FINANCE: Southampton University Hospitals Trust slipped significantly behind its cost improvement plan for April, while its financial indicators were rated red under the Monitor compliance framework.
The trust’s board papers for May 24 showed that its savings of £600,000 in the first month of 2011-12 were 37 per cent lower than the CIP target for the month.
Although activity data was not yet available, “a level of overperformance” was assumed, “given the size of the activity management programmes required this year, and the fact that many of the plans are not yet fully worked up”.
There was also a £224,000 shortfall in non-NHS clinical revenue, due to “continuing low levels of private patient income”.
The trust also had red ratings under the Monitor compliance framework. The grading will come as a blow to the trust’s bid for foundation status, which was “reactivated” in March 2011, after being shelved in February 2010 “due to the situation of the health economy at the time”.