It's no news to anyone that institutions of higher learning and academic medical centers are coming under increasing financial pressure. Costs continue to rise and revenue sources, particularly state support for higher education and third-party reimbursement for clinical care, are evaporating. A recent 2002 report of the Association of American Medical Colleges noted that 27% of public schools and 24% of private schools reported a negative change in practice plan revenue from fiscal year 2001. A bill was recently proposed in Colorado that would eliminate state support for higher education. New York and Virginia are considering charter status for state schools. As a result, using clinical revenues and state tax dollars to support health sciences education and research is no longer a reliable, sustainable strategy for academic medical centers. We need a better way to fuel the tripartite mission of clinical care, research, and education and keep American health care research and development in its leadership position.
Meyers AD. Bioentrepreneurship: An Emerging Paradigm of Leadership in Otolaryngology. Arch Otolaryngol Head Neck Surg. 2004;130(8):1001-1002. doi:10.1001/archotol.130.8.1001-b