Barts Health NHS Trust has been placed in Financial Special Measures because we are not reducing our deficit quickly enough. We are working closely with NHS Improvement on a robust recovery plan that will enable us to reduce the deficit further while continuing to provide safe and compassionate services for our patients.
Alwen Williams, Chief Executive, said: “Our new leadership team is already taking concerted steps to recover our financial position by improving the productivity of our five hospitals and recruiting to permanent posts rather than using expensive agency staff. Each of our hospitals now has a local management team to ensure stronger grip of our budgets.
"We know we are spending more than we receive, and this cannot go on. Yet providing quality healthcare is labour-intensive, and like all other NHS hospitals, the biggest single element of our finances is the wages and salaries of our doctors, nurses and support staff. This accounts for over 60 per cent of our annual turnover of £1.4bn. Recruiting and retaining sufficient numbers of clinical staff is crucial to maintaining the quality of our services to patients. We welcome the extra support the national NHS is providing to help us tackle these challenges.”