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Higher education currently faces a number of challenging and vexing issues. This list represents a consensus of issues we in higher ed are all dealing with nationwide:Accountability for student learning and outcomes: This means focusing on what happens as a student progresses through our institutions. Access and student success: This refers to the ability of students to aspire to community college or to a four-year institutionThe price of tuition: Are students able to see the value of their investment? BusinessWeekrecently did an article about the “lost generation:” can students get jobs after they’ve made the investment, along with their parents? Certainly our state is not unique in its fiscal crisis (may elaborate here).Student aid policies, the ability to fund and provide financial support, aligning the P-20 education system to be sure the pathway is clear for students who are starting down that track. E-learning: We know students expect to have affordable access courses, and that we need to have flexible approaches to teaching and learning… Diversity, including and significant national demographic shifts, along with competition from for-profit institutions, are also major issues.
There are some Missouri-specific issues, as well. We did a survey last year about Missourians’ attitudes about higher education, and we found that it’s not clear to all Missourians—less than 50 percent—the value that’s delivered by higher education…it is critical that we communicate to Missourian—especially students—the importance of higher education. The need for us to be even more engaged with community colleges is greater than ever. We have an opportunity to take advantage, along with the community colleges, of the tremendous federal funding that will be available to them to improve access and affordability for students. The state economy is lagging behind our national recovery. This is not a criticism, but it is a way of differentiating the Wall Street recovery, which thankfully is occurring, versus Main Street recovery, which has not occurred yet...Capital and funding mechanisms are also a challenge, particularly maintenance and repair, where we’ve been underfunded for several years and have some very critical issues…Finally, we in Missouri (and as a nation) are not producing enough STEM-related or health care professionals. Therefore, we are forced to be an “importer” of those professionals, whose areas of expertise will likely be key areas of growth both in the state and nationally.
The endowment fund rode the market volatility over the past year, starting out at just more than a billion at June 30, 2008, and dropping to $895 million in March and back to just more than a billion by the end of the fiscal year.At the year’s end, the total return was -17.5 percent, compared to the benchmark of -18.7 percent. For the first nine months of 2009, the balanced pool had a return of 16.3%. The below-benchmark performance was as a result of not re-balancing back into equities when the financial markets were extremely volatile. We performed well relative to the benchmark when that is accounted for. Our long-term 10-year returns relative to the benchmark are where we want to them to be, as we invest in perpetuity.
Last year we developed a list of accountability measures as a way to provide a “stewardship report” to our constituents. The results of this year-long benchmarking study will be due to me next month.
The debate over rising health care costs seems to be happening everywhere these days.We believe a robust network and public-partnerships are key to reducing costs and improving patient care.That is why the university is entering into a partnership with Cerner Corporation, a global leader in health information technology, to launch the Tiger Institute for Health Innovation at the UM health system.Cerner will invest their people, software, hardware and revenue-generating program support in the university with the mutual goal of improving the quality of patient care and cost-savings for Missourians. If the endeavor is successful, it has the potential to reduce health care costs by as much as $1 billion annually. They will work with us to accelerate our electronic medical records capabilities so we can achieve federal government-mandated IT compliance requirements that will make us eligible for stimulus funds. They will also work with us to expand our R&D collaborations, provide us with analytics tools to streamline our operations, and automate information flows across our health system and eventually statewide.Capabilities such as our new venture with Cerner and our telehealth network empower our doctors, nurses, health care professionals and students to provide the highest level of care at the least expense to our patients across the state, regardless of their ability to visit one of our hospitals or clinics in person. Of course, innovative IT capabilities are at the heart of our ability to provide this level of care. Components:IT works: Expediting existing projects for conclusion by end of yearMillennium Lighthouse: Evidence-based, data-driven approach to process management. Used by hospitals to improve care and keep costs down by preventing “never” events (or events that should never occur, like pressure ulcers, which Medicare and other payers will no longer cover the treatment of).Regional/Statewide network: The institute will connect providers to our health information network, delivering value to patients, providers and payers across the state.Living Lab: The Living Lab is dedicated to the discovery and creation of new health innovations.Products will be designed in the Living Lab and tested in the university’s hospitals and clinics. There will be a great potential for commercialization of these products (part of the expected $100M benefit of this partnership over the next 10 years).We anticipate that the technology developed in the Living Lab will not only improve the lives of Missourians, but the lives of people across the nation as other hospitals will want to adopt the new products created at the Tiger Institute.MU students, faculty work with Cerner engineers to develop new technologiesBenefits to university: Revenues from commercialization of productsStructure, resources provided by CernerBenefits to Cerner:Expertise of our facultyReal-world environment
As we think about the university of 2020, we must be willing to look at what we’ve done historically through a different lens, to re-examine how we can best carry out our mission in the future. This is not an exhaustive list, but it’s intended to highlight those things we need to look at, whether it’s bachelor’s degree completion programs—we have a lot of “stranded” students out there who we need to re-engage in learning process.This includes e-learning and hybrid classroom offerings. We know today’s students don’t just “plug in” 24 hours a day, they plug in 28 hours a day. They are “multitaskers.” We must also ensure clearer pathways from high school and community college credit to university credits. We will also examine the idea of 3-year programs and “no-frills” degrees, as well as year-round cycles, as we strive to be even more affordable and accessible. Evenings, weekends and the summers shouldn’t be viewed as “different”—our approach must be flexible to keep up with student needs and demands. So, this is not an exhaustive list, but a starting point as we begin to deal with these upcoming challenges to higher education we will face as a state and as a nation.
