Rocky Vista University College of Osteopathic Medicine
Encyclopedia
Rocky Vista University College of Osteopathic Medicine (RVUCOM) is a for-profit medical school granting an osteopathic medical degree (D.O.) located in Parker
, Colorado
near Denver. The school admitted its first class of medical students in August 2008. The school is owned by its founder, Yife Tien
, Chief Operating Officer
(COO) of the American University of the Caribbean
(AUC) located in St. Maarten.
corporation. Critics claimed the AOA's approval of a for-profit school "erodes creditability" of osteopathic medical schools, especially in comparison to their MD counterparts, medical schools accredited by the LCME
. The LCME has banned for-profit schools in the United States and Canada.
School officials insist the for-profit status of the school will not compromise the integrity of its educational mission. 2007-2008 AOA president Peter Ajluni responded, "there are many socially minded for-profit companies that contribute time, resources, and profits to their communities" and "for-profit institutions like RVUCOM can further the cause of osteopathic medicine in the United States."
Rocky Vista University's founder and chancellor, Yife Tien
, is involved in managing another for-profit medical school, the American University of the Caribbean
, located outside the U.S. but attended primarily by U.S. citizens. The school was founded by Tien's father, Paul Tien
. Forbes magazine reported that Tien's financial plan for Rocky Vista is to have tuition revenue
s increase from 2.7 million US$ in 2008 to 25 million in 2012, with a net income of 3 million US$.
is to provide "a vehicle for ensuring stability in case of death or incapacity of the principal owner, Mr. Tien. In this manner, decisions which are legally required of the owners of RVU LLC can be secured via CPH LLC should Mr. Tien die or become incapacitated." The announcement goes on to say,
"Mr. Tien proposes to place his interest in CPH LLC in an irrevocable trust with advisors who can address matters legally required of CHP LLC. Other than an annual meeting between the members of CPH LLC and the Board of RVU LLC and periodic reporting by RVU LLC as needed or required by law to the members of CPH LLC rather than to Mr. Tien individually, there are no organizational, operational or educational changes envisioned."
The transfer has been approved by the Commission on Osteopathic College Accreditation
.
Parker, Colorado
The Town of Parker is a Home Rule Municipality in Douglas County, Colorado, United States. As a self-declared "Town" under the Home Rule Statutes, Parker is the 2nd most populous town in the county, behind Castle Rock. In recent years, Parker has become a commuter town at the southeasternmost...
, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
near Denver. The school admitted its first class of medical students in August 2008. The school is owned by its founder, Yife Tien
Yife Tien
Yife Tien is founder and chancellor of Rocky Vista University College of Osteopathic Medicine. He is the son of Paul Tien, founder of the American University of the Caribbean, and is the current chancellor of the school. American University of the Caribbean website...
, Chief Operating Officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
(COO) of the American University of the Caribbean
American University of the Caribbean
The American University of the Caribbean School of Medicine is an international, for-profit, U.S. curriculum-based medical school with a main basic science campus in Sint Maarten, and is based in Coral Gables, Florida...
(AUC) located in St. Maarten.
For-profit status
The provisional accreditation of RVUCOM generated controversy before the school held its first class. Like all osteopathic medical schools, RVUCOM is accredited by the AOA's Commission on Osteopathic College Accreditation (COCA). Unlike the other 28 DO (osteopathic) and 126 MD (allopathic) medical colleges in the US, RVUCOM is organized as a for-profitFor-Profit School
For-profit education refers to educational institutions operated by private, profit-seeking businesses....
corporation. Critics claimed the AOA's approval of a for-profit school "erodes creditability" of osteopathic medical schools, especially in comparison to their MD counterparts, medical schools accredited by the LCME
Liaison Committee on Medical Education
The Liaison Committee on Medical Education is an accrediting body for educational programs at schools of medicine in the United States and Canada. The LCME accredits only the schools that grant a doctor of medicine degree; osteopathic medical schools are accredited by the Commission on...
. The LCME has banned for-profit schools in the United States and Canada.
School officials insist the for-profit status of the school will not compromise the integrity of its educational mission. 2007-2008 AOA president Peter Ajluni responded, "there are many socially minded for-profit companies that contribute time, resources, and profits to their communities" and "for-profit institutions like RVUCOM can further the cause of osteopathic medicine in the United States."
Rocky Vista University's founder and chancellor, Yife Tien
Yife Tien
Yife Tien is founder and chancellor of Rocky Vista University College of Osteopathic Medicine. He is the son of Paul Tien, founder of the American University of the Caribbean, and is the current chancellor of the school. American University of the Caribbean website...
, is involved in managing another for-profit medical school, the American University of the Caribbean
American University of the Caribbean
The American University of the Caribbean School of Medicine is an international, for-profit, U.S. curriculum-based medical school with a main basic science campus in Sint Maarten, and is based in Coral Gables, Florida...
, located outside the U.S. but attended primarily by U.S. citizens. The school was founded by Tien's father, Paul Tien
Paul Tien
Paul Shu-Pei Tien, Ph.D. is an American educator who was born in Tianjin, China and grew up in Taiwan. He came to the United States to pursue graduate education in electrical engineering, and later became a professor of electrical engineering in Ohio. In January 1978, Dr...
. Forbes magazine reported that Tien's financial plan for Rocky Vista is to have tuition revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
s increase from 2.7 million US$ in 2008 to 25 million in 2012, with a net income of 3 million US$.
Proposed transfer of ownership to Castle Pines Holdings, LLC
In October 2008, Rocky Vista University announced a proposal to transfer legal ownership of the University to Castle Pines Holdings, a limited liability corporation to be created solely for this purpose. According to the university's announcement, the purpose of the transfer of ownership to a holding companyHolding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
is to provide "a vehicle for ensuring stability in case of death or incapacity of the principal owner, Mr. Tien. In this manner, decisions which are legally required of the owners of RVU LLC can be secured via CPH LLC should Mr. Tien die or become incapacitated." The announcement goes on to say,
"Mr. Tien proposes to place his interest in CPH LLC in an irrevocable trust with advisors who can address matters legally required of CHP LLC. Other than an annual meeting between the members of CPH LLC and the Board of RVU LLC and periodic reporting by RVU LLC as needed or required by law to the members of CPH LLC rather than to Mr. Tien individually, there are no organizational, operational or educational changes envisioned."
The transfer has been approved by the Commission on Osteopathic College Accreditation
Commission on Osteopathic College Accreditation
The American Osteopathic Association's Commission on Osteopathic College Accreditation accredits schools granting the Doctor of Osteopathic Medicine degree in the United States. The US Department of Education lists the Commission as a recognized accreditor.-External links:*...
.