FINANCE: “Urgent action” is needed at University Hospital Southampton Foundation Trust to improve the delivery of cost improvement plans.

Board papers for May found that the trust delivered £400,000 of savings in April – less than half of the £1m planned.

“Urgent action is required to both improve identification and delivery of CIPs”, the trust’s finance plan found.

The trust has a CIP target for 2013-14 of £28.5m.

In April the trust’s clinical income was £500,000 better than plan, thanks to “over performance” on contract.

However, the poor performance on CIPs led to a pre impairment surplus of £155,000 - £138,000 worse than plan.