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Patient Centered Outcomes Research Institute

Patient-Centered Outcomes Research Institute

Patient Centered Outcomes Research Institute

Conflict of Interest Policy

• Applies to Board, Methodology Committee, Advisory Committees, and

staff

• Does not apply to consultants, peer reviewers, vendors, other third

parties

• Resolved concerns related to federal employees
• Follows the clear requirements of the statute

— Defines “conflict of interest” and “real conflict of interest” — Requires us to make regular conflict disclosures — When an issue arises for PCORI discussion/action, must disclose and…

• Recuse oneself voluntarily, or
• Let the Board decide
• Prohibition on gifts
• Note separate memorandum

Patient Centered Outcomes Research Institute

Conflict of Interest Policy for Third Parties

• Will apply to vendors, consultants, peer reviewers, grantees,

etc.

• Some statutory requirements, but more flexibility
• Three approaches:
• 1. A high-level policy based only on the disclosure standards in the

statute — Too lax?

• 2. Mirror NIH policies

— Currently undergoing a rewrite — Do not include our statutory public disclosure requirements — Relates to peer review of grant applications, not of research

Patient Centered Outcomes Research Institute

Conflict of Interest Policy for Third Parties

(continued)

• 3. A hybrid

— Base largely on NIH standards — Add PCORI statutory requirements — Add peer review standards for research

• Review standards from other research institutions
• Publish for public comments?

Patient Centered Outcomes Research Institute

2011 Budget

• No changes to previous draft reviewed by the Board
• This is a 12 month budget: looks back and forward
• Spending is based on previously approved workplans
• Methodology Committee numbers are still rough estimates
• Finance Committee will track spending throughout the year

—Report on significant issues or variances

Patient Centered Outcomes Research Institute

2011 Budget (continued)

Carryover from 2010 $9.6M Total 2011 revenue 50.0M Transfer to HHS/AHRQ [10.0M] 2011 estimated spend [19.3M] Carryover to 2012 $30.3M

Patient Centered Outcomes Research Institute

2011 Budget (continued)

Expenditures

General Administration $5.2M Communications/Outreach 2.7M Research 1.6M Methodology Committee .8M Grantmaking Capacity 7.0M Reserve for Commitments 1.7M Strategic Reserve .3M Total $19.3M

Patient Centered Outcomes Research Institute

April Financials

• Statement of Financial Position: Total Assets of $48.7M
• Expenditures compared to “draft” budget
• The message: Ahead of budget as activities still revving up

— Staffing expenses still at zero

• Through April:

— Expenses of $1.36M — Budget of $1.78M

• Positive variances in Board compensation, management fees, professional

services, travel

• No significant negative variances
• Cash basis; only Board compensation reflects an accrual
• Beginning in 2012, we will reforecast mid-year

Patient Centered Outcomes Research Institute

Other Activities:

• Work with Executive Director

—Staffing structure —Employment policies —Benefits —Office location

• Review compensation policy

—Ensure that compensation matches time spent on average —Data is required

Patient Centered Outcomes Research Institute

Other Activities (continued):

• Preparation for Audit
• Review and propose amendments to Bylaws

—Extend current Bylaws through end of year —Goal: propose amendments by November board meeting —Seeking input on process and substance