Yes- play to the strengths.
Here's another- we have a NYC campus. Leverage it. NYU, Cornell have hospitals in NYC. Maybe we cant just compete that easily, but why not add some of the teaching hospital to the NYC campus? We have it, lets use it.
Also, lets expand the NYC campus. More classes (heck, lots of kids are a subway ride away). This can then promote internships, where kids can go to school and work in the big city part of the day. Kids with internships get jobs later on, its a fact. Then they make zillions, and dump it back into SB.
I think we are silly if we dont have a presence in NYC, and let others come in and do so. Not only are we nearby, but most of our alums are within a daily commute's distance. In fact, many alums either live/work there, or both. Its one of the world's greatest cities, and St John's and Pace managed a campus there, we need to build out ours.