2009
annual report
focused on the best medicine
2010
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9930 - MSH - ANNUAL REPORT - 10x10
6/3/10 10:38 AM
Mount Sinai Hospital is one of Canada’s pre-eminent patient care, research and academic health sciences centres. We focus on providing patient and family-centred care, increasing our role as an academic health sciences centre and enhancing our community health partnerships. This report tells you about some of the people and programs whose breakthrough work is transformational. Thank you for supporting Mount Sinai and helping us discover and deliver the best patient care.
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Message
and/or research. Students learn from the Hospital’s
A year of breakthroughs, a focus on excellence
accomplished clinical staff and researchers, taking part in innovative teaching programs including simulation and inter-professional team-based training. Our human resources strategy is building excellence now and for the future. Mount Sinai was named Canada’s Most Admired Corporate Culture-Public Sector for 2009 and was the only hospital to be named one of Canada’s
“ WE
ARE TRANSFORMING THE WAY WE ARE DELIVERING CARE.”
Top Diversity Employers for the same period. We were named one of the Best Employers for New Canadians in Canada and for the fourth consecutive year, one of the
Hospital, we are building for tomorrow to ensure our patients continue to receive the best possible care and to guarantee excellence in clinical care, research and medical education. Our focus is on the Best Medicine. Our commitment is to excellence; innovation, technology and renewal are our roadmap to the future. We are playing a leading role in the health care of Ontario, in areas in which we specialize, including women’s and
Infants’ Health Program and a new in-patient medical
GTA’s Top Employers.
North America. Through its accomplishments, it’s clear the
floor. We’re proud of the progress we’ve made to date and
Building a modern and accomplished hospital takes
Lunenfeld is playing a vital role to help lead us into the
excited about the next steps. They include new critical care,
more than government funding. We appreciate that
future and to realize our vision of personalized medicine
emergency, surgical and inpatient units made possible
government recognizes Mount Sinai Hospital’s leadership
through strong linkage between our clinical
through a planning and design grant from the Ontario
role in the provincial health system and we are grateful for
and research programs.
Government. We’re building a Hospital that will serve
the province’s support. Our ambitions to be the best are
The Lunenfeld’s genomics expertise, working in
patients today and for generations to come.
also buttressed by a number of revenue sources. Our loyal
partnership with Mount Sinai’s clinical Centres of
Plans for the future must be built on a solid financial
and generous donors continue to make the difference.
Excellence, is putting the Hospital at the front line of
foundation or they simply become dreams. Mount Sinai
Our business development area continues to expand its
An equally important new technology, implemented
personalized medicine, a field that offers more accurate
Hospital continues to take a prudent and responsible
portfolio of activities. The Mount Sinai Hospital Foundation,
infants’ health, surgery and oncology, musculoskeletal
this year to enhance patient safety and quality of care, is
and individually-adjusted diagnoses and treatments
approach to budget management. We have reported
the Auxiliary and Leadership Sinai are a vital part of our
disease, chronic and intensive medicine, inflammatory
our EMeds or electronic medication project. This innovation
for patients. In a review this year of the Lunenfeld’s
a budgetary surplus, again, this fiscal year. We have
Hospital community.
bowel disease and biomedical research. Over the past year,
allows doctors and nurses to order, dispense and
effectiveness and potential to enhance the impact of
continued to improve our cost per case performance
Mount Sinai Hospital was founded by the Jewish
for example, we have recruited an outstanding expert in
administer patient medication electronically. It improves
research on patient care, a panel of biomedical and clinical
year over year and we are amongst the low cost peer
community in service to the broader community. We
the care of the elderly from The Johns Hopkins University
accuracy and efficiency, a crucial step leading to increased
directors from prominent research institutes in North
group. Productivity continues to improve through system
take pride in this heritage and are bound by our belief
School of Medicine, who will introduce new models of
patient safety. EMeds is a vital building block to an
America noted that “… Mount Sinai Hospital and its SLRI
redesign and organizational realignment.
in the crucial role Mount Sinai plays provincially and
care for elderly patients — the most significant growing
electronic health record — an advancement that will bring
may be in a unique position to become Canada’s first
These days, strong governance is more important than
nationally. Without our nurses, physicians, researchers,
demographic in hospital care. Mount Sinai Hospital is also
significant benefits to all patients.
truly translational general hospital. The quality of science
ever. Mount Sinai Hospital continues to benefit from the
staff, volunteers, Board, Board Committee members
introducing another emerging best practice with its inter-
Our journey to the future must include advances in
and medical care is excellent. It already hosts several
experience, skills, and oversight of our Board Members,
and donors, Mount Sinai Hospital could not achieve its
professional approach to preventing the development of
biomedical research. We are well equipped at Mount
internationally competitive clinical programs that can
Committee Members, Chairs and Deputy Chairs. By serving
ambition for excellence today or in the future. We thank you for your service.
resistance to life-saving antibiotic therapy.
