FINANCE: Whipp’s Cross is already behind plan on its 12.4 per cent cost improvement programme for this year, board papers reveal.
The east London acute trust recorded a £990,000 deficit in month two (May) of the financial year, £76,000 worse than plan. The trust needs to save £28.2m overall in 2011-12.
A finance report said: “The main reason for the cumulative adverse performance relates to under-achievement of quality, innovation, productivity and prevention (QIPP) initiatives. A total under-achievement of £0.5m exists. This is divided between schemes that have been allocated to directorates (£0.1m) and those held centrally (£0.4m).
“This position has been ameliorated by activity over-performance mainly associated with A&E attendances/admissions and under-spendings on high cost drugs.”
It added: “The total QIPP programme required to achieve a breakeven position remains at £28.2m (12.4 per cent). This is higher than the recommended achievement levels and a significant increase on the delivery of £15.1m achieved last year and therefore represents the most significant financial risk.”
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Finance paper (see attached, right)