皇冠体育app

Following an investigation in March, Monitor has found the trust in breach of its licence to provide care, and agreed a series of actions with the trust to address problems with its financial position and the way it is being run.

皇冠体育app trust, which provides general care to patients across Preston, Chorley and Lancashire, and specialist care for patients across the north of England, reported a deficit of 拢2.8 million in 2014/15 but forecast a 拢46.8 million deficit for 2015/16. This was the biggest deterioration in finances in the NHS foundation trust sector this year, and Monitor鈥檚 investigation found the trust lacked both the robust plans and the financial management needed to address its problems.

Lancashire Teaching Hospitals has also agreed to develop and deliver a long term plan to ensure its finances return to a stable position. Monitor will appoint a financial improvement director to provide support to the trust and hold it to account for making progress.

皇冠体育app health sector regulator will also amend the trust鈥檚 licence to ensure that, if the trust fails to make the changes needed, further action could be taken in future including changes to the leadership team, if required.

Paul Chandler, Regional Director at Monitor, said:

皇冠体育app trust urgently needs to improve its financial position in order to continue to provide the quality of care that people across Lancashire expect in the long-term.

This year, the trust predicted that its finances will be significantly worse than last year. 皇冠体育appre are a number of reasons for this, notably problems with the trust鈥檚 financial plans and management. 皇冠体育app trust is now on notice to reduce its forecast deficit quickly, and whilst it has our full support as it delivers its recovery plan, we will strengthen our action if necessary to ensure it manages its finances better in future.

皇冠体育app health regulator will continue to monitor the trust鈥檚 progress, and will take further regulatory action if necessary.