McLEAN IN THE NEWS
Partners Research Revenue Report Shows Continued Growth at McLean
August 31st, 2005
The Partners Research Revenue Report for the month ending July, 2005, continues to reflect strong growth trends in McLean's research program. Fiscal year-to-date, our total research revenue is $3.0 million ahead of budget, and represents a growth of 11 percent from this same time last year. Indirect revenue, particularly important to the hospital's budget, is running $965,000 ahead of budget ($109,000 for the month), and shows a growth of 15.4 percent from that collected by this time in the last fiscal year. Although no new research space has been added at McLean in the last twelve months, modified total direct cost revenue density grew 6.7 percent and overhead density grew 15.43 percent during the same period.
The report notes especially that "strong research growth continues at McLean Hospital, where indirect research revenue has increased approximately 15% from the prior year. Direct research revenue and indirect research revenue are over budget by $2.1 million and $0.96 million, respectively."