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Struggling hospital trust could get bailout
gv peterborough city hospital exterior pch exterior
THE cash-strapped trust which runs Peterborough’s £289 million super hospital is set to receive a multi-million pound government bailout.
Health secretary Andrew Lansley yesterday announced a pot of cash worth £1.5 billion over 25 years to help seven hospital trusts struggling under crippling financial burdens.
And one of those is Peterborough and Stamford Hospitals NHS Foundation Trust, which has been in the financial doldrums since it moved into the Peterborough City Hospital site in November 2010 and is predicting a £35 million budget deficit by the end of March.
The extra cash is designed to help the trust handle the Private Finance Initiative (PFI) which paid for the hospital in Bretton, with the PFI repayment bill set to be £36 million in 2012/13 alone, and rising every year with inflation after that.
But it is not yet clear how much of the government pot PSHFT will get, nor if the funding will continue every year.
And the extra help is not guaranteed as it has to pass four tests proving the problems the trust faces are “exceptional”.
The financial lifeline was welcomed by the trust, but MPs sounded a note of caution adding pressure to the already under fire management team.
MP for North West Cambridgeshire Shailesh Vara said: “I very much hope that we will qualify for some additional funds which would be most welcome.
“However, the fact remains that management needs to improve to make sure that we are not in similar position again. I hope that there will be no easing up because of potential help from this fund.”
Stewart Jackson, MP for Peterborough, said the trust would have to continue its efforts to save money
He said: “The trust has to make sure it gets its clinicians more efficient and dispose of the old hospital site.
“And it has to get a grip on emergency department admissions as well as working closely with the primary care trust before it gets abolished.”
Finance director at PSHFT Chris Preston said: “The trust welcomes the news that it is one of seven NHS trusts which may receive additional support from the Department of Health.
“We await further news on the situation. Meanwhile we continue to focus on our priority of providing high quality care for our patients.”
Trust has to pass tests to get cash
THE government bailout package only goes towards costs of the PFI used to build Peterborough City Hospital.
The ET previously reported the PFI could be as much as £2 billion over its lifetime - more than the entire pot of money the Department of Health has made available.
To receive any funding the trust has to prove the problems it faces are “exceptional and beyond those faced by other organisations”.
It must prove the problems are historic and have a clear plan to manage it; be delivering high levels of annual productivity savings; and be clinically viable with high quality services, including delivering low waiting times.
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Comments
There are 13 comments to this article
Page 1 of 1
MEHOULT
Wednesday, February 8, 2012 at 10:10 AMThe PFI in question was the proposedpromised Childrens hospital but when Sir Neil Mc KAY and Nik Patten left the new leadership decided that the PFI in question was unaffordable.
MEHOULT
Monday, February 6, 2012 at 05:34 PMStan,you are right my English is not great,but to answer your question I was on the same group as Sir Neil McKay and Mr Nik Patten.
Stan Smith
Monday, February 6, 2012 at 02:15 PMPeterborough City Hospital - twinned with Athens...
Stan Smith
Monday, February 6, 2012 at 02:09 PM@5 You haven't 'learned' your English 'lessons' so I'm concerned with how much you may recall about PFI's.
MEHOULT
Monday, February 6, 2012 at 09:52 AMLocal Lad,just to let you know I have been involved in two PFIs so I am really well informed,I would not comment otherwise.
Local-Lad
Monday, February 6, 2012 at 07:05 AMStrange everyone who had no involvement can become a PFI expert.
peace loving
Monday, February 6, 2012 at 02:03 AMIT SHOULD HAVE BEEN A UNIVERSITY HOSPITAL OR RUN BY THE RAF
J J Carter
Sunday, February 5, 2012 at 10:41 PMI won't trust any hospital where the bean-counters have more clout than the medics! It's rationing by the back-door, you're only cured if it's cheap otherwise it's a 'wooden overcoat'
MEHOULT
Sunday, February 5, 2012 at 12:23 PMI am not against PFI, I have seen some first class examples of the difference they have made to patients .If we don't look into how the current situation came about no lessens will be learn't and there could be more of the same in the future.
NORTHERNMONKEY
Saturday, February 4, 2012 at 05:13 PMwell what can i say i thought id try an intelligent commont then the circus comes to town, and mehoult an myself seemed ok then coco the clown comes along with no constructiveness therefore only people with an iq should respond
Marco_the_Clown
Saturday, February 4, 2012 at 02:49 PMComment removed by moderator
MEHOULT
Saturday, February 4, 2012 at 02:12 PMThere are some Knights here who should take some responsibility for promoting CEO before they are able then giving them cart blanch to do what they like with public funds.Perhaps we need another Fred the shed moment,were the real people responsible are held to account.
NORTHERNMONKEY
Saturday, February 4, 2012 at 01:38 PMperhaps if these hospitals had been monitored in costs it,s tax payers money they are spending to keep afloat,when how the hell every hospital has no weekend staff,too many chiefs not enough indians,and money spent on uneccessary items when nurses should be working there,realistically did these idiots work out the costs over the next 25yrs at 35mill a year us houseowners would,nt even think about it,nhs should not b run on profit but should b run on budgets this one is def wrong
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