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As executive vice president of USF Health, Dr. Lockwood oversees the Morsani College of Medicine (MCOM), the Taneja College of Pharmacy, the Colleges of Nursing and Public Health, the Schools of Physical Therapy & Rehabilitation Sciences and Graduate Biomedical Sciences, and the Athletic Training and Physician Assistant programs. He also directs the USF Health faculty group practice, which includes more than 1,000 providers and is among the largest multi-specialty practices in Florida. In addition to his administrative responsibilities, he serves as dean of the Morsani College of Medicine and as a professor in its Department of Obstetrics and Gynecology, with a secondary appointment in the USF College of Public Health. Dr. Lockwood assumed these roles upon joining USF Health in May 2014, and since 2015 he has also served as executive vice president and chief academic officer at Tampa General Hospital (TGH).

During his tenure as dean, Dr. Lockwood has overseen significant organizational changes across MCOM's missions in education, research, and clinical care. Over the past decade, applications to the medical school have increased by 30%, while the median MCAT percentile of matriculants rose from the 78th to the 97th percentile and the average GPA increased from 3.5 to 3.95. Student performance on USMLE Step 1 and Step 2 examinations has markedly improved, and more than 98% of students complete research theses. Enrollment of students from groups traditionally underrepresented in medicine grew from 7% in 2014 to 18% in 2024.

Beginning in 2015, Dr. Lockwood directed a targeted recruitment strategy to expand the number of National Institutes of Health (NIH)–funded investigators, with emphasis on cardiovascular sciences, neuroscience, and global infectious disease research. As a result, total MCOM research awards—including those associated with USF Health affiliates—increased from $128 million in 2014 to $345 million in 2024, while NIH expenditures rose from $72 million to approximately $179 million. Funding for non-cancer clinical trials also tripled, exceeding $20 million. He contributed to the development of several cross-campus, multidisciplinary initiatives, such as the establishment of the Department of Medical Engineering. Reflecting these gains, MCOM's U.S. News & World Report research and primary care rankings improved from 80th and 96th in 2014 to 50th and 46th in 2023, making it one of the fastest‑rising research medical schools during that period. Seven academic departments now rank among the top 50 nationally in NIH-funded research, and the institution's growth in research activity was a major factor in the University of South Florida's invitation to join the Association of American Universities (AAU).

In the clinical enterprise, patient volume increased by 40% and revenue more than doubled—from $192 million to $405 million—between fiscal years 2014 and 2022. The practice achieved perfect Medicare Merit-Based Incentive Payment System (MIPS) quality scores in two of the three most recent reporting years and recorded improvements in Press‑Ganey patient satisfaction metrics. In 2020, USF Health and Tampa General Hospital completed an enhanced affiliation agreement that integrated clinical services within a jointly operated management services organization, USF Tampa General Physicians, comprising approximately 1,600 employees. This integration provided additional financial stability, operational efficiencies, and expanded academic support. In 2024, the organizations further revised and expanded the agreement to strengthen collaboration across education, research, and clinical care. Over the past decade, TGH increased its number of top-ranked U.S. News & World Report specialties from three to eight, with many of these service lines led by USF faculty.