Spring Health Sciences Administrative Updates
May 5, 2017
Dear Loyola Health Sciences Community,
As we prepare for commencement and the end of the academic year, I want to take a moment to reflect on all our achievements this past year and thank you all again for your commitment to Loyola.
Over the past several months, we celebrated our Stritch students at Match Day, welcomed more than 200 participants to the annual Ruth K. Palmer Symposium, and saw our biomedical graduate students shine in the 3-Minute Thesis competition.
I hope you share my enthusiasm for the progress we have collectively made, much of which has been noted in some of the communications sent this spring and discussed at our town hall meeting last week. The highlights are recapped below.
Continue to keep in mind that any income generated by the division is reinvested here. Our fiscal year forecast ($4.5M surplus) is better than budget ($1M surplus) because of salary savings related to numerous vacant positions and the early repayment of internal debt from the Cuneo Center building. We expect next year’s budget to level out and be back at a $1.9M surplus. Like the rest of the University, we are focused on a multi-year financial planning approach and we seek a healthy surplus each year (goal of $5M) to invest in faculty research and new programs. We also have an annual investment of $29.5M in research at the Health Sciences Division. While we are well positioned, we need to carefully review our finances and operations and innovate through new academic programming and compelling research activities.
New Innovative Programs Meet Market Needs
As referenced above, growing academic programs that demonstrate strong market demand and minimizing upfront investments is critical to our division’s 5-year financial plan. Several faculty have come forward with ideas – thank you and please keep sharing your thoughts! So far plans are underway for the following: Online-Hybrid Accelerated Baccalaureate of Science in Nursing, Masters in Psychiatric–Mental Health, Masters in Clinical Lab Sciences, and Masters in Cellular and Molecular Oncology.
Advancement Leadership Additions
Growing our advancement initiatives and resources is a priority across the entire University. The team recently expanded with the addition of Damon Cates, EdD, new senior vice president for advancement, and Amy Day, Associate Vice President of Development for the Health Sciences Division and Vice President, Development for the Loyola University Health System. They will both be helpful resources for fundraising on this campus as our research and educational ventures continue to grow.
New Research Initiatives
Two new and exciting research initiatives have been kicked off including the Trinity Clinical Research Database, which gives us access to data at 42 Trinity Health institutions, 8-10 million patients, and more than 40 million encounters. We are also happy to announce the Center for Health Outcomes and Informatics Research. The center will educate and engage clinical faculty, health care professionals, resident physicians, and students in the fundamentals of health outcomes research and data-driven health care delivery in order to improve outcomes and health equity. The recruitment of a director is currently underway.
Finally, I would like to give special recognition and thanks to Terry R. Light, MD, for all his work this spring as our interim dean of the Stritch School of Medicine. His leadership during this transition has been truly invaluable.
You may also see Steve A. N. Goldstein, MD, PhD, our new Stritch School of Medicine dean around campus already. He will take the next few weeks to settle into his new research and office space and will take on his full-time duties on May 22 after Commencement.
I hope you will join me in thanking Dr. Light, welcoming Dr. Goldstein, and celebrating our graduating students this May.
Margaret Faut Callahan, CRNA, PhD, FNAP, FAAN
Provost, Health Sciences Division