£20million of savings has helped Brighton & Sussex University Hospitals NHS Trust (BSUH) slash its deficit and come out of special measures for financial reasons with immediate effect.
The NHS Trust announced this afternoon that “significant focus and discipline” has allowed the trust to regain “firm control” of its finances, which still investing in facilities, staff and services.
However, the trust does still remain in special measures for quality.
In a letter to trust chairman Patrick Boyle, NHS Improvement (NHSI) praised the significant work that the trust has undertaken to stabilise its financial position.
Since the appointment of the new executive team at the start of the 2017 financial year, the trust has gained the confidence of regulators by:
· Achieving the deficit target required by NHSI
· Reducing its deficit by £13million – 19%
· Making £20million of savings across the organisation
· Strengthening the financial governance and management of the trust, and
· Identifying a further £30million of efficiencies for 2018/19.
The trust’s chief executive Marianne Griffiths said: “Patient care is our top priority, and the link with sound financial management is undeniable.
“We now have control over our finances and we have achieved this without taking our eye off the goal of delivering excellent patient care. We have also continued to invest in our staff and our facilities during this exceptionally difficult period.
“We still have a distance to go in achieving a balanced budget, but no longer being in special measures for finance is a major milestone on that journey.”
The trust’s projected deficit for the 2018/19 financial year is £55m.
Marianne added: “We have delivered on the deficit reduction plan we made with NHSI and we will maintain our focus and disciplined approach to financial management.
“All of our staff have had a role to play in today’s announcement, and will continue to be central to our financial sustainability moving forwards. Along with the rest of the board and executive team, I would like to thank them for their efforts to date, and for the continued financial focus that they will bring to decisions moving forwards.
“High quality patient care and strong financial management go hand in hand, and I have no doubt that we will continue to improve on both aspects of life at the trust.”