Faculty Practice Plan (FPP) Policy
The purpose of the Faculty Practice Plan (FPP) is to maintain the clinical/professional skills of faculty members and at the same time provide economic incentive and reimbursement for professional services of faculty members, utilizing a University-sponsored agreement. Faculty and clinical departments, specifically including Physical Therapy, are eligible to utilize the FPP, as approved by the Provost. The FPP has several advantages to the University:
- It recognizes the intimate relationship of clinical practice in the faculty role, and it provides the opportunity to integrate the clinical practice role into the University environments.
- It benefits the University and/or department as a percentage of the monies generated will support the goals of the University and/or department.
- It outlines how faculty can earn additional income beyond their base salary through professional practice.
Governance of the plan
- The FPP will be implemented through sponsored program agreements, administered by the University's Office of Research Administration. The faculty participating in the Plan will be subject to FPP policies as stated herein, and to limitations as determined by their Department Head and Dean with regard to permitted hours of participation in the FPP.
- The Provost will appoint a Faculty Practice Board, to be chaired by the Associate Provost responsible for sponsored research and to include the Department Head, and all faculty participating in the FPP. The Faculty Practice Board will provide recommendation to the Provost with regard to operation of the FPP and the disbursement of monies received. Distribution of income from the FPP program will be determined and participating faculty notified prior to their participation in the Plan. The percentage distribution to the faculty member will not be modified by the Provost without input and recommendation from the Faculty Practice Board, Department Head and Dean, and then on six months notice prior to any such modification.
- Faculty participating in the Plan will be entitled to a determined percentage of income from the FPP, determined as described above. The percentage of income retained by the University will permit funding of retirement and social security/Medicare taxes for the faculty members participating in the Plan and an indirect charge not to exceed two percent (2%) of the program income. Remaining funding will be utilized according to the recommendations of the Faculty Practice Board.
The Department Head of the faculty members participating in the FPP will submit to the Provost a proposed compensation plan in compliance with this Plan and the other policies of the University as referenced herein.
- Faculty practice activity under the FPP shall not diminish the faculty member's fuIl participation in workload assignments, including scholarship and service expectations. Faculty participating in the FPP will at all times keep their Department Head informed of their participation in the FPP and be subject to consultation and direction of the Department Head with regard to such participation.
- Faculty members participating in the FPP are required to have a Missouri state license in their areas of practice, carry levels of malpractice insurance as determined appropriate by the Department Head, and maintain at all times a certificate of such license and proof of insurance on file with their Department Head.
- All faculty participating in the Sponsored Program Agreement will be required to acknowledge the terms of the Sponsored Program Agreement with the clinical site sponsor and by doing so agree to the terms of the Sponsored Program Agreement entered into with the clinical site sponsor and this FPP.
- All revenues generated by faculty participating in the FPP shall be provided to and belong to the University and are to be deposited into an appropriate FPP or departmental FPP account.
- Payment to the participating FPP faculty member will be administered through the University's payroll system, according to distribution guidelines approved by the Provost and acknowledged by the faculty member. The percentage of income received from the FPP to the faculty will not be modified, without completion of the procedures set forth in this policy under the heading "Governance of the Plan."
- The faculty member agrees as a condition to participate in the FPP to receive no compensation directly from any sponsor participating in the FPP, whether or not the faculty member is participating at sponsor's clinical site.
- All funds received and disbursements will be subject to supervision of the Office of Research Administration and the Sponsored Program Agreement.