With four months until the school opens, UNLV President Len Jessup will request from the Board of Regents approval of the bylaws and operating agreement for the faculty practice plan, as well as a $19 million line of credit.
“It has to get passed,” said Barbara Atkinson, dean of the medical school. “I’ve been meeting with each of the regents separately, and I think I’ve had very favorable responses.”
The practice plan will allow students and residents to gain experience with patients under the supervision of a UNLV faculty physician.
The plan, if approved, will enable more than 100 teaching physicians and 300 support staff of the University of Nevada, Reno School of Medicine to begin working at UNLV by July 1.
Physicians will be compensated for the time they spend teaching, with 10 to 20 percent of their salary paid for by the state. The remainder will come from revenues on the clinical side.
“Anybody that starts up a new medical practice has to get credit, because they have those months where they send their bills out, but don’t get paid very fast,” Atkinson said. “And you have all of the expenses — all the leases, all the supplies and all the salaries.”
The business plan shows the school paying back the loan in five years, but Atkinson hopes to do it in four. The clinical side of the operation is expected to generate roughly $1 million in revenues every week, and about $80 million in its first year.
Atkinson said several banks have responded to the school’s request for a proposal.