FINANCE: Worcestershire Acute Hospitals Trust has revealed it is facing ending the year with a £58m deficit if drastic action is not taken to improve its financial position.
The trust has also disclosed that a “step change” in performance is needed to help it deliver this year’s quality, innovation, productivity and prevention schemes, according to documents presented to the trust’s board last week.
The acute provider, which last year reported income of £364.7m, has also said it is unlikely to meet its current financial targets or the more challenging “stretch target” required by the NHS Trust Development Authority.
The documents also said the trust would have met its financial commitments for July had it not been for the impact of fines and penalties for poor elective performance.
As part of plans to recover its financial position, the trust has said that it has been granted to access to £19m of temporary working capital.
The papers said: “The trust will need significant levels of further working capital loans or a public dividend capital injection to meet its financial commitments in 2015-16.
“A temporary working capital facility of £19m is in place for the first six months of the year, pending an application for a more permanent solution once the financial recovery plan is in place.”
Earlier this month, Redditch and Bromsgrove Clinical Commissioning Group asked GPs to stop referring patients to Worcestershire Acute Hospitals in an effort to reduce its “unmanageable” outpatient waiting time backlog.
Trust board papers