FINANCE: University Hospitals Coventry and Warwickshire has fallen £4.6m of its target to identify £23m of cost improvement.

The trust’s annual financial plan said that “the Trust has identified schemes that value £18.3m” against a £23m Cost Improvment Programme (CIP) target. The identified plans included £1.4m of “red rated” plans.

It said: “In addition to the traditional divisional based schemes, it is proposed that a number of strategic workstreams will be undertaken during the year.”

These are as yet unidentified but the trust estimates they will value nearly £8m, meaning that the target will be reached.