STRUCTURE: Peterborough and Stamford Hospitals Foundation Trust has appointed PwC to run the process that will examine how to increase its efficiency and income but could recommend a change in governance structure.
Private finance initiative payments on a new hospital in Peterborough have seen the £223m-turnover trust predict £40m annual deficits for the foreseeable future, even after 5 per cent annual efficiency savings are made.
In September Monitor ordered the trust to improve efficiency and “achieve a £2m recurrent contribution by implementing business development opportunities” by 2016-17.
Parts of the trust’s estate are unused, with some space designed for clinical use given over to offices.
Peterborough and Stamford chief executive Peter Reading told HSJ the procurement panel appointed by PwC would report through him to the board and that it planned to “engage with the market” in the spring.
He said the trust was looking for “innovative” bids for using the spare capacity, which could include joint ventures, private patient facilities and importing specialist work.
Mr Reading said before enforcement action was taken the trust had looked at running its own 17-bed private patient unit on part of the site but this would not now take place.
Information given to HSJ