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AMNSY CALLS FOR STATE INVESTMENT IN “SMALL BUSINESS” MEDICAL SCHOOL LABS THAT ARE HUGE BOON TO ECONOMY

AMNSY CALLS FOR STATE INVESTMENT IN “SMALL BUSINESS” MEDICAL SCHOOL LABS THAT ARE HUGE BOON TO ECONOMY

The Associated Medical Schools of New York requests $50 million to support economic growth of the biomedical sector; NY’s medical schools will match funding 2:1

(New York, NY) – The Associated Medical Schools of New York calls on the state to invest $50 million in the new New York Fund For Innovation in Research and Scientific Talent (NY FIRST.)

This investment in research will support the creation of new laboratories at New York’s 16 medical schools—laboratories that are significant economic drivers. The $50 million state investment in research will be matched 2:1 by the medical schools, resulting in an overall investment of $150 million.

The $150 million research program will boost economic development and health advances by furthering drug discovery and accelerating commercialization of research. New York’s medical school laboratories are already generating intellectual property and numerous startup companies that boost local economies and create jobs.

“New York State’s medical schools have the potential to further contribute to the state economy and create thousands of additional good-paying jobs,” said Jo Wiederhorn, President of AMSNY. “Based on historical evidence, a $50 million investment from the state will result in a significant boon to the state economy.”

NY FIRST has clear potential to create and sustain thousands of high-skilled, high-wage jobs. AMSNY estimates that a $1 million investment by the state (matched 2:1 by the recipient medical school) would enable the creation of one world-class laboratory with approximately 8-10 employees. A $50 million annual investment by the state, then, would yield 4,000-5,000 direct jobs over 10 years. Wages for such jobs average $70,000 per year.

The precursor to NY FIRST (the NYSTAR Faculty Development Program) had an impressive 7:1 return on investment. From 2002 to 2009, a $36 million investment by New York State enabled the recruitment and retention of entrepreneurial scientific talent who, during that period, leveraged their awards into more than $250 million in additional federal grants and private philanthropy. This measurement does not include the value of intellectual property and startup/spinout companies those scientists developed, or return on investment between 2010 and today for the 80% of recruited researchers that remain in NY.

Startup and spinout companies born from medical school labs represent a significant economic driver with tremendous potential for growth. For example, in January, Dr. Lewis Cantley, a researcher based at Weill Cornell Medicine, launched Petra Pharma as a result of work done in his lab. Dr. Cantley is a serial entrepreneur recruited to Weill Cornell Medicine from Harvard in 2013. He has made breakthrough discoveries in cancer research and, while at Harvard, launched Agios Pharma, now valued at $2.4 billion. He estimates that his latest venture, which was launched with $48 million in Series A financing, will employ an additional 25 people by the end of 2016.

In addition to the substantial economic benefit, investment in NY FIRST would facilitate the development of, and access to, new cures by increasing the number of labs conducting groundbreaking research. New York medical schools have in the past contributed significantly to medical research. For example, research that led directly to the Human Papilloma Virus (HPV) vaccine was conducted at the University of Rochester.

According to AMSNY, there’s a significant urgency to having the state make this investment now. That’s because other states have made medical research a very clear economic development priority. States such as Minnesota, Indiana, Nevada and Utah – each with only one medical school, in contrast to New York’s 16 – are appropriating tens of millions of dollars to their medical institutions to support bioscience infrastructure. More aggressive bioscience investors, such as California, Texas and Massachusetts, are allocating billions of dollars for the same purpose.

These states recognize the potential of biomedical laboratories as economic drivers, and are seeing huge returns. The Cancer Prevention and Research Institute of Texas (CPRIT) brought 100 top-level researchers to the state who are searching for effective treatments for cancers, and put more than 1,000 college- and graduate-level students into those labs to train the next generation of researchers. More than 4,700 direct jobs have been created in Texas as a result of CPRIT and $250 million in CPRIT product development research awards have catalyzed at least $910 million in private sector follow-on investment.

New York’s 16 medical schools could facilitate similarly huge economic growth in the biomedical sector with a $50 million investment from the state.

