North Tees and Hartlepool NHS Trust £1.4million in the red so far this year
A top hospital chief said his team is are working towards overcoming a £1.4million shortfall in funding.
North Tees and Hartlepool NHS Foundation Trust, which runs the two hospitals, has been in the red by that sum since April this year.
But trust Chief Executive Julie Gillon says that is in line with expectations and work is continuing in an effort to overcome the deficit.
Writing on the trust’s website Ms Gillon said: “Work to date has ensured that recovery is a reality, and thanks must go to our Director of Finance, Neil Atkinson and his team for leading on that ambition.
“The Trust continues to work closely with NHSI to deliver robust financial recovery plans in a bid to tackle this challenge.
“The year to date position for North Tees and Hartlepool NHS Foundation Trust is a deficit of £1.4million which is in line with the annual operating plan.
“Following the implementation of a five year financial strategy, the Trust has been able to sign up to a 2019/20 Control Total which reinforces our commitment to returning to recurrent financial balance.”
If the trust achieves its Control Totals set by NHS Improvement (NHSI), it will receive around £10.2million funding and allow it to report a balanced budget for this financial year.
At the its annual board meeting in April the trust had an overall £14.8million deficit ahead of its “planned deficit” of £19million.
Ms Gillon added the trust has brought in several successful initiatives to make savings including reducing agency costs by over £2million.
It is also exploring ways to cut down on waste and duplication.
Despite the financial challenges, Ms Gillon said patients will continue to come first.
She added: “We must not allow this broader challenge to distract us from delivering the best patient care for our communities.
“Making savings and improving our financial position is certainly important, but caring for the people of North Tees and Hartlepool will always remain our priority.”
At the trust’s annual board meeting in April, Chairman Paul Garvin said they were “making really good progress and running well ahead of target.”