Cash crisis as Dudley hospital trust to ‘run out of money in two months’
‘Risks’ The startling financial position of the trust was laid bare in a new report which states: canada goose jacket uk womens “The current forecast cash flow shows the trust running out of cash in September.”
A “failure to maintain liquidity in 2019/20 and beyond” and a “failure to remain financially stable in 2019/20” are both listed as canada goose black friday 80 off red risks.
The trust said bosses had “ensured there is a contingency reserve unforeseen canada goose outlet in new york CQC/winter pressures”.
It is the latest crisis facing the Dudley Group trust, which was told in January by the health watchdog to improve canada goose outlet legit its A department before being rocked by claims of bullying from staff, over which leaders were eventually cleared.
Mike Wood MP Dudley South MP Mike Wood said: “Russells Hall cheap canada goose jacket mens has had a lot of challenges, particularly over the last year, which the leadership canada goose shop robbed team at the trust has been trying to address.”But clearly they need to make sure the hospital can continue to be on a sustainable financial standing.”
Dudley Group chief executive Diane Wake said: “Like every canada goose outlet near me other canada goose outlet NHS trust, we are operating in a challenging environment and we have been monitoring our finances very closely.
“We are doing everything we can cheap canada goose vest to reduce discretionary spending and drive efficiencies through our waste reduction.”
Are hospitals being bled dry of funding? A financial crisis at a hospital trust has https://www.rheingoenheim-info.de once again thrown NHS funding into canada goose vest outlet the spotlight.
The Dudley Group NHS Trust has just weeks to come up with a plan to solve its cash crisis as bosses warned it was due to run out of money by September.
NHS trusts up and down the country are saddled with debt having been forced to take out loans in order to stay afloat.
Many trusts, which are responsible for running our hospitals, are operating at a deficit, a result of income failing to keep up with expenditure.
Borrowing is likely to be the option taken by health chiefs in canada goose shop review Dudley, who run Russells Hall Hospital, as well as selling off assets, canada goose gilet uk sale to raise cash quickly.
Taking out a loan is often seen as an easy option to stave off a crisis but will create its own problems by piling debt onto the trust.
And the more debt hospitals trusts carry raises questions about their long term sustainability and about the UK’s NHS canada goose elrose parka uk model. When so many trusts are operating with a deficit, two thirds at the end of last year, how can canada goose black friday sale that be viewed as sustainable?
Russells Hall Hospital Health experts warned last year that a 20 billion funding boost from the Government for the NHS could be spent largely on repaying debts rather than improving healthcare as they called for 12bn of debts and deficits to be written off.
Historic debts were described as a “millstone which has to be removed from around the neck of the NHS”, by Peter Carter, canada goose outlet toronto address an ex cheap canada goose chief executive of the Royal College of Nursing.
More cash that has to be put aside each month to pay off debts means there is less to be invested into frontline services, the argument goes.
The Dudley Group says its latest forecast position is to be operating with a 5.7m deficit. That is despite the Dudley Clinical Commissioning Group (CCG) confirming it had agreed a 225m contract with the trust for this year.
Walsall Healthcare Trust, which runs Walsall Manor Hospital, reported a deficit of 24 million for 2017/18. The large overspend was blamed on “high costs incurred during periods of high demand on emergency services, requiring the use of additional capacity areas and an increased reliance on temporary workforce”.
Sandwell and West Birmingham NHS Trust, which runs Sandwell Hospital, is more than 18m in debt, according to latest figures canada goose jacket outlet store.