FINANCE: Failure on performance targets have cost West Suffolk Hospital Trust £350,000 in the first quarter of the financial year, according to a board report.

A performance report to the trust’s board predicted the losses from performance against monthly and year end targets.

It said: “The 12 major CQUIN [commissioning for quality and innovation] targets are being met, however, the trust is failing to meet some of the contract performance targets (cost of £350,000 for the first 3 months)…

“Whilst the trust has a budget of £2m for 2011-12 to either cover these penalties, or invest in services to ensure we meet the targets, strong performance against all targets at minimal costs is essential to compensate for the accumulated overspend within the first quarter.”