Sinai Hospital to take that journey. The Samuel Lunenfeld
be focused on as prototypes for a truly translational
the Hospital well, they serve our patients and improve the
In the past year, there have been exciting advances in
Research Institute (SLRI) is marking its 25th anniversary.
research capacity.”
patient experience.
technology at Mount Sinai Hospital. Those advances are
In a short quarter century, it has achieved so much. The
Renewal is a key ingredient in our recipe for a
This year there is a strong emphasis on performance
key to improving the patient experience and patient
Lunenfeld is among the world’s leaders in biomedical
successful future. Those plans are well underway now.
measurement to promote continuous improvement.
safety. We implemented a new Information System in the
research. The Institute’s budget for 2009/10 was $90
Renew Sinai is a multi-year capital redevelopment project
Mount Sinai Hospital’s first Patient Outcomes Report, along
Schwartz/Reisman Emergency Centre, a breakthrough
million, 90% of which was derived through winning
aimed at improving the patient experience by rejuvenating
with an expanded version of the Annual Report, will be
that provides minute-by-minute tracking of Emergency
competitive external research grants. On a proportional
the Hospital’s physical space.
published on the website.
Department use and performance. This system was
basis, considering the number of principal investigators,
A significant milestone was achieved this year. The
One metric we are very proud of is the number of
recognized by an Ontario-wide hospital innovation award,
this ranks the highest in Canada and among the top 1%
six-floor addition to our existing building was completed.
students who receive training at Mount Sinai Hospital.
Innovations in Real-Time Reporting of Quality Data for
in the United States. The impact of this funding is equally
Now the focus is on building the interior of the new
As one of the University of Toronto’s principal teaching
Quality Outcomes. It was wonderful to be recognized
as significant. The quality of research conducted by
structure to ensure a space that is supportive of patients
hospitals, this year, Mount Sinai trained 325 medical
for our contribution to improving the efficiency of the
investigators in the Institute and the Hospital, as judged by
and their families’ needs. This project represents renewal
students and residents, 393 nursing students, and 277
Emergency Department.
the journals in which their work is published, puts
of a third of our total space including the Women’s and
post-doctoral fellows doing advanced clinical training
Lawrence S. Bloomberg O.Ont. Chair of the Board, Mount Sinai Hospital
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ANNUAL REPORT 2009 –2010
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and we are transforming the way we are delivering care
our organization in the leading 1% of institutions in
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JOSEPH MAPA President and CEO Mount Sinai Hospital
COMMITMENT IS TO EXCELLENCE; INNOVATION, TECHNOLOGY AND RENEWAL ARE OUR ROADMAP TO THE FUTURE.”
Joseph Mapa President and CEO, Mount Sinai Hospital
THE BEST MEDICINE
LAWRENCE S. BLOOMBERG O.Ont. Chair of the Board Mount Sinai Hospital
“ OUR
ANNUAL REPORT 2009 –2010
THE FUTURE COMES QUICKLY. SO TODAY AT MOUNT SINAI
6/3/10 10:38 AM
A life-saving first
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ANNUAL REPORT 2009 –2010
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DR. GREG RYAN KNEW THAT THE OUTLOOK WAS BLEAK FOR
surgery to correct her condition. Today, her heart is
a pregnant mother whose baby had a life-threatening
functioning and developing normally.
heart condition. Virtually the only hope for survival was
Highly-sophisticated ultrasound technology, generously
an experimental and risky heart procedure, used in just a
provided by Mount Sinai donors, was critical in
handful of centres worldwide.
diagnosing the problem and performing the procedure.
A team comprising Dr. Ryan, head of Mount Sinai’s
Without this caliber of equipment, such ground-breaking
Fetal Medicine Unit, and colleagues from The Hospital
procedures would simply be impossible.
for Sick Children, inserted a tiny coronary balloon into
Physicians across Canada frequently call upon the
the unborn baby’s heart to open the severely narrowed
expertise of Dr. Ryan and other fetal medicine leaders at
aortic valve — the first successful procedure of its kind
Mount Sinai when their patients face complex problems
in Canada. Immediate improvement in heart function
requiring leading-edge therapy. Mount Sinai takes pride
followed, allowing the baby to remain a crucial four more
in having one of the best and most widely recognized
weeks in utero. After delivery, she underwent further
fetal therapy programs in the world.
of personalized medicine, Dr. Katherine Siminovitch
that confer susceptibility to primary biliary cirrhosis
continues to lead research that enables excellence in
(PBC), a potentially fatal autoimmune disease that
patient care.
destroys bile ducts in the liver. Until now, the cause
In a study published in May, 2009, Dr. Siminovitch, a
of PBC has remained unknown and there is only one
Senior Investigator and clinician who holds the Sherman
available medical treatment. Since her initial discovery,
Family Research Chair in Genomic Medicine, reported the
Dr. Siminovitch has identified four additional genes that
discovery of a new genetic pathway (a gene ‘road map’)
contribute to risk for PBC.
that could provide individualized treatment options for
“This finding provides the very first clues into the
patients with a devastating liver disease. The discovery
causes of primary biliary cirrhosis and gives us new ideas
also offers great hope in treating other autoimmune
for treating this and many other autoimmune diseases
diseases, including rheumatoid arthritis.
that affect so many Canadians,” says Dr. Siminovitch.
