This story was first published in digitalhealth.net
Biggest ever overspend expected for London trust
It has been reported that Kings College Hospital Trust is expected to record an annual deficit of between £180 million and £191 million – the biggest overspend in NHS history.
Documents seen by the Guardian reveal that the trust has overshot its projected £146 million deficit for 2018-19 by a further £45 million after experiencing a series of setbacks.
The takeover by King’s of the Princess Royal University Hospital in Kent in 2013 has increased its costs while it is paid less than other nearby hospitals for providing certain types of care. Thsi is in addition to struggling with the most serious financial problems in the NHS as a result of a private finance initiative (PFI) contract, high use of agency staff to cover its chronic lack of nurses, and being fined for missing the four hour A&E target.
King’s posted a deficit of almost £132 million in 2017-18 – which at the time was the largest ever seen – and £48.6 million the year before. Unsustainable budget overruns led to