FINANCE: Failure to deliver key QIPP savings could put Weston Area Health Trust’s financial plans in jeopardy, managers have been warned.
The trust is already £530,000 behind on its savings plans for the year, reveals the trust’s latest finance report.
The trust must save more than £6m over the year under its quality, innovation, productivity and prevention savings programme.
In July the trust needed to make £325,000 worth of savings to stay on track but only achieved £205,000. It is now £530,000 behind on its savings plans.
“The QIPP savings delivery plan must be significantly improved as the savings requirement starts to ramp up for the remainder of the year and this is a significant risk to the achievement of the financial plan for the year,” said the report to the trust’s September board meeting.
The report also showed the trust was £241,000 over budget on spending for the month, with significant overspending on pay.
The trust currently has 105 different schemes running as part of its QIPP programme.
So far it has achieved savings of just over £1,271,000 in 2011/12 more than a fifth of the required amount.
“Improving patient flow many of the schemes in the QIPP programme and this work is being given priority and greater emphasis going forward,” said the report.
“This will release capacity and enable the trust to improve quality and realise efficiencies as well as improve performance particularly in emergency care.”
Weston Area Health Trust board papers (see attached, right)