{"id":59772,"date":"2015-07-30T08:28:20","date_gmt":"2015-07-30T08:28:20","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=dec87dca90244626832da6a3f54043ff"},"modified":"2015-07-30T08:28:20","modified_gmt":"2015-07-30T08:28:20","slug":"press-release-action-taken-at-south-london-teaching-hospital-to-tackle-deficit","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=59772","title":{"rendered":"Press release: Action taken at South London teaching hospital to tackle deficit"},"content":{"rendered":"<div class=\"govspeak\">\n<p>The health sector regulator is taking action on behalf of patients at St George\u2019s University Hospitals to ensure the trust fixes its finances and improves how it is run. <\/p>\n<p>As a result, the trust has agreed to take a number of positive steps to improve its financial sustainability, including: <\/p>\n<ul>\n<li>creating and implementing a short-term financial recovery plan<\/li>\n<li>drawing up and carrying out an action plan to improve its financial planning and management<\/li>\n<li>develop and deliver a robust long-term strategic plan<\/li>\n<\/ul>\n<p>St George\u2019s has also agreed to work with other NHS organisations in its local area to develop these plans. <\/p>\n<p>Monitor has also added a further condition to St George\u2019s licence that requires an improvement in the performance of its board in dealing with the issues the trust faces. This will enable the health regulator to take further regulatory action if necessary. <\/p>\n<p>Mark Turner, Regional Director at Monitor said: <\/p>\n<blockquote>\n<p>St George\u2019s faces some serious financial challenges and needs to act decisively, so that patients can continue to receive quality healthcare.<\/p>\n<p>Our action is designed to support the trust in getting a better grip on its finances by improving their financial management and planning.<\/p>\n<p class=\"last-child\">These steps if implemented effectively and promptly should enable the trust to stabilise its financial position and improve how it is run.<\/p>\n<\/blockquote>\n<p>The health regulator\u2019s intervention comes after a sudden deterioration in St George\u2019s finances led to it recording a \u00a316.8 million loss for 2014-15. Monitor is concerned as St George\u2019s is predicting a \u00a346.2 million loss for 2015-16 which would be the third largest deficit in the foundation trust sector.<\/p>\n<p>It is also concerned that St George\u2019s doesn\u2019t have an adequate recovery plan; and may be forced to apply for several millions of pounds of additional funding.<\/p>\n<p>Monitor is scrutinising the trust\u2019s financial and board performance to ensure the necessary improvements are made quickly.  <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Monitor is taking action at St George\u2019s University Hospitals NHS Foundation Trust because of the trust&#8217;s finances and how it is run.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/59772"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59772"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/59772\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}