Innovative Revenue Streams for Academic Medical Centers—Reaching Beyond Patient Care: Part Two
This Briefing is brought to you by AHLA’s Academic Medical Centers and Teaching Hospitals Practice Group.
- July 25, 2022
- Marty Brown , PYA, PC
- Marcy Cent , PYA, PC
- Ericka Beane , PYA, PC
- Lawrence W. Vernaglia , Foley & Lardner LLP
As shared in part one of this article series, Academic Medical Centers (AMCs) are commonly known for providing communities comprehensive patient care, extensive research programs, and education for our future health care providers. Yet, continuously increasing costs for such programs are causing AMCs to seek revenue streams outside of their “core services” to generate additional funds and ensure continued success of their programs and charitable missions. The authors conducted a series of structured interviews with clinical and administrative leaders at nationally recognized AMCs in different stages of pursuing innovative revenue opportunities to learn about their successes and reflect on the business and legal challenges of each initiative. In addition to the three opportunities highlighted in part one—ancillary services, branding and affiliations, and consulting services—this article highlights three other opportunities—real estate and energy monetization; drugs, devices, and data; and private equity.
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