FINANCE: University Hospitals Coventry and Warwickshire will have to find an extra £2.9m of cost improvement savings in order to hit its year-end surplus target of £2.5m.

The trust’s current position is a deficit of £2.6m, in line with plan. At month five (August), the trust’s income was £6.7m higher than expected, “due to significant overperformance on activity”.

The plans depend on £4.9m of quality, innovation, productivity and prevention (QIPP) savings. However, these have not yet been finalised by commissioners, the papers say.

The trust’s own cost improvement plan is currently under delivering by £2.7m, forecast to be £11m behind plan at the end of 2012-13.

It is anticipating “a number of potential risks around contract challenges driven by commissioner response to their need to manage affordability”.

Source

Board papers

Source date

September 2012

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