FINANCE: One of England’s largest teaching hospital trusts has submitted a deficit plan for 2015-16 to the regulator.
Guy’s and St Thomas’ Foundation Trust in central London has told Monitor it is predicting a deficit of £19.1m for the next financial year.
The trust has a turnover of more than £1bn and employs 13,500 staff.
It is the latest large teaching hospital trust to admit financial problems since the announcement of the withdrawal of extra payments for specialised services, known as Project Diamond funding in London, last year.
University College London Hospitals FT reported a year to date deficit of £16.5m for 2014-15 in March, while the similarly large Leeds Teaching Hospitals Trust has predicted a deficit of £52m for 2014-15.
Along with 30 other trusts, Guys and St Thomas’ rejected Monitor and NHS England’s 2015-16 “enhance tariff option” and opted to remain on 2014-15 prices.
Because of this it had originally been due to forgo the £124m Project Diamond funding over 2014-15 and 2015-16.
Guy’s and St Thomas’ is not predicting to end 2014-15 in deficit. A trust spokesman said it had “received additional money” for that year but would not confirm how much, where from, what the money was for or what conditions were attached to it.
He added that it was “not specifically Project Diamond funding”.
NHS England, which is leading the Project Diamond work on behalf of the Department of Health, had said it would be making £50m of Project Diamond money available in 2014-15, and that 2014-15 would be the last year it was made available.
At the time of publication, NHS England had not confirmed any details of whether trusts that had opted out of the enhanced tariff option would receive any of the £50m.
Trust announcement and information provided to HSJ
- Department of Health and Social Care (DHSC)
- GUY'S AND ST THOMAS' NHS FOUNDATION TRUST
- HSJ LOCAL
- LEEDS TEACHING HOSPITALS NHS TRUST
- NHS Greenwich CCG
- NHS Lambeth CCG
- NHS Lewisham CCG
- NHS Southwark CCG
- Specialised commissioning
- UNIVERSITY COLLEGE LONDON HOSPITALS NHS FOUNDATION TRUST
- Yorkshire and the Humber