Objective: The authors describe a faculty practice plan that assigns a monetary value to various educational and research activities.
Methods: Four years experience in the implementation of the plan are reported.
Results: During this four-year period, the total dollar value of grants increased 319.6% from $9,175,495 in 1998-99 to $38,762,499 in 2002-2003, and the number of grants increased from 23 to 61. The total number of publications increased 21.6% from 102 to 124 between June 30, 1999 and June 30, 2003.
Conclusion: The authors believe that active collaboration with faculty in the development of a practice plan and its application in an objective fashion may increase faculty academic productivity, as measured by the number of publications, and research productivity, as measured by the number and total dollar value of grants. Such a plan may prove equally successful for other psychiatry departments in both these areas.