FINANCE: The large south London acute was put on a block contract by its commissioners after “contracting issues” last year but will be moving back to payment by results for 2011-12.

The trust said this was after “a significant amount of work in 2010-11 on reporting of income and reconciliation processes”, the issues for which Greenwich, Bexley and Bromley primary care trusts referred the acute earlier this year to NHS London for arbitration.

The trust’s Tripartite Formal Agreement, sent to the Department of Health and NHS London, also said it had made cost savings of £43m in 2010-11 “whilst also seeing an improvement in service quality”.

It also saw no reported cases of MRSA and Clostridium difficile rates 30 per cent lower than the national target.