COMMERCIAL: Guy’s and St Thomas’s Foundation Trust has downgraded its earnings forecast for work at its Evelina Children’s Hospital, after losing business to US providers.

The latest finance report said “private patient income is £655,000 below plan where American providers appear to be taking work from us”, and added that overall private patient income from the hospital was projected to be £2.1m below plan.

The report said: “Private patient income is projected to be £2.1m below plan, whilst this is off-set by additional primary care trust income of £2,5m, the costs of delivering this include an overspend of £1.8m on clinical supplies and drug budgets; nursing budgets are projected to over spend by £1m and medical pay budgets by £721,000 as vacancies are recruited to above the affordable establishment.”

A separate part of the report by finance director Martin Shaw said: “The commercial directorate are assuming recovery of the paediatric income in later months, this is inconsistent with the projection submitted by the Evelina Children’s Hospital team and requires urgent review.”