A new model
Every dollar in state appropriations that comes into the Pennington Biomedical Research Center is leveraged to equal $3 in self-generated funds. As federal research dollars have dwindled, however, Pennington is rethinking the way it does business. Here are some of the ideas the center is developing as it looks for other ways to support itself.
LSU Health Sciences Center Specialty Clinic
Clinicians from the New Orleans LSU Health Sciences Center would provide specialty patient care in Pennington's new clinic building. This project is in the development stage.
Estimated first-year revenue: $90,000
Earl K. Long Outpatient Clinical Laboratory
EKL would move its outpatient clinical lab work to Pennington's clinical chemistry lab. This project is in the development stage.
Estimated first-year revenue: $500,000
Ten medical interns could be housed in Pennington's residence facilities. This plan is in the development stage.
Estimated first-year revenue: $96,000
Pennington is seeking a federal grant to create a statewide network of satellite clinical and research sites across Louisiana in a partnership that would involve the health science centers in New Orleans and Shreveport as well as other community entities.
Estimated first-year revenue: This plan has not yet developed to the point that revenue projections are possible.
Pennington and the LSU Health Sciences Center in New Orleans are exploring the possibility of opening a medical school site on the Pennington campus that would house up to 120 first- and second-year medical students and create a joint M.D./Ph.D. program in collaboration with the LSU A&M campus. Startup costs for the program would be around $10 million, with annual operating expenses in the $7 million range.
Estimated first-year revenue: Revenue projections have not yet been
finalized for this plan.
Biomedical Imaging Center
Pennington is working aggressively to locate and exploit new business plans and sources of revenue for the new facility. Several potential tenants, partnerships and collaborations are in the early stages of development.
Estimated first-year revenue: No revenue projections are available.
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