FINANCE: Barts Health Trust is aiming for £77.5m in savings during 2013-14

The £1.2bn-turnover organisation said in a statement: “Our £77.5m saving will be broadly proportional to our existing cost base.

“We will achieve savings by making substantial improvements to our procurement processes and through reviewing and re-negotiating contracts with existing suppliers to ensure our contracts represent the best value for money.”

It added: “For example, in 2012-13, Barts Health achieved £50m of efficiency savings through a wide variety of measures, including saving £1.75m on cardiac implants and hip and knee joints, as well as creating stronger links with our community healthcare partners, and we will look to make similar improvements in 2013-2014.”

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