PERFORMANCE: Monitor has opened an investigation into West Suffolk Foundation Trust following concerns about its financial performance.
The watchdog will examine why the trust failed to deliver its planned savings and overspent by about £4m last year.
The trust attributed its overspend to several factors, including a rise in the number of emergency admissions and delays in discharging patients after treatment.
Monitor’s regional director for the Midlands and East of England, Adam Cayley, said it needed to understand why West Suffolk Foundation Trust’s financial position had deteriorated.
“[We need to] be assured that our concerns about its financial performance are suitably addressed and do not impact on the trust delivering the care its patients deserve.”
West Suffolk executive Stephen Graves said the trust’s “financial challenges will remain” and it predicts a loss of £8m in 2014-15.
“This is a worst case scenario and our recently published two-year plan, along with the work currently underway with PricewaterhouseCoopers, will improve the final outcome,” he added.
“We will continue to work closely with Monitor to provide any assurances they request that our plans are aligned, where necessary, with West Suffolk CCG and together we can deliver the necessary improvements.”