It will come as no surprise that UI Hospitals & Clinics continues to be very busy as our patient volumes grow, which has been beneficial financially due to economies of scale, greater efficiencies, and the hard work of our health care providers and staff. The increased margin provides us with an opportunity to invest not only in our people but also to fund new capital for renovations and building, new technology, and research and education projects.
In consultation with UI Health Care leadership strategic investment committee, approximately $9.6 million from the hospital system margin will be provided for the following projects in research and education this FY2020 year, and at least $42.9 million more in the next four years (FY2021-2024).
The majority of this funding is for existing faculty with the intention to fund projects that will provide preliminary data leading to funded NIH grant applications and data for externally peer reviewed publications in research, education, and clinical quality. Part of this funding, along with increased philanthropy, will be used for scholarships so that we can more effectively compete for the best students and lower student debt.
Below is a summary of the areas that will be funded with announcements to be forthcoming soon for faculty to apply for funding for these projects.