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Dr. Greg Ryan
Dr. Siminovitch identified three genes in one pathway
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A genetic breakthrough
A RENOWNED GENETICIST IN THE EMERGING AREA
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Dr. Katherine Siminovitch
6/3/10 10:38 AM
Dr. Andrew Morris A patient safety advance
THE ABILITY OF SOME HOSPITAL-ACQUIRED INFECTIONS
the right antibiotics for patients and the right time to
to resist all antibiotics presents a serious challenge.
administer them.
Dr. Andrew Morris, an infectious diseases specialist, sees
Started in the ICU, the ASP has meant fewer
first-hand how patients in an intensive care unit (ICU) can
superbugs. Patients appear to be doing better and fewer
contract C. Difficile, methicillin-resistant Staphylococcus
antibiotics are being prescribed.
aureus (MRSA) and other harmful “superbugs.”
Mount Sinai is partnering with Pfizer Canada to extend
Now an innovative new multidisciplinary program Dr.
the ASP so doctors nationally and internationally can
Morris launched in 2009 is strengthening patient safety
learn from the innovation. Dr. Morris will lead a research
and improving on infection control.
program in antimicrobial stewardship to determine
The Antimicrobial Stewardship Program (ASP), a
the best ways for all doctors to use antibiotics. This
first of its kind in Canada, takes a methodical approach
partnership will also deliver new educational programs
to maximize the effective use of antibiotics. A key
and resources—such as an on-line information portal.
focus is helping doctors determine more precisely
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Low birth weight increases the likelihood that infants
at the forefront of discoveries in the field. Neonatologist
will be admitted to the Neonatal Intensive Care Unit
Dr. Prakesh Shah and other Mount Sinai researchers
(NICU), need multiple procedures, develop infections and
recently identified that pregnant women who take
have a higher risk of mortality. Adults who were low
multivitamin supplements have a reduced risk of having
birth weight babies are more likely to develop diabetes,
babies with low birth weights.
high blood pressure and coronary disease.
Dr. Shah and his colleagues looked at 13 studies
“Low birth weight and related complications are
published worldwide to assess the effects of
considered the most common cause of global infant
multivitamins on birth weight. Three other Mount Sinai
mortality under the age of five years,” says Dr. Shah.
physicians participated: Drs. Arne Ohlsson, Neonatologist
“That’s why it’s so important to reduce the number of
(retired), Vibhuti Shah, Neonatologist, and Kellie Murphy,
babies born with low birth weight.”
7 ANNUAL REPORT 2009 –2010
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Maternal Fetal-Medicine Specialist.
Infants’ Health, and our researchers and physicians are
|
Groundbreaking paediatrics
MOUNT SINAI IS A LEADING CENTRE FOR WOMEN’S AND
THE BEST MEDICINE
Dr. Prakesh Shah
6/3/10 10:38 AM
Dr. Peter Ferguson A teaching transformation
CONSIDERED ONE OF THE TOP SURGERY EDUCATORS ACROSS
on to each new competency when they are ready rather
Toronto’s teaching hospital system, Dr. Peter Ferguson
than having to wait until a new training year.
is leading an innovative pilot program at Mount Sinai to
The program is intensive. Residents use Mount Sinai’s
make the training of future orthopaedic surgeons more
Surgical Skills Centre to develop proficient technical skills
efficient. The goal is to give orthopaedic residents more
such as suturing and repairing fractures before they get
practical experience and sooner.
to the operating room and are involved in looking after
Typically, surgical residents train for a fixed period
patients. Dr. Ferguson believes the result will be more
of five years. Mount Sinai’s program, offered with the
timely training, with residents getting better hands-on
University of Toronto’s Surgery Department, uses a
exposure, evaluation and feedback.
Competency-Based Curriculum (CBC), the only one of its
“There is immense interest around the world in
kind in the world. Under Dr. Ferguson’s guidance, three of
the program,” says Dr. Ferguson. “This really has the
the university’s 12 orthopaedic residents are learning all
potential to have a big impact on surgical training.”
the components of orthopaedic training. But they move
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to extract estrogen from very small tissue samples. The
translating research discoveries into innovations for
technique combines multiple tests into one lab device,
better patient care.
making diagnoses more accurate and less intrusive than
A Senior Investigator and clinician who holds the
traditional breast biopsies.
