From the Desk of Dr. Andy
Andrew C. Agwunobi, MD, MBA, Chief Executive Officer, EVP for Health Affairs, UConn Health
Dear Colleagues,
I want to start by thanking each one of you for making UConn Health such a special place to train, teach, provide care, receive care and perform research. This week, I had the privilege of speaking at our Health Sciences and Medical Development fundraising team's retreat in the Outpatient Pavilion. This group of fundraising professionals is a key part of the UConn Foundation team. As the team continues to grow, this was a valuable opportunity to provide greater insight into UConn Health, our strategic vision, and fundraising priorities.
I enjoyed speaking with this group, as they play an essential role in sharing our story with current and prospective donors. Each time I reflect on and communicate the story of UConn Health's past, present and future, I am reminded of how far we have come and the exciting opportunities that lie ahead. Our progress is a testament to the hard work, dedication, and commitment of each of you. Your efforts continue to drive our success and advance our mission every day.
At the retreat, I started by explaining what we are as an organization. You'll notice from the graphic below that we've evolved from when we used to only be a public entity.
I also presented a snapshot of the makeup of our public entity which might serve as a refresher for some readers:
As you can see from the graphic above, our total revenues are $2.1 billion, which represents amazing growth over the last decade. What you may not be aware of is that the state portion of our revenues is 8% or $144 million. The rest of the $2.1 billion represents internally generated revenues, with the majority being from patient care. As you can see from the graphic below we internally allocate most of that state revenue to our schools and research with only $10 million of the $144 million going to our clinical enterprise.
You may recall that we have a strategy to eliminate the reliance of the clinical enterprise on state operational support, and we are making headway, as you can see from the chart below, in which the $10 million to the clinical enterprise will become $5 million next year. One important caveat is that we are requesting funding to cover wage increases negotiated at the state level.
