27.10.15
Taunton FT confronted over growing deficit despite existing recovery plan
Taunton and Somerset NHS FT’s finances are continuing to deteriorate, after a Monitor investigation found that the trust could be in breach of its licence to provide services.
The trust, which runs Musgrove Park Hospital, predicts a £8.3m black hole in its bill this financial year – and, despite a recovery plan aimed at cutting the deficit, the provider believes it may in fact get worse.
The regulator found that the trust lacks a robust plan to tackle this deterioration and has therefore demanded both short and long term measures to rescue its finances and ensure they stabilise.
It also asked that the trust appoint a ‘turnaround director’ to support and challenge the provider as it makes the necessary improvements.
Paul Streat, Monitor’s regional director, said: “We’re concerned that the trust is losing money and hasn’t yet developed the right plans to tackle its financial problems. These problems are fairly recent. We are stepping in early to ensure that the trust can quickly get its finances back on train.
“The trust will also be appointing a turnaround director who will use their expertise to help the trust board make the improvements needed. We are confident that with this support it can recover its finances and continue to provide quality care to patients in Somerset.”
The regulator has also vowed to closely monitor the provider’s process against its recovery plan.
The trust is the latest in a string of providers being asked to appoint temporary or interim director to help steer financial changes within hospitals.
Burton Hospitals FT, for example, left special measures last week but was asked to take on an oversight director to tighten its governance and finances.
Also last week, two leaders were sent to intervene in the financially struggling Heart of England NHS FT after Monitor identified it was in breach of its licence.
And in late September, the deficit-ridden Cambridge University Hospitals NHS FT was placed in special measures after the regulator concluded it lacked adequate financial control and failed to deliver crucial savings.
Its governance body was set to be shaken up by a thorough review into how the trust is managed and, if directed by Monitor, the provider will work with an improvement director appointed by and accountable to the regulator.
(Top image c. Nick Chipchase)