Camille Dan Family Research Chair in Translational Cell
The discovery is equally important for women who
Biology, Dr. Casper applies his creativity to produce
already have breast cancer, and are taking drugs to
significant breakthroughs, including a major advance in
reduce estrogen levels and stop tumour growth.
the area of breast cancer.
“Using this technique, we can measure estrogen
In a study published in October, 2009, in collaboration
levels directly in the breast tissue,” says Dr. Casper.
with scientists at the University of Toronto, Dr. Casper
“This is important because we can assess a woman’s
reported an innovative method for measuring levels
response to therapy and determine the need for higher
of estrogen in clinical samples. The ‘Lab on a Chip’
doses of treatment.”
9 ANNUAL REPORT 2009 –2010
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8
approach uses silicon wafer-based electronics technology
Samuel Lunenfeld Research Institute’s focus on
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A major innovation in breast cancer diagnosis
THE WORK OF DR. ROBERT CASPER EXEMPLIFIES THE
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Dr. Robert Casper
6/3/10 10:38 AM
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THE DEVELOPMENT OF MOUNT SINAI’S ELECTRONIC
generous support of the Mount Sinai Hospital Auxiliary’s
health record system reached a major milestone this
Advancing EMeds pledge.
Advancing patient care through technology
year with the implementation of EMeds and electronic
The new system enables electronic access to patients’
Patient Care Orders. The project is the largest rollout
records from anywhere within the hospital. Physicians
in the Hospital’s history. Electronic records of patients’
input their patient care orders directly into the system,
medications are an essential advance to improve
where they are reviewed by Pharmacy for drug
patient safety and enable the ordering, dispensing and
interactions and verified. The medication is then dispensed
administration of medication with greater speed and
and delivered to the bedside medication cabinet.
accuracy than ever before.
Nurses and other clinicians are now able to perform
General Internal Medicine and Cardiology, Emergency
all the functions in medication administration at the
and Surgery were the first inpatient areas to use the
patient bedside, furthering Mount Sinai’s commitment
new technology, developed with input from all relevant
to more patient-centred care through modern and
clinical groups. The project has also benefited from the
efficient technology.
our modern history to rejuvenate our facilities. This
Our six-floor expansion is complete; the interior is
ambitious undertaking is driven by our commitment to
being built. The first program will move into the space
enhance safety, quality care, clinical outcomes and the
in 2011. Concurrently, with the help of a Ministry of
patient experience.
Health and Long-Term Care planning grant, we are also
For Mount Sinai’s single biggest patient group, renewal
planning the modernization of our surgical suites, the
brings a new and expanded space for the Lawrence
Schwartz/Reisman Emergency Centre, critical care and
and Frances Bloomberg Centre for Women’s and Infants’
patient units. This will ultimately further efficiency and
Health. We are upgrading the leading-edge technology
improve wait times.
we use to care for the approximately 1,000 critically ill
We appreciate that the Ontario government recognizes
babies and the 1,600 women with high-risk pregnancies
Mount Sinai’s role in the provincial health system through
that we see each year. The larger, contemporary space
financial support for Renew Sinai. This, along with
allows more single rooms for patients, enabling the
indispensable donor funding, is making Renew Sinai
highest standards of infection control as well as greater
possible. Renewal will ensure the hospital keeps growing
family privacy and a patient-centred environment that
as a leading academic health sciences centre.
11 ANNUAL REPORT 2009 –2010
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10
EMeds
leads to better health outcomes.
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A state-of-the-art space
RENEW SINAI IS THE MOST SIGNIFICANT INITIATIVE IN
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Renew Sinai
6/3/10 10:39 AM
From one family to many
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ANNUAL REPORT 2009 –2010
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THEY WILL PROBABLY NEVER REALIZE IT, BUT FAMILIES
focused on preparing newly minted family doctors for
across Ontario will soon benefit from improved access to
this essential component of family practice.
maternity care, thanks to the thoughtful gift of one family.
“I have received wonderful care from Dr. Biringer,
A donation of $1.5 million from Ada Slaight and the
and I wanted to recognize this in a way that allows her
Slaight Family Foundation has established Dr. Anne
aspirations to become a reality,” said Mrs. Slaight.
Biringer as Director of Family Medicine Maternal Care,
“My family is thrilled that this gift will create
and is enabling her work to strengthen the ability of
improvements in communities beyond the hospital,
family doctors throughout the province to provide the
through research, education and mentorship,” said her
full scope of prenatal and maternal care. The funds will
son, Gary Slaight, overseer of his family’s philanthropy.
support education and mentorship strategies at the
“I’m honoured to have the Slaight family’s support,”
undergraduate and postgraduate levels, the development
said Dr. Biringer. “This donation will help to transform
of web-based programs and simulations and research
maternity care for families and their physicians.”
with 11 stents, which keep me alive.” His heartfelt
John H. Daniels Cardiac Research Centre will support the
connection to cardiac care, coupled with his more than
clinical research activities of our Division of Cardiology,
30 years on the Mount Sinai Hospital Board, inspired
conducted within a complex of research catheterization,
Mr. Daniels, founder and CEO of Daniels Corporation, and
physiology, exercise and sleep laboratories unique in
his wife Myrna to support research into heart disease.
