Tampa General Hospital plans to donate more than $162 million to the University of South Florida next year as it continues to strengthen the groups' partnership in academic medicine.
The investment in USF Health is approximately $100 million more than Tampa General committed to more than five years ago, according to a media release. The additional funding will be provided to strengthen collaboration between the two groups, recruit medical professionals and advance research initiatives.
“Through the collaborative efforts of Tampa General Hospital and USF Health, we are transforming the healthcare landscape. Together we have expanded our world-class team, launched new cutting-edge initiatives, embraced innovative technologies and disrupted old care delivery models,” Tampa General Hospital president and CEO John Couris said in a statement. “We are setting the standard for the future of healthcare, and now is the time to further invest and integrate across our academic healthcare system to make an even more meaningful impact on patients and the healthcare industry across our state and country.”
The financial support is part of a revised partnership between the hospital and university that was approved by the Tampa General Hospital Board of Trustees on Aug. 6 and by the USF Board of Trustees' Governance Committee this week. The agreement goes into effect Oct. 1.
“The longstanding partnership between the University of South Florida and Tampa General Hospital has greatly benefited our students and the community, and today's approval will further advance our universities' collaboration,” University of South Florida President Leah Lo said in a statement. “At the heart of this agreement are three goals that will play a vital role in the future of our university and the community: providing world-class patient care, expanding the state's health care workforce and advancing research.”
Tampa General Hospital and USF Health collaborate on clinical care, education and research. The partnership was established more than 50 years ago and has evolved over time to improve patient care and prepare the next generation of healthcare professionals. Hundreds of USF Health medical students complete their clinical training at Tampa General Hospital each year, and 726 residents and fellows also train there. Tampa General Hospital funds programs that support 344 USF residents, according to the release. On average, about 200 USF nursing students and 315 USF Health students gain hands-on experience at the hospital each month.
“This agreement is evidence of what we have long known to be true: USF Health and Tampa General are stronger together than apart,” Dr. Charles J. Lockwood, executive vice president of USF Health and dean of the USF Health Morsani School of Medicine, said in a statement. “Our expanded union will undoubtedly lead to advancements for both institutions, but more importantly, it will also benefit our patients and the community at large by promoting quality health care.”