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The Associated Medical Schools of New York (AMSNY) is a consortium of the 16 public and private medical schools throughout New York State. AMSNY’s mission is to promote high quality and cost-efficient health care by assuring that the medical schools of New York State can provide outstanding medical education, care and research. The combined total of New York’s medical schools economic impact equals more than $85.6 billion. This means $1 in every $13 in the New York economy is related to AMSNY medical schools and their primary hospital affiliates. For more information on AMSNY, please visit: www.amsny.org

Crain's Health Pulse: Medical schools put new spin on $500 million request

Texas and other states have gained attention in recent years for boosting their investments in recruiting prominent names in biomedical research, some of whom formerly conducted their research in New York. The Associated Medical Schools of New York has been calling on the state to adopt a similar strategy, without much success. Today, AMSNY is announcing a new investment plan it hopes will be more palatable, along with projections for the amount of money the program could generate.

The project would entail a $50 million annual commitment for 10 years from the state, which would be matched two-to-one by $100 million per year from the medical schools that receive the funding. Unlike last year’s bid by AMSNY, the $50 million from the state would not directly cover the salary of the star researcher being recruited. That would be covered by the school. Rather, state money would go toward setting up labs, hiring support staff and buying equipment.

“For every million dollars spent, a small company is being formed within the infrastructure of a medical school,” said Jo Wiederhorn, president and chief executive of AMSNY, which represents 16 private and public medical schools across the state.

Over a decade, the program, NY FIRST, would directly generate 4,000 to 5,000 jobs with average wages of $70,000, according to AMSNY’s projections. Products licensed from the labs such as medical devices and pills could create additional jobs and generate millions, said Wiederhorn. A similar program the state funded with $36 million between 2002 and 2009 had a seven-to-one return on investment, according to AMSNY.

State Sen. Martin Golden, R-Brooklyn, put pressure on Health Commissioner Dr. Howard Zucker to address the issue during the joint legislative budget hearing last month.

“Texas, California and Massachusetts are eating our lunch, and so is Canada and other countries around the world,” he told the commissioner.

In response, Zucker noted that $5 million from Gov. Andrew Cuomo’s proposed $90 million breast cancer initiative would be put into a venture-capital fund for research.

Last year, Cuomo also announced $17.2 million for academic medical institutions to train people working on cutting-edge biomedical research through the Empire Clinical Research Investigator Program.

But the star researchers being poached from New York bring hefty federal funding with them, said Lee Goldman, executive vice president for health and biomedical sciences at Columbia University and chairman of the board of AMSNY.

“It’s not that the medical schools are doing badly,” said Goldman. “It’s that we are really well-conditioned salmon swimming successfully upstream.”

Politico New York: Medical schools have familiar request, but for a new purpose

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Medical schools have familiar request, but for a new purpose

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By DAN GOLDBERG 5:38 a.m. | Feb. 8, 2016

The group representing New York medical schools is once again asking the state for $50 million to invest in biomedical research, a request that has fallen on deaf ears for the past two years.

This year’s request is different because the money would go toward economic development — funding for labs, post-doc researchers and support staff.

In previous years, the schools had asked for money to recruit lead researchers. This new tact, the schools hope, will spark more of an interest from the governor’s office because it creates more middle-class jobs.

Like years past, the Associated Medical Schools of New York is promising to match the state’s $50 million with $100 million of its own.

“The benefit is really clear,” said Jo Wiederhorn, president of AMSNY, who argued the investment would have a multiplier effect, creating thousands of jobs throughout the state. “We bring in the best and the brightest. They do basic science, which is necessary for any of the programs the governor is talking about. Economically, it makes sense; health wise it makes sense. All of this helps the health outcomes of people in the state.”

The New York Fund For Innovation in Research and Scientific Talent — NY FIRST — would create jobs by furthering drug discovery and accelerating commercial research, Wiederhorn said.

The $50 million investment, combined with the $100 million from the schools, could create as many as 5,000 jobs over the next 10 years, she said.

For the past three years, AMSNY has said the need for state spending was urgent as states, including Texas, Massachusetts, Connecticut and Utah, have ramped up investment — wooing researchers from across the country to settle in their states and open up labs within their borders.

The Cancer Prevention and Research Institute of Texas is an appropriate example, AMSNY said. It brought 100 cancer researchers and put more than 1,000 college- and graduate-level students into those labs. More than 4,700 direct jobs have been created in Texas as a result of CPRIT and $250 million in CPRIT product development research awards have catalyzed at least $910 million in private sector follow-on investment, according to AMSNY.

