MCV Associated Physicians

“The selection process for the governing body of mcv physicians is as follows: the chairs of each school of medicine clinical department shall recommend appointment of the four departmental chair directors to the sole corporate member, vcuhs. The full-time faculty of the school of medicine shall recommend to the corporate member appointment of the four faculty directors who are not departmental chairs. The president and executive director of the corporation shall recommend three independent directors to the board of directors; the board, after consideration of the recommendations from the president and executive director, shall recommend three independent directors to the corporate member. All recommendations for appointed directors shall be submitted to the corporate member by the president of the corporation, following notification of the recommendations to the ceo/vcuhs and the dean.”

“After consideration of the recommendations, the corporate member shall appoint directors to the board, for terms of service consistent with the provisions of these bylaws. Corporate member shall appoint directors to the board, for terms of service consistent with the provisions of these bylaws.”

“Mcv physicians board of directors decisions are subject to approval of the corporate member, virginia commonwealth university health system authority.”

“The financial information is provided to the independent accountant by the virginia commonwealth university health system's finance office. The independent accountant prepares form 990 and returns the completed 990 to the finance office for review. The finance office reviews the form 990 to ensure it is complete and accurate. The finance office reviews the form 990 with the executive director and director of finance. Upon completing the review with the leadership, the governing body of mcv physicians is provided with a copy of form 990 before it is filed with the irs.”

“Vcu health system policy 2104.01 - mcvap must abide by the conflicts of interest policy of vcu health system. Also, vcu health system is required to participate in the commonwealth's statement of economic interest process. Vcu health system's participation in this process is mandated by the enabling legislation for the health system. Additionally, employees are encouraged to contact the compliance helpline if they are aware of any violations of health system policy or have any compliance concerns. All concerns reported via this venue are investigated and appropriate remediation is implemented. When a board member has a conflict, the board member is prohibited from participating in the governing body's deliberations and decisions related to the conflicting transaction.”

“For fiscal year ending june 30, 2020 the compensation (salaries and incentives) for the president and the executive director of mcv physicians is determined by the ceo of the vcu health system (vcuhs). This is consistent with the requirements established in the bylaws of vcuhs. The ceo of vcuhs uses a third party compensation consulting firm to conduct a market study to determine market position. The ceo of vcuhs may also conduct a 360 degree evaluation of all senior level administrators. These data elements in conjunction with a review of individual performance and the attainment of goals for the year, are the basis for compensation recommendations. The ceo of vcuhs then meets with the compensation committee of the vcuhs board of directors to discuss the matter and present recommendations and receive final approval. The compensation committee may discuss these recommendations in executive session of the vcuhs board of directors. The compensation (salaries and incentives) for the key employees is determined by the dean of the school of medicine.”

“The governing documents, conflict of interest policy and financial statements for mcv physicians are made available to the public upon request.”

“The organization functions as the group practice plan for those physicians and healthcare professionals who have faculty appointments in vcu school of medicine supporting medical teaching and the needs of the indigent population.”

“During fy2020, the vcu health system was significantly impacted by the covid pandemic. Each entity within the health system experienced financial impacts. In march 2020, cms and the governor of virginia issued emergency guidance to minimize inpatient and outpatient volumes within hospitals. The guidance continued through the end of april, 2020 and as a result, each entity within the vcu health system experienced declines in revenue. Concurrently, clinical areas also experienced an increase in expenses. Mcvp estimated revenue losses due to the pandemic for fy20 were $22.5m with $72k of additional expenses. A portion of the financial impact was offset by cares act provider relief funds received in the amount of $7.1m.”

“Mcv associated physicians d/b/a mcv physicians (mcvp) is organized and operated exclusively for the benefit of virginia commonwealth university (vcu), a tax-exempt organization as described under internal revenue code (irc) section 170(c)(1). On july 1, 2000, mcvp became part of the vcu health system along with the mcv hospital authority. Mcvp was formed and operated as an internal revenue code 509(a)(3) supporting organization of the medical college of virginia (mcv)/virginia commonwealth university (vcu), a state medical school and university. Mcvp also serves the only burn center and full range cancer center in the area. In support of the medical school, mcvp provides essential services to and works closely with the vcu health system - mcv hospital; a division of mcv/vcu and affiliated ambulatory care centers. The vcu health system - mcv hospital operated one of the few remaining hospital facilities in the highly indigent inner-city area of richmond, va as well as surrounding community locations. It serves as one of the busiest level 1 trauma centers on the east coast. More than 50% of the patients served are from the city of richmond and represent a highly indigent population. In general, an indigent patient results in a much more expensive patient to treat for several reasons: 1) the patient has not requested or received preventive medicine, and 2) the patient is generally sicker because the preventive medicine was not affordable. In fact, the majority of patients use the vcu health system emergency center as their first stop for primary care. The association also has the responsibility for the administration and management of all ambulatory care facilities. Each ambulatory center is consolidated under 1 physician and 1 non-physician team.”

“This process has not changed from last year”