In today’s highly competitive healthcare industry, success is measured not only by an institution’s past, but also by how it envisions its future. To remain an institutional leader, we need an ambitious agenda that addresses the long-term issues that confront modern healthcare. We need an outstanding faculty and the resources to recruit new leaders who can develop bold research and clinical programs. Finally, we need to maintain and strengthen the spirit of dedication, determination, and compassion that is integral to the work we do as medical professionals.

At NYU Medical Center, we are fortunate to have all of these key ingredients for success. Thanks to the hard work and dedication of our faculty, trustees, staff, and students, we have built an institutional momentum that I believe will ensure our leadership for many years to come. For example, last year, the School of Medicine and the Hospitals Center reported balanced budgets, growing faculty group practice revenues, and—for the eleventh consecutive year—increased research grant funding. We are also making excellent progress on reaching the philanthropic goals of our $750 million capital campaign.

All around campus, our vision is taking shape. We’ve broken ground on the Smilow Research Building and the Clinical Center of the NYU Cancer Institute. We’re nearing completion of the Blechman Cardiac & Vascular Center. We forged a landmark agreement with Siemens Medical Solutions, USA, that will bring us world-class clinical and investigative imaging equipment. We are embarking on improvements of the Medical Center’s infrastructure, including renovation of labs in the Medical Sciences Building and the long overdue refurbishment of a number of our elevators in the Hospitals and School.

Our longstanding partnership with Bellevue Hospital is a critical part of the School of Medicine’s future, and we take great pride in the patient care, research, and education activities that our faculty conduct there. We also recognize the impact that city and state budget cuts will have on Bellevue, and we intend to work closely with our colleagues at this extraordinary hospital to navigate through these challenging times.

We are exploring a formal merger with the Hospital for Joint Diseases (HJD) to create an NYU Musculoskeletal Center of Excellence. Integrating HJD into our Hospitals Center will allow us to capitalize on the distinguished reputations of HJD and the Rusk Institute. Over the last four years, we have recruited 147 faculty members, and we expect other major recruitments for our clinical and research programs.

This year, our Hospitals will go through the accreditation process by several key organizations. The Rusk Institute was surveyed successfully by the Commission on Accreditation of Rehabilitation Facilities (CARF) in March, and both Tisch Hospital and the Rusk Institute will be reviewed by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO) in November. In addition, our nursing administration staff is leading our efforts to obtain the “Magnet Recognition Award,” a distinction that would enhance our ability to recruit and retain outstanding nurses.

The School has applied for renewal of the General Clinical Research Center grant, a five-year award from NIH that provides basic infrastructure support for clinical research.

In April we marked the one-year anniversary of the Service Standards initiative. This program has been an effective way for us to strengthen the way we accomplish our mission.

During this next year, we will also need to recruit a new President of our Hospitals. Theresa A. Bischoff has announced that she will step down as President of NYU Hospitals before the end of this year. She has done a superb job of running our Hospitals. In the months ahead, we will all find ways to express our gratitude to Terry for her 20 years of distinguished service.

We have an exciting year ahead of us, and I look forward to working with all of you to turn our opportunities into realities. Despite our challenges, I have never felt more confident.