Monitor defers foundation trust application of south London NHS trust
Monitor has deferred a decision on whether St George鈥檚 Healthcare NHS Trust should become a foundation trust because the trust does not yet meet all the financial standards expected by the regulator.
皇冠体育app trust provides a range of specialist, local hospital and community healthcare services to patients in south west London, Surrey and beyond.
Following a rigorous assessment, Monitor concluded that St George鈥檚 is well-led and the independent Care Quality Commission rated the quality of the trust鈥檚 services as good overall in April 2014.
However, the health sector regulator has decided to defer a decision on the authorisation of St George鈥檚 up until 31 March 2015. 皇冠体育app delay will give the trust time to finalise new borrowing arrangements that would enable it to reach the financial requirements for a foundation trust. This includes putting additional financial measures in place to ensure services will be protected in the event of any financial downturn.
Miranda Carter, Executive Director of Provider Appraisal at Monitor, said:
We are deferring a final decision on whether St George鈥檚 should become a foundation trust for a short period whilst it finalises its new funding arrangements.
When St George鈥檚 becomes a foundation trust we want to ensure it is in the strongest possible financial position.
皇冠体育appre are currently 149 NHS foundation trusts in England, over 60% of all trusts in the NHS. Foundation trust status gives patients a greater say in their healthcare, and foundation trusts have more freedom to shape services to match the needs of local people.
NHS foundation trusts are:
- free from central government control and able to decide how to improve their services
- able to retain any surpluses they generate to invest in new services, and borrow money to support these investments
- accountable to their local communities, with local people as members and governors