The need is even more pressing as Congress has increased the budget for the National Institutes of Health and President Obama has launched his “moonshot” to cure cancer.

“We’re beyond urgent at this point,” Wiederhorn said. “The bottom line is, if we do not do something about attracting people to this state, they are going to go to other states and that is where all this federal money is going to flow to.”

Politico New York: Med schools request funding to create scholarships for minority students

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Med schools request funding to create scholarships for minority students

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Jo Wiederhorn. (AMSNY)TweetShare on FacebookPrint

By DAN GOLDBERG 5:27 a.m. | Jan. 19, 2016follow this reporter

New York’s medical schools are asking the state Legislature for money to create a scholarship program that would help pay tuition for minority students.

The Associated Medical Schools of New York, which represents 16 medical schools, wants $2.4 million to expand state-funded diversity in medicine programming, including $400,000 for a scholarship program for 10 students.

The governor’s budget, released Wednesday, includes $1.6 million for seven diversity programs already in place. The medical schools would like an additional $400,000 for the scholarship program and $400,000 to expand the current programs.

Students who accept the yearly scholarship would be required to practice in an area with a shortage of physicians as determined by the Board of Regents. They would work one year in the underserved area for each year of scholarship they receive.

The request comes shortly after the Association of American Medical Colleges reported that fewer black men enrolled in medical school in 2014 (515) than in 1978 (542). Fewer black men are applying as well, the report found.

“These scholarships are essential to create a more diverse physician workforce in New York,” Jo Wiederhorn, president of AMSNY, said in a statement.

Studies have shown black and Latino physicians are more likely to work in black and Latino communities, which are traditionally underserved areas.

Roughly 10 percent of New York’s physicians are members of a minority group, according to the SUNY Albany Center for Health Workforce Studies.

http://www.capitalnewyork.com/article/albany/2016/01/8588244/med-schools-request-funding-create-scholarships-minority-students

Capital Tonight: Increasing Diversity in Medicine

Medical school is expensive. So, the Associated Medical Schools of New York is hoping to make it more affordable for all. The organization is calling for a state-funded diversity in medicine scholarship program, assisting students from economically and educationally underserved areas. Doctor David Milling, Senior Associate Dean for Student and Academic Affairs at the University at Buffalo, explains on Time Warner Cable’s Capital Tonight. View the clip here.

Crains Health Pluse Newsletter: Med schools seek dollars for diversity

The Associated Medical Schools of New York is lobbying the state legislature to boost its funding for fiscal 2017. The organization, which represents 16 public and private medical schools throughout the state, is requesting $2.4 million for scholarships and diversity initiatives, up from $1.6 million last year. The bulk of the money, $2 million, would fund four post-baccalaureate programs that help students from underrepresented backgrounds get into medical school. An additional $400,000 is for launching a new scholarship. African-Americans, Latinos and indigenous peoples make up 35% of New York’s population but only 9% of the physician workforce, according to a 2014 report from the SUNY Albany Center for Health Workforce Studies. Funding for AMSNY’s diversity initiatives was slashed by about 20% after the 2008 financial crisis. The requested funding would help restore the programming that was dropped, said Jo Wiederhorn, the group’s president and chief executive.

AMSNY CALLS ON STATE TO FUND NEW SCHOLARSHIP PROGRAM TO INCREASE DIVERSITY IN MEDICINE

(New York, NY) – The Associated Medical Schools of New York (AMSNY), a not for profit organization that represents the 16 medical schools in New York State, is calling on the state legislature to create a new scholarship program to enable more students from backgrounds traditionally underrepresented in medicine to attend medical school. AMSNY is requesting $2.4 million to expand state-funded diversity in medicine programming, including the new scholarship program, which will cost $400,000 in the first year.

The proposed program would provide scholarships to New York medical schools for students from economically and educationally underserved areas, indexed to the average tuition and fees at the four SUNY medical schools (~$40,000 per year, with a maximum of 4 years). The scholarship will initially be offered to 10 students, and expanded to an annual cohort of 40 students in four years.

The rationale behind the program is the cost of medical education. For many students, paying for a medical education is a daunting challenge— of the graduating class of 2015, 81 percent of medical students reported leaving medical school with student loan debt, according to the Association of American Medical Colleges (AAMC). Across the country, the median level of debt for the class of 2015 was $183,000, not including accrued interest. This need for financial assistance is a significant barrier to medical school enrollment particularly for students traditionally underrepresented, who tend to come from low-income backgrounds.

