The Faculty Compensation and Incentive Plan (FCIP) seeks to progressively reward high-performing faculty members across all missions, while linking accountability, covering appropriate overhead and addressing productivity outliers. After 18-plus months within the program and careful examination of the data and results, I am pleased to announce an initiative currently taking place that seeks to further strengthen the guiding principles: transparency and positive correlation of productivity with compensation.
For the FY 2015 plan year, I am proud to share that the Academic Enterprise paid out nearly $13 million to its more than 760 eligible members of the FCIP. Compared to the same time period in FY 2014, the third and fourth quarters of FY 2015 saw an 8.2% increase in productivity, which translated to a 10% growth in clinical incentive payouts. In an environment where NIH funding is declining, we have maintained funding and, as a result, maintained incentives. Overall, the actual teaching activities exceeded the projected activities for FY 2015.
It is noteworthy that we have made significant efforts to maintain a healthy incentive plan despite the current challenging climate for academic health centers, while market forces have pushed integrated systems to reduce or eliminate similar plans altogether.
As we embark on the current initiative to strengthen the FCIP and ensure that the plan is forward-thinking and moving in stride with upcoming changes in health care payment reform, I encourage everyone to keep in mind all UTMB’s missions, which, combined, make a vibrant and integrated institution. This mindset will help ensure collaboration as we seek input and feedback from faculty members for version 2.0, and make the FCIP more inclusive and effective.
I would like to thank the faculty members, administrators and staff not only for their tireless efforts, patience and suggestions, but also the spirit of teamwork present during recent FCIP forums.