FINANCE: Monitor has launched an investigation into the financial sustainability of Southend University Hospital Foundation Trust.
The foundation trust regulator said it is “concerned by the deterioration in Southend’s finances”, in a statement issued this afternoon.
The trust recorded a £9.8m deficit for 2014-15 but had planned for a £7.8m deficit.
“Monitor is also worried that the trust does not have a realistic plan to recover from this situation,” the statement said.
The regulator will investigate the state of the trust’s finances and its financial management.
It will also look at how the Southend could improve its sustainability and work with other local health and care organisations.
Monitor regional director Katherine Cawley said: “People are relying on Southend to provide them with quality healthcare now and in the future, and we are concerned that this may be at risk because of the trust’s poor financial performance.
“We have launched this investigation to find out more about the financial situation at the trust and to establish what can be done to improve things.”
2 June 2015