North America.
That inspiration touched the whole family, for when they
“If I can improve the quality of life for others, that’s
learned of their parents’ $5-million donation, the couple’s
important,” says Mr. Daniels, for whom giving back to
five sons — David, Mark, Robert, Zev and Peter Daniels —
the community has mattered throughout his career. The
decided to contribute a further $3 million.
involvement of the whole family is eloquent proof that
Research is a particular interest for Mr. Daniels, who
the power of philanthropy reaps rewards from generation
says, “I wouldn’t be here if not for all the research that
to generation.
13 ANNUAL REPORT 2009 –2010
Ada Slaight
was done in the area of stents and cholesterol.” The
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The power of philanthropy
JOHN DANIELS TAPS HIS CHEST AND SAYS, “I EXIST HERE
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John Daniels
6/3/10 10:39 AM
By The Numbers
Mount Sinai Hospital
Patient Satisfaction1 OVERALL CARE RECEIVED (EMERGENCY DEPARTMENT)
OVERALL CARE RECEIVED (INPATIENT)
Key Metrics for 2009/2010 100
Summarized Statement of Financial Position As at March 31, 2010
100
MOUNT SINAI HOSPITAL TRACKS CLINICAL OUTCOMES and gathers extensive performance data. Reporting on performance is a central component of our
0
94.2%
dedication to patient and family-centred care.
MSH
These are some of Mount Sinai’s key metrics for
0
91.5%
88.2%
78.1%
Greater Toronto Area (GTA) Peers Benchmark
2009/10. In all cases we exceeded the benchmarks.
(in thousands of dollars)
Our complete Patient Outcomes Report for 2009 is published on our website.
0
SURGICAL ONCOLOGY
200
69 days MSH
161 days
AUDITORS’ REPORT ON SUMMARIZED FINANCIAL STATEMENTS To the Directors of Mount Sinai Hospital:
Current assets
KNEE REPLACEMENT
200
2009
Assets
Wait Times (90th percentile) HIP REPLACEMENT
2010
200
0
0
57 days
176 days
55 days
62 days
Provincial
Restricted cash and cash equivalents
27,758
14,061
Accounts receivable
28,121
61,531
Inventories, prepaid expenses, deposits and sundry assets
7,233
6,434
63,112
82,026
Capital grants receivable
676
1,534
as at March 31, 2010 and for the year then ended on which
Mount Sinai Hospital Foundation of Toronto
5,495
5,795
we expressed an opinion without reservation in our report
The accompanying summarized statements of financial position, operations and changes in net assets (deficiency) are derived from the complete financial statements of Mount Sinai Hospital
Property and equipment 291,910 289,834
dated May 25, 2010. The fair summarization of the complete
Total assets 361,193 379,189
financial statements is the responsibility of management. Our responsibility, in accordance with the applicable Assurance
Patient Safety Indicators
2
VENTILATOR ASSOCIATED PNEUMONIA RATE
SURGICAL SITE INFECTION ANTIBIOTIC ADMINISTRATION COMPLIANCE (AS A %) 100
3
Liabilities
Guideline of The Canadian Institute of Chartered Accountants,
Current liabilities 128,619 160,058
is to report on the summarized financial statements.
Long-term liabilities
45,408
38,236
Deferred contributions 224,065 215,170
In our opinion, the accompanying summarized financial statements
Total liabilities 398,092
fairly summarize, in all material respects, the related complete
413,464
financial statements in accordance with the criteria described in Net assets (deficiency) (36,899) (34,275) 0
0
99%
94%
0.3
2.6
the Guideline referred to above.
Total liabilities and net assets 361,193 379,189 These summarized financial statements do not contain all the
MSH
Ontario Acute Teaching Hospitals Average
disclosures required by Canadian generally accepted accounting principles. Readers are cautioned that these statements may not be appropriate for their purposes.
Physician Satisfaction
Employee Satisfaction
HOSPITAL AS OVERALL PLACE TO WORK
HOSPITAL AS OVERALL PLACE TO WORK
100
For more information on the Hospital’s financial position, results of operations and cash flows, references should be made to the related complete financial statements.
