Office of Development

Economic Recovery Plan and Downward Trend in COVID-19

Email sent on April 24, 2020

 

Dear Friends of Michigan Medicine,

As many of you heard earlier this week, the COVID-19 pandemic has had a dramatic impact on the finances of Michigan Medicine and the entire University of Michigan. I want you to know that we are addressing those challenges with a thoughtful plan that focuses on our core values and central missions.

In alignment with the broader U-M plan, we are moving forward with the following actions to reduce the impact of the pandemic this year and work toward a stronger, sustainable 2021. These challenges are also a reminder of why philanthropy is so vital to our mission, and we thank you for your support and partnership.

Michigan Medicine Economic Recovery Plan

  • Non-essential expense reduction

  • Capital project review and reprioritizing

  • Hiring freeze 

  • Salary freeze 

  • Executive compensation reduction

  • Additional actions to support expense reduction

My leadership team and I have worked diligently to ensure that the budget cuts will not affect our ability to provide the best care for patients in Michigan and beyond, to make significant research breakthroughs, and to educate the next generation of researchers and providers.

 

Flattening of the Curve, Research, and Philanthropy

I have some promising news to share as well: The curve of COVID-19 cases at Michigan Medicine continues to flatten, thanks to the hard work of providers and the social-distancing efforts of the general public. 

Thank you, our closest friends and partners, for your continued support through donations of food and PPE, as well as your generous donations to the COVID-19 Philanthropic Fund. In addition, donors can designate if they want their contribution to go to COVID-19 research. Our researchers are trying to find the underlying cause of COVID-19, learn how it can be treated, and understand how we might be able to prepare for a pandemic in the future. Just one example is our Center for Drug Repurposing, which is screening thousands of FDA-approved drugs to see what combination of medications might fight COVID-19. They are on the leading edge of this research nationally. Read more about COVID-19 research at Michigan Medicine and throughout the university. 

“Chance favors the prepared mind,” as the old saying goes. As such, we will continue to persevere in our fight against this pandemic and its long-term effects. I will also note that the saying comes from the legendary scientist Louis Pasteur, who had a great deal of success in fighting challenging diseases during his own time, and whose legacy reminds us that science can help us win the most daunting of battles.


With kind regards,
Marschall S. Runge, M.D., Ph.D.
Dean, University of Michigan Medical School 
Executive Vice President for Medical Affairs, U‑M 
CEO, Michigan Medicine