Kim Ki-chang, vice president of Yonsei University and director of the medical center, noted in his New Year's speech on the 2nd, "We will focus our capabilities on the transition of the system for treating ultra-high-complexity diseases and realize management stabilization through revenue diversification."
Director Kim appealed that the prolonged conflict caused by the increase in medical school admissions policy has deepened management difficulties. He said, "Yonsei Medical Center is facing its worst operating performance with a medical revenue deficit of over 120 billion won last year, and the fatigue of healthcare professionals holding the positions left vacant by departing residents has reached its limit." He expressed concern, stating, "Normal patient care is still difficult, and as this situation continues, the vicious cycle of deficit management is expected to persist this year." He also mentioned, "Even if various government supports and fee increases are reflected this year, considerable deficits are anticipated."
Director Kim emphasized, "This year marks the 140th anniversary of the opening of Jejungwon, the root of modern medicine in our country and the predecessor of Severance," adding that "like the saying 'Removing the old and establishing the new,' the medical center must break away from existing perspectives and seek innovation through positive thinking."
Director Kim said, "We will focus our capabilities on the transition of the system for treating ultra-high-complexity diseases." To this end, he added, "We will implement physician-centered care and enhance personnel operation efficiency," stating that "the personnel system will be improved to refine recruitment standards and ensure that personnel are allocated appropriately, while addressing the shortage of personnel with IT technology." Yonsei Medical Center has applied the country's first artificial intelligence (AI)-based system, 'Y-Knot,' to assist in writing patient medical records. He also emphasized, "We will proactively introduce new medical technologies, lead global clinical trials, contribute to new drug development, and realize precision medicine."
He stated, "We will realize management stabilization through revenue diversification." He noted, "As the medical environment rapidly changes, it is impossible to reinvest solely through medical revenues; therefore, Yonsei Medical Center will focus on management stabilization through future investments by diversifying its revenue structure." He added, "We will strengthen support for research and development and further solidify the research and development revenue structure, including patents and technology transfers," and he remarked, "We will also activate the creation of investment revenue through the Venture Investment Association, the first industry-academic cooperation fund in the country."
Yonsei Medical Center has been operating an investment fund of 9 billion won and has invested in 11 corporations. Director Kim stated, "The total value of the invested corporations is currently estimated at over 200 billion won," and he noted, "The investment revenue will be reinvested in the school's research and development to enhance research competitiveness."
Director Kim stated, "We will also put effort into fundraising activities," adding, "We will successfully carry out a large-scale fundraising campaign for the next seven years by devising strategies by institution and purpose for patient treatment, facility construction, and enhancing research capabilities."
He mentioned, "I will do my best for the ongoing construction of the medical school," indicating that "the new medical school, which will be built on the Allen Hall site, is currently in the design phase and will include small lecture rooms for discussion-based classes for students, a training center, and a digital information center, as well as a collaborative research space for integrated research."
Director Kim noted, "Plans are underway to prepare step by step for the construction of the Yonin Severance Hospital Yonsei Medical Innovation Center (Y-MIC), Gangnam Severance Hospital, and Songdo Severance Hospital," and he stated that "the Qingdao Severance Rehabilitation Hospital (provisional name) is expected to be completed by the end of this year." He emphasized, "The Qingdao Severance Rehabilitation Hospital will be the first overseas Severance Hospital established based on Severance's operational know-how and system," stating that "this will mark the beginning of the Severance brand's active dissemination globally."
He revealed that a medical cluster in Bangladesh is being prepared in collaboration with Forever Trade. According to Yonsei Medical Center, the Bangladeshi medical cluster, which includes medical and educational institutions, will feature a pilot hospital with 100 beds, a comprehensive hospital with 400 beds, a medical school, and a nursing school.
Director Kim stressed, "Yonsei Medical Center will successfully carry out overseas projects and promote the Severance spirit to the world through excellent Severance clinical and educational programs, realizing a global Severance." He urged faculty and staff, saying, "Now is a time when wisdom is more needed than ever, so I ask everyone to unite their efforts together."