Missouri 100 Gary Forsee
Opportunities and Challenges in the Coming Months<br />The Missouri 100 Annual Meeting<br />Gary D. Forsee, UM System President<br />Saturday, November 9, 2009<br />
Higher Education Issues<br />Accountability for student learning (e.g., outcomes)<br />Access and student success<br />Price of tuition<br />Budgets and funding (states’ fiscal crisis)<br />Student aid policy<br />Aligning the P-20 education system<br />Tax policies, benefits<br />e-learning<br />Diversity<br />Competition from for-profit institutions<br />Sources: Association of Governing Boards of Universities and Colleges; Association of Public Land-Grant Universities; Institute of Government and Public Affairs; National Education Association; American Association of State Colleges and Universities; JBL Associates; James Duderstadt<br />
Missouri-Specific Challenges<br />Missourians’ attitudes about support for higher education (2008 survey)<br />Dramatic funding and enrollment growth at community colleges<br />State economy lagging behind national recovery?<br />No capital or M&R funding mechanisms<br />Not ‘producing’ enough STEM or health care professionals<br />
10-Year Profile for UM System<br />Dramatic enrollment increase<br />Maintain selective admissions standards <br />Outcomes (e.g., graduation rates, research grants) show improvements<br />Requirement for significant ‘productivity’ increase<br />Decline in state support offset by shift of burden to tuition<br />
Budget & Upcoming Legislative Session<br />2010 use of ~$50M in federal stimulus to keep operating budget flat to ’09 levels<br />Tuition held flat<br />Cost-reduction measures in place<br />Real savings estimated at $64M<br />Cuts to programs ‘outside of core’<br />MOREnet: $3M cut<br />Hospitals and clinics: $3.1M cut<br />State Historical Society: $364K cut<br />Telehealth: $203K cut<br />Missouri Institute of Mental Health: $413K cut<br />Missouri Kidney Program: $926K cut<br />
Budget & Upcoming Legislative Session (continued)<br />Current revenue through September off 11% to budget<br />Will adequate stimulus dollars be available in 2011?<br />What will final fiscal 2010 revenue be?<br />For planning purposes, assuming $25M of stimulus (~ half 2010 level) plus 5% revenue decline—a decline of 10% or greater <br />
5 Key Priorities<br />Focus on “outside-in”<br />Ensure the P-20 pipeline is strong, seamless<br />Audit accountability and measurement plans<br />Grow revenue derived from tech transfer <br />Deploy shared service center concept across four campuses, extend offer to higher education colleagues<br />
Accountability Measures<br />Highlights strategic goals in four key mission-related areas<br />Goals for resources, communication and accountability<br />Accountability measures benchmarked against peer institutions particular to each campus<br />Results of benchmarking study nearly complete<br />
Tiger Institute for Health Innovation<br />Recently announced collaboration with Cerner Corp. to integrate electronic patient health records to improve patient care and reduce costs<br />Main components<br />IT works<br />Millennium Lighthouse<br />Regional/Statewide network<br />Living lab<br />
Significant National Discussion Underway…<br />Newsweek, October 26, 2009<br />BusinessWeek, October 19, 2009<br />
Leading the Change Through Challenging, Uncertain Times<br />Work across UM system and with key stakeholders<br />to evaluate and examine:<br />Bachelor’s degree completion programs<br />Investment by all in e-learning <br />Investment in hybrid classrooms (classrooms, distance, e-learning)<br />Encourage articulation agreements with high schools and community colleges<br />3-year, no-frills degrees<br />Year-round cycles<br />‘Fix’ hours for bachelor’s degrees<br />