggle room.
SUSTAINABILITY
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.
UF HEALTH WILDLIGHT
In late November, we cut the ribbon on our new medical office building at UF Health Wildlight in neighboring Nassau County.
The building, which opened Dec. 6, includes an urgent care center staffed by UF Health emergency medicine physicians and providers, family medicine, imaging, lab services, obstetrics and gynecology, pediatrics, psychiatry and, beginning in early January, adult and pediatric dentistry.
The next edition of Academic Matters will feature more information about Wildlight, as well as our practices at Crystal Springs, San Jose and Baymeadows.
UF Health leaders and others cut the ceremonial ribbon to celebrate the opening of the medical office building at UF Health Wildlight.