“These scholarships are essential to create a more diverse physician workforce in New York,” said Jo Wiederhorn, President of AMSNY, which has, for 25 years, created and managed pipeline programs that have enabled individuals traditionally underrepresented in medicine to attend medical schools and become doctors.

Achieving a diverse physician workforce is imperative in order to reduce health-care disparities. According to AAMC, physicians from racial and ethnic backgrounds typically underrepresented in medicine (Black/African American; Hispanic/Latino; American Indian/Alaskan Native) are significantly more likely to practice primary care, practice in impoverished areas or practice in areas federally designated as medically underserved. Yet, according to data from the SUNY Albany Center for Health Workforce Studies, underrepresented minorities (Blacks/African Americans; Hispanics/Latinos; American Indians/Alaska Natives) made up only 9 percent of the physician workforce in 2014, compared to approximately 35 percent of New York’s population.

Increased diversity can also affect healthcare outcomes, as research indicates that race concordance between patient and physician results in longer visits and increased patient satisfaction, and language concordance has been positively associated with adherence to treatment among certain racial or ethnic groups.

On top of increasing the diversity of doctors in New York States, the scholarship will help address geographic health care disparities, as scholarship awardees will have to commit to practice medicine in an area of the state with a shortage of physicians, as designated by the Board of Regents. They will provide one year of service per year receiving the scholarship.

AMSNY is also requesting increased funding to support existing, successful AMSNY programs that increase the pipeline of medical students from economically and educationally underserved areas. These include four post-baccalaureate programs, hosted by the medical schools, from which 93 percent of participants go on to graduate from medical school. AMSNY is requesting that the state increase funding for these programs from $1.6 million to $2 million. The increased funding will allow AMSNY to continue running the seven programs currently funded by the Department of Health, as well as important prior diversity programming that was defunded as a result of state budget cuts. Students who participate in any of these programs will receive priority selection for the scholarships.

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The Associated Medical Schools of New York (AMSNY) is a consortium of the 16 public and private medical schools throughout New York State. AMSNY’s mission is to promote high quality and cost-efficient health care by assuring that the medical schools of New York State can provide outstanding medical education, care and research. The combined total of New York’s medical schools economic impact equals more than $85.6 billion. This means $1 in every $13 in the New York economy is related to AMSNY medical schools and their primary hospital affiliates. For more information on AMSNY, please visit: www.amsny.org

Statement on Increased NIH Funding From the Associated Medical Schools of New York

FOR IMMEDIATE RELEASE: December 21, 2015

Contact: Anat Gerstein, 646-321-4400 or anat@anatgerstein.com

Statement on Increased NIH Funding

From the Associated Medical Schools of New York

“New York must capitalize on this larger funding pie.”

Jo Wiederhorn, President of the Associated Medical Schools of New York (AMSNY), which represents and acts as a voice for the 16 medical schools in New York State, issued the following statement about the increase to the NIH budget.

“I applaud our leaders in Washington for the much-needed increase to the NIH budget. Now, New York should capitalize on this larger funding pie to build the state’s research capacity and use it to drive our economy.

“Increases in the NIH budget support more academic research and help build the researcher community. Those researchers, with increased grant support, can make more major medical discoveries that save lives. But that’s not all: those same researchers will hire more research staff, create startups and spinouts, support laboratories and other small businesses, and help drive economies. Today, more than ever, we need to build a strong research pipeline in New York.

“Over the past decade we have seen the NIH budget slashed and the climate for research devastated as a result. Grants have been significantly harder to access. In some fields, the NIH was approving less than 10 percent of grant requests. As a result, too many researchers have been leaving the field and encouraging students to pursue careers outside of academic research.

“With the shifting of the tide at the federal level, now is the time for New York to up its own investment. We know it works. From 2002 – 2009, New York supported the research economy with a $36 million investment and saw a $250 million return.

“New York can capitalize on the increased NIH funding to build a stronger, healthier and more successful research environment and economy – but only if it strategically and aggressively goes after it.”

AMSNY is grateful to the New York Congressional Delegation, including the New York members on the Appropriations, Energy and Commerce Committees, and to Senators Schumer and Gillibrand for their support.