100
14 0
92%
0
[signed PricewaterhouseCoopers LLP] 88%
83%
All Hospitals Average
Chartered Accountants, Licensed Public Accountants Toronto, Canada
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May 25, 2010
Patient Satisfaction results are for the Fiscal Year 2009/10 and are preliminary data. Overall Rating of Care by Response Type results for the same reporting period show that 80% of patients and families rank the care provided at Mount Sinai as excellent or very good, and 79% would recommend Mount Sinai Hospital to friends and family. [Patient Satisfaction Source: NRC Picker Quarterly Reports] 2 A surgical site infection (SSI) is an infection that can develop after an operation. One important preventative practice is giving an appropriate antibiotic to the patient immediately before the surgery. Ventilator associated pneumonia (VAP) is a hospital-acquired lung infection that may occur in patients who need to be on a mechanical ventilator (breathing machine) for more than two days. We report both indicators, as required by the Ministry of Health and Long-Term Care. Ontario acute teaching hospitals average for FY 2009/10 Q4. 1
9930-MSH-AR09-10.indd 16-17
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MSH
70%
ANNUAL REPORT 2009 –2010
ANNUAL REPORT 2009 –2010
15
6/3/10 10:39 AM
Mount Sinai Hospital
Samuel Lunenfeld Research Institute
Summarized Statement of Operations and Changes in Net Assets (Deficiency)
Summary of Funding
Year ended March 31, 2010
As at March 31, 2010
(in thousands of dollars)
2010
2009
Total Research Funding ($81 Million)
Income
21% Other ResearchSponsors Sponsors 21% Other Research 8% Industry SponsoredResearch Research 8% Industry Sponsored 4% Infrastructure Programs (CFI/OIT) 4% Infrastructure Programs (CFI/OIT) 8% Province Ontario 8% Province ofofOntario 30% Canadian InstituteofofHealth Health Research 30% Canadian Institutes Research 3% Genome Canada 3% Genome Canada 4% National Institutes 4% National InstituteofofHealth Health 5% Canadian Cancer CancerSociety Society 5% Canadian 4% Federal Indirect Program IndirectCosts Costs Program 4% Federal 13% Mount Sinai Foundation SinaiHospital Hospital Foundation 13% Mount
Operating Income Ministry of Health and Long-Term Care 317,047 307,305 Patient revenue
8,383
8,341
Preferred accommodation
8,358
7,921
Commercial activities
9,086
15,501
Other income and recoveries
27,638
25,632
Amortization of deferred contributions for equipment
8,163
9,417
378,675 374,117 Research Funding
68,871
Total Funding By Grant Type ($81 Million)
72,016
77 % Operating Grants 77% Operating Grants 99% % Infrastructure Grants Infrastructure Grants 66% % Career TraineeshipAwards Awards Career // Traineeship Industry Sponsored 44% % Industry SponsoredResearch Research Clinical Trials 44% % Clinical Trials
Total Income 447,546 446,133 Expenses Operating Expenses Salaries 219,368 209,715 48,458
General supplies, other and interest
65,400
63,494
Medical and surgical supplies
19,465
19,300
Drugs
9,241
15,509
Amortization of equipment
13,544
15,210
375,927 371,686 Research expenditures
68,871
72,016
Total Expenses 444,798 443,702 2,748
Change in fair value of interest rate swaps
1,299
Excess of income over expenses before amortization
4,047
841
6,671
6,189
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2,431
(1,590)
Amortization of building and research equipment, net of amortization of deferred contributions
The Samuel Lunenfeld Research Institute tracks outcomes of our scientists’
Research Funding
Percentage of publications in Top Biomedical Journals in 2009
% SUCCESS IN CANADIAN INSTITUTES OF HEALTH RESEARCH (CIHR) COMPETITION FALL 2009
% OF PRIMARY PAPERS IN TOP 1% OF BIOMEDICAL JOURNALS (IMPACT FACTOR >17)1
competition for health research funding and the number of research papers they publish in leading biomedical research journals. These are some of the Lunenfeld’s
50
25
%
%
0
0
33%
key metrics. In both cases, our scientists exceeded the benchmarks.
18%
Lunenfeld
10% National Average
Source: Canadian Institutes of Health Research (CIHR) Open Grants Competition Fall 2009
2.7%
Lunenfeld
TAHSN2 Average
Source: PubMed and Institute for Scientific Information
Excess of expenses over income (Note) (2,624) (5,348) Net assets (deficiency) - Beginning of year (34,275) (28,927) Net assets (deficiency) - End of year
(36,899) (34,275)
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ANNUAL REPORT 2009 –2010
16
Excess of income over expenses before the undernoted
By the Numbers
Note: Amortization of building is not funded by the Ministry of Health and Long-Term Care resulting in an excess of expenses over income.
