FINANCE: The troubled west London acute trust revealed in a finance report that strategic health authority NHS London expects them to plan for a deficit in 2012-13 as well as this financial year.
It said the £70m savings target for this year, which would see the trust needing a bailout of between £30m and £40m to balance the books, had been reduced to £65m because NHS London was now allowing the trust to generate extra income.
The report said: “The recent meeting with the SHA had been positive. The trust’s challenge of saving 10-15 per cent is significant and a saving of 5 per cent would be considered a good result.
“NHS London has asked that a holding plan be enacted for the trust for summer. They are expecting a forecast outturn deficit plan for the year after this and will hold the trust to the agreed figures; it is expected that this will be greater than the holding position.”
It adds: “NHS London has offered transitional funding however some more work needs to be undertaken before reaching a decision.”