NHS Trust hit by £16m debt
Health bosses have been told a new NHS trust which covers both Lichfield and Cannock has a financial black hole of more than £16 million.Health bosses have been told a new NHS trust which covers both Lichfield and Cannock has a financial black hole of more than £16 million. Board members on the new South Staffordshire Primary Care Trust rece-ived the disturbing news yesterday as part of an update from officers who revealed the trust had inherited bigger than expected debts when it was created on October 1. Read the full story in the Express & Star
Health bosses have been told a new NHS trust which covers both Lichfield and Cannock has a financial black hole of more than £16 million.
Board members on the new South Staffordshire Primary Care Trust rece-ived the disturbing news yesterday as part of an update from officers who revealed the trust had inherited bigger than expected debts when it was created on October 1.The PCT is made up of four previous trusts covering Cannock, Lichfield, Tamworth and Stafford who were all in financial difficulty.
There is no way the trust can achieve a balanced budget by the end of this financial year, in March, but a new recovery plan could see the mountain of debt reduced to £8.7 million.
These savings will be on top of cost cutting measures introduced by the four individual PCT trusts before they were merged.
Among the new savings include cutting back on the over performance of hospitals in the area.
Other savings include using cheaper generic drugs to try and reduce the £93 million cost of prescribing drugs. The PCT is also looking to freeze recruitment.