The journal impact factor is a measure of the frequency with which the “average article” in a journal has been cited in a particular period. The impact factor of a journal is calculated by dividing the number of current year citations to the source items published in that journal during the previous years (2-5). The impact factor is useful in clarifying the significance of absolute (or total) citation frequencies. Journals with an impact factor greater than 17 represent the top 1% of all journals (Source: Institute for Scientific Information). 2 Toronto Academic Health Sciences Network (not including Lunenfeld data) 1
17 ANNUAL REPORT 2009 –2010
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THE BEST MEDICINE
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Mount Sinai Hospital Foundation of Toronto
Mount Sinai Hospital Foundation of Toronto
Summarized Balance Sheet
Summarized Statement of Revenue and Expenses and Changes in Fund Balances
As at March 31, 2010
Year ended March 31, 2010
(in thousands of dollars)
2010
2009
AUDITORS’ REPORT ON SUMMARIZED FINANCIAL STATEMENTS
Assets
2010
2009
Sources of 2010 Revenue
Revenue
Cash
2,309
599
Accounts receivables and prepaid expenses
933
165
Investments — at market value 65,697 58,350 Foreign currency forward contract asset
558
–
Capital assets
196
253
Total Assets 69,693 59,367
To the Directors of Mount Sinai Hospital Foundation of Toronto:
Accounts payable and accrued liabilities Foreign currency forward contract liability
Investment income (loss)
8,918
(8,064)
balances are derived from the complete financial statements
Total Revenue 43,012
36,698
518
is the responsibility of management. Our responsibility, in
–
1,992
19,256
accordance with the applicable Assurance Guidelines of the Canadian Institute of Chartered Accountants, is to report on the summarized financial statements.
Fund balances 46,801 40,111 69,693 59,367
75% Donations 4% Events 21 % Investment 4% Events 75% Donations 21% Investments
of Mount Sinai Hospital Foundation of Toronto as at March 31,
Total Liabilities 22,892
2,085
Fundraising Revenue 34,094 44,762
The fair summarization of the complete financial statement
528
1,805
statement of revenue and expenses and changes in fund
16,746
Grants and other payables to Mount Sinai Hospital 22,364
32,289 42,677
The accompanying summarized balance sheet and summarized
opinion without reservation in our report dated June 2, 2010.
Liabilities and Fund Balances
Donations, bequests and contributions
Events
2010 and for the year then ended on which we expressed an
Total Liabilities and Fund Balances
(in thousands of dollars)
In our opinion, the accompanying summarized financial statements fairly summarize, in all material respects, the related complete financial statements in accordance with the criteria described in
Expenses Fundraising and administrative
6,230
5,572
Events
398
389
Grants to Mount Sinai Hospital 29,694 33,840 Total Expenses 36,322
39,801
Uses of 2010 Revenue Changes in Fund Balances Excess of revenue over expenses and grants for the year
6,690 (3,103)
Fund balances - beginning of year 40,111 43,214 Fund balances - end of year
the Guideline referred to above.
46,801 40,111
4% Events 21% Investment 75% Donations
NOTES TO SUMMARIZED FINANCIAL STATEMENTS These summarized financial statements do not contain all of the disclosures required by Canadian generally accepted accounting
The Mount Sinai Hospital Foundation of Toronto is incorporated under the laws of Ontario as a
principles. Readers are cautioned that these statements may not
corporation without share capital. The Foundation receives, accumulates and distributes funds
be appropriate for their purposes.
and/or the income therefrom for the advancement of medical research, education and improvement
14% Fundraisingandand administrative 14 % Fundraising administrative 11% % Events Events 85 % - Clinical excellence 85% - Clinical excellence - Education - Education - Research - Research - Capital Redevelopment - Capital Redevelopment
of patient care at Mount Sinai Hospital. All funds received with a restricted purpose are extended For more information on the Foundation’s financial position,
for the purpose for which they are provided.
revenues and expenses and fund balances, references should be
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as such, is exempt from income tax purposes under Registration Number 11904 8106 RR0001. [signed PricewaterhouseCoopers LLP] Chartered Accountants, Licensed Public Accountants Toronto, Canada June 2, 2010
19 ANNUAL REPORT 2009 –2010
The Foundation is a public foundation registered under the Income Tax Act (Canada) and,
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made to the related complete financial statements.
