Hospital for Special Surgery

What it reported doing in 2024

RESEARCH: THE RESEARCH DIVISION OF HOSPITAL FOR SPECIAL SURGERY CONTINUED ITS ACTIVITIES IN 2024 TOWARD ENHANCING AND EXPANDING OUR RESEARCH IN MUSCULOSKELETAL DISEASES. RESEARCH AT HOSPITAL FOR SPECIAL SURGERY WORKS TO ADVANCE THE UNDERSTANDING AND TREATMENT OF MUSCULOSKELETAL DISORDERS THROUGH BASIC, TRANSLATIONAL AND CLINICAL RESEARCH AND EDUCATION. THE GOALS ARE TO IDENTIFY GENETIC, ENVIRONMENTAL, CELLULAR, STRUCTURAL AND MOLECULAR MECHANISMS UNDERLYING DISORDERS IMPORTANT IN ORTHOPEDICS, RHEUMATOLOGY AND RELATED DISCIPLINES AND TO DISCOVER EFFECTIVE APPROACHES FOR DIAGNOSIS PREVENTION, AND TREATMENT OF THESE DISORDERS. HSS Research Institute (HSSRI) is home to a uniquely collaborative culture in which basic scientists work together with clinician-investigators to accelerate discoveries that will result in new treatments and improved outcomes for musculoskeletal patients. HSS Research Institute is composed of basic, clinical, and translational scientists to accelerate discoveries that will result in new treatments and improved outcomes for musculoskeletal patients. The key programmatic areas that have allowed us to make major contributions to musculoskeletal health include (1) Bone Health and Implant Integration (2) Inflammation & Autoimmunity (3) Joint Preservation and Regeneration (4) Musculoskeletal Pain Research. These programs are supported by an enabling infrastructure including a Genomics Center, Precision Medicine Laboratory, Center for Regenerative Medicine and Center for Biostatistics. HSSRI has active collaborations with the Applied Researchers within the Imaging and Radiology and Biomechanics Departments, many clinical departments including Orthopedic Services and Rheumatology/Medicine and is expanding collaborations with Physiatry, Anesthesia, Pathology and Neurology. Combining HSSRI expertise with the volume, breadth, and depth of patients seen at HSS to develop unparalleled clinical research and populations health outcomes programs, can further the national and international visibility of our institution. AS A RESULT OF STRONG INTRA - AND INTER - PROGRAMMATIC INTERACTIONS, AND THE USE OF SHARED CORE RESOURCES, OUR PORTFOLIO OF INNOVATIVE DISCOVERY AND DEVELOPMENT HAS EXPANDED EXPONENTIALLY. TO PROVIDE THE FINAL COMPONENT NEEDED TO ACHIEVE BENCH-TO BEDSIDE RESEARCH, THE BASIC RESEARCH INSTITUTE, IN COLLABORATION WITH CLINICIAN RESEARCHERS HAS CREATED A DISTINGUISHED CLINICAL RESEARCH PROGRAM. In 2024, THE RESEARCH INSTITUTE was FUNDED BY AN OPERATING BUDGET OF $59 MILLION, SUPPORTED IN PART BY APPROXIMATELY $44 MILLION IN EXTRAMURAL FUNDS, INCLUDING $17.2 MILLION FROM NEWLY AWARDED FEDERAL GRANTS. THIS RESEARCH RESULTED IN over 1250 PUBLICATIONS among the 245 research personnel IN 2024. HIGHLIGHTS FOR 2024 INCLUDE: continued advancement of HSS's research mission by: 1) supporting and retaining our most productive faculty, 2) mentoring the next generation of scientists, 3) expanding our collaborative efforts with clinicians and recruitment of full time clinical research scientists, and 4) supporting the infrastructure necessary to advance our research and ensure compliance, AND 5) SCIENTIFIC HIGHLIGHTS INCLUDE, laboratory studies in areas such as bone and implant integration, spine disc development, periprosthetic joint infection, tendon and ligament repair, robotics, biologics and autoimmune diseases (i.e. Rheumatoid Arthritis, Systemic Sclerosis, Lupus), REGENERATIVE MEDICINE; and SINGLE CELL SEQUENCING.

Financial Efficiency

• Mission deployment rate: 73.5%; rating input score 73
• Program expense ratio: 80.5%; rating input score 80
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 25th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 88.9%; rating input score 89; 22nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 83.3%; rating input score 83; 31st percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 6.5%; rating input score 62; 62nd percentile among comparable filings
• Total-asset coverage ratio: 2.09; rating input score 65; 65th percentile among comparable filings
• Liabilities to assets ratio: 0.41; rating input score 44; 44th percentile among comparable filings
• Officer compensation ratio: 2.7%; rating input score 42; 42nd percentile among comparable filings

Growth

• Program expense growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
• Revenue growth: 6.5% per year; rating input score 100; 56th percentile among comparable filings
• Asset growth: 10.2% per year; rating input score 100; 71st percentile among comparable filings