McLEAN IN THE NEWS
Partners Research Revenue Report Shows Strong Growth at McLean
April 28th, 2005
The Partners Research Revenue Report for the month ending March, 2005, continues to reflect strong growth trends in McLean's research program. In McLean's fiscal year-to-date our total research revenue is $1.8 million ahead of budget, and represents a growth of 16.8 percent from this same time last year. Indirect revenue, particularly important to the hospital's budget, is running $608,000 ahead of budget and shows a growth of 23.5 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 15.5 percent and overhead density grew 24.8 percent during the same period.
McLean's success rate for grant applications, based on the total number submitted (88) vs. awarded (35) was 40 percent over the same time period, and is the highest of any Partners entity. McLean Hospital's research program now has $87.8 million in future committed funding, and (based on the 40 percent success rate for grant applications), $122 million in future committed and anticipated funding.