Nottingham’s NHS Trust could have balanced books within two years
The CEO of an NHS trust which runs two hospitals in Nottingham has said it could have balanced books within two years.
Nottingham University Hospitals NHS Trust, which runs Queen’s Medical Centre and City Hospital, hoped to make £43m of savings over the course of the year.
The trust hit it’s deficit target of £22m and Peter Homa, CEO of the trust, said many of the savings were down to the hospitals performing better than expected in certain areas.
The trust also managed to save £9m on agency staff and Mr Homa said the aim is to reduce the deficit to £10m by next year and then to have balanced booked by 2019.
Mr Homa said: “Thanks to the efforts of many staff across NUH, we have delivered our £22million year-end ‘control total’ (deficit).
“We achieved £41.5m savings against our very challenging £43m target. We spent £9m less on agency and premium pay than the previous year as a result of our proactive nursing and midwifery recruitment campaign and tighter internal controls.
“We only achieved our 16/17 ‘control total’, however, because we did better than expected in a number of areas. We delivered our patient activity and income target in March and the Trust received a number of one off payments, making NUH eligible for additional national funding for meeting our agreed financial plan.
“2017/18 will be tougher still for NUH and the entire NHS. We go into the coming year with an underlying deficit position, largely due to the one-off payments and non-recurrent savings that enabled the Trust to meet its 2016/17 financial plan.
“In 2017/18, we aim to reduce our deficit to just over £10m and then balance our books in 18/19.”
Source: Nottingham Post