FINANCE: Colchester Hospital University FT has fallen £1m behind on its plan to save almost £15m this financial year and expects to miss the target, according to board papers.
A finance and performance report to the FT’s board in October said the trust had delivered £4.8m on its service and cost improvement plan (SCIP) by the end of August. The trust had targeted a saving of £5.8m in the period.
The report said: “The assurance process in place through the Business Improvement group has the current “assured” position for the full year of £7.9m against a target for the year of £14.5m.”
The report also said £2.7m, more than half of the savings delivered so far, had been “non recurring”. It said: “Of the £2m delivered recurrently 50 per cent has been achieved with gains from commissioning negotiations with the North East Essex PCT.”