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Economic Issues for Mentors: preparing for
economic success at UCSF
Mandana Khalili, MDModified slides courtesy of
James Kahn MD
10,000 foot view
The University is not empowered to “look-out” for faculty.
Faculty must look out for themselves Research administration could use help and some
understanding
Goals Why it is important to read fiscal balance sheets How to identify who is responsible for your accounts Creating good working relationships with persons who
are responsible for your contracts, subcontracts, expenditures
How to save money for the future What happens if you run out of money? Effective and successful delegation Establish grounds rules and culture for fiscal health Understanding how to diversify your funding
“Financial Issues”
The “University” is Generous, but not the “Deep Pockets”
Industry (or other sources of extramural support) is a Partner and is Willing to Cover Its Share of Costs
Budgeting and Financial Management Responsibilities Belong to the PIDon’t Make Assumptions or Minimize
Legitimate Costs
How to repay debt from training?
NIH Loan Repayment Program • Clinical Research • Pediatric Research • Health Disparities Research • Clinical Research: persons from disadvantaged backgrounds • Contraception and Infertility Research
Repay qualified educational debt up to $35,000 per year;
• Reimburse Federal and state taxes • Repay qualified educational debt after completion of
the two-year commitment through competitive renewals
Each year >1,600 researchers are funded. http://www.lrp.nih.gov/pdf/NIH_flyer.pdf
A Gift can keep giving Gift: a voluntary, irrevocable transfer of something
of value without consideration at the time of transfer or any time in the future. Gifts are not subject to Regents of the University of California overhead charges.
Private grant: an award to UCSF in response to a proposal that specifies reports on expenditures, guidelines for audits, consideration for the grantor, testing or evaluating, and/or satisfying specific conditions or requirements for a specified period of performance. These are subject to overhead.
Currently, the "Gift Fee" is 4% upon receipt of cash and a "Spending Fee" of 1% upon expenditure for donor-intended purpose.
http://policies.ucsf.edu/250/25010.htm
Clinical Research Realities
Clinical Research has Become More Complex
As PI, You Must Know the “Rules” Clinical Research is Costly and
Complex Significant Implications of Clinical Trials on
Patient Care Coordination and Integration with “Routine”
Clinical Care Understanding of Protocol Requirements,
Resources High “Costs” of Clinical Services
Identify UCSF and Other Resources and Take Advantage of Them
“Financial Issues”
Define Investigational Activities
Differentiate them from Routine Clinical
Care
Identify Anticipated Costs of the Trial
Understand Who Will Pay for Each
Component of the Trial (or Sequelae) Know the Payor Mix of the Study Population
“Budgeting” Direct Costs
Direct Investigational Costs Associated Supplies and Materials Personnel, including Investigators “Other” Anticipated and
Unanticipated Costs Follow-up Care Management of Complications Prolonged Hospitalization
Indirect Costs (Currently 26%)
Actions that Lead to False Claims Charging for items provided for
free by the sponsor
Billing for non-covered services
Attesting that the trial is in compliance with all regulations when it is not
Minimizing Your RisksMaximizing Your Opportunities
Address Critical IssuesClinical Trials BudgetingCoordination of CareFee for Non-Study ResourcesValidation of All Trial-Related
Services/Costs Standards of Care Trial Associated Costs “Hidden” Costs Understand Billing Expectations