University and academic physician practice create strategic alignment.
The George Washington University and the GW Medical Faculty Associates (MFA), the clinical practice of GW physicians, have restructured their relationship effective Dec. 14. The MFA retains its status as a separate 501(C) 3 non-profit medical group, with the university exercising new rights of coordination and control.
The new structure will bring more stability to the medical enterprise by consolidating the MFA with the university’s stronger balance sheet. It also creates greater strategic alignment between the university and the MFA, allowing the entities to speak with one voice as they work together to grow and strengthen the university’s medical enterprise.
“I believe we cannot achieve our aspirations as a preeminent comprehensive global research university without a world-class medical school, and we can’t have a top medical school without a strong and thriving academic clinical practice. This new structure will help the university stabilize the MFA financially and more strategically align the clinical and academic missions,” said GW President Thomas LeBlanc.
The agreement allows the MFA to continue to operate as an independent entity, but the university acquires certain rights over the governance of the MFA, including appointment of board members, approval of the CEO, approval of the annual budget, approval of significant affiliations and business relationships and approval of amendments to the articles and bylaws.
The new structure will not change day-to-day clinical operations of the MFA or the duties and responsibilities of the clinical faculty. Physicians remain employees of the MFA, both organizations maintain their current corporate structures, and the MFA Board remains in place with substantial autonomy. The MFA’s core purpose of supporting the GW School of Medicine and Health Sciences' clinical, academic and research missions does not change.
GW Medical Faculty Associates is the largest academic physician practice in the metro D.C. area, with 800 physicians who provide comprehensive patient care in 51 medical and surgical specialties. As faculty members in the GW School of Medicine and Health Sciences, the GW MFA physicians serve as teachers and mentors for medical students, residents and researchers.