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Board of Directors 2009-2010
Board of Directors 2009-2010
Mount Sinai Hospital
Mount Sinai Hospital Foundation
CHAIR OF THE BOARD Lawrence S. Bloomberg O.Ont. IMMEDIATE PAST CHAIR Bernard I. Ghert C.M. VICE CHAIRS Geoffrey Bledin Michael D. Bregman Gerald W. Schwartz O.C. Edward Sonshine Q.C. Lawrence M. Tanenbaum O.C. TREASURER Jay S. Hennick SECRETARY Heather Reisman DIRECTORS Brent Belzberg Peter F. Cohen Leslie Gales Peter C. Godsoe O.C. Chaviva M. Hošek O.C. Thomas E. Kierans O.C. Mitchell Kunin Joseph Lebovic Rebecca MacDonald Stephen M. Pustil Philip Reichmann Robert A. Rubinoff Honey Sherman John N. Turner P.C., C.C.,Q.C. George Wasserstein Howard I. Wetston Q.C. Charles M. Winograd Mark D. Wiseman EX OFFICIO DIRECTORS Dr. David W. Tannenbaum Chair Medical Advisory Council Barbara Kerbel-May President - Auxiliary
CHIEFS OF SERVICE Dr. Alan Bocking OB/Gynaecologist-in-Chief
SENIOR LEADERSHIP Joseph Mapa President and CEO Mount Sinai Hospital
Dr. Shoo Lee Paediatrician-in-Chief
Dr. Patrice Bret Radiologist-in-Chief Dr. Jeremy Freeman Otolaryngologist-in-Chief Dr. Jeffrey Hurwitz Ophthalmologist-in-Chief Dr. Rita Kandel Chief of Laboratory Medicine
Dr. Molyn Leszcz Psychiatrist-in-Chief
Debbie Fischer Dr. Donald Low Senior Vice President, Organizational Microbiologist-in-Chief Development and Performance (CPO) Dr. Gerald O’Leary Dr. Maureen Shandling Anaesthetist-in-Chief Senior Vice President, Medical Dr. Michael Sigal Joan Sproul Dentist-in-Chief Senior Vice President, Finance (CFO) Dr. Thomas Stewart Altaf Stationwala Chief Clinical Officer Senior Vice President and Chief Physician-in-Chief Operations Officer Dr. David Tannenbaum Dr. Thomas Stewart Family Physician-in-Chief Chief Clinical Officer Dr. Jim Woodgett Physician-in-Chief Director, Samuel Lunenfeld Leslie Vincent Research Institute Senior Vice President, Patient Care Dr. Jay Wunder and Chief Nursing Executive (CNE) Surgeon-in-Chief Neil Closner Vice President Business Development Prateek Dwivedi Vice President and Chief Information Officer (CIO) Susan Horvath Vice President, Philanthropy
CHAIRS Michael Bregman Robert A. Rubinoff IMMEDIATE PAST CHAIR Edward Sonshine Q.C. TREASURER Geoffrey Bledin SECRETARY Maxwell Gotlieb DIRECTORS Lawrence S. Bloomberg O.Ont. Richard M. Cooper David Cynamon Camille Dan Stephen H. Diamond Lisa Draper Susan Erem Gary S. Fogler Ronald Frisch Frank B. Gerstein Ira Gluskin Carole Grafstein C.M. Alan Greenberg Barbara Hennick Debbie Kimel Thomas Koffler Joseph Lebovic Fred A. Litwin R.S. (Butch) Mandel Stephen Miller Andrew G. Phillips Joel Reitman Jeffrey L. Rosenthal Jordan Sarick Neil Shinder Howard Sokolowski Kenneth M. Tanenbaum Richard E. Venn Frederic A. Waks Larry Wasser Jack Winberg Jonathan A. Wolfe
EX OFFICIO DIRECTORS Kenny Albert Brian Gluckstein Barbara Hania Barbara Kerbel-May Thomas E. Kierans O.C. Mitchell Kunin Joseph Mapa Lawrence M. Tanenbaum O.C. Dr. James Woodgett HONORARY OFFICERS Lloyd S.D. Fogler Q.C. Irving R. Gerstein C.M.,O.Ont. Bernard I. Ghert C.M. Murray B. Koffler O.C.,O.Ont. Joseph Lebovic Kenneth Rotenberg Gerald J. Shear Dr. Louis Siminovitch C.C. Morton M. Smith Q.C. SENIOR LEADERSHIP Susan Horvath President Harold Heft Vice President, Advancement Marc Shwec Vice President, Finance and Operations Joan Stevens Vice President, Donor Engagement
Dr. Christina MacMillan President Medical Staff Association Dr. Catharine Whiteside Dean, Faculty of Medicine University of Toronto
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HONORARY OFFICERS Lloyd S.D. Fogler Q.C. Irving R. Gerstein C.M.,O.Ont. Bernard I. Ghert C.M. Murray B. Koffler O.C.,O.Ont. Joseph Lebovic Wolf Lebovic Alvin B. Rosenberg Q.C. Kenneth Rotenberg Isadore Sharp O.C. Monty M. Simmonds Q.C. Gerald P. Turner
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Renew Sinai Enhanced patient-care areas. State-of-the-art medical equipment. Unparalleled research and laboratory space. Optimal health-care delivery. These are what Renew Sinai will bring to Mount Sinai Hospital. By supporting Renew Sinai, Mount Sinai’s transformational capital plan, you can help us usher in a new era of outstanding patient care and world-leading medical research. To donate, please call 416-586-8203 or visit mshfoundation.ca Mount Sinai Hospital Foundation 1001-522 University Avenue Toronto, Ontario M5G 1W7 For more about Mount Sinai, please see our online Annual Report 2009/10 at mountsinaiannualreport0910.ca or visit mountsinai.ca Mount Sinai Hospital and Samuel Lunenfeld Research Institute of Mount Sinai Hospital Joseph and Wolf Lebovic Health Complex 600 University Avenue Toronto, Ontario M5G 1X5 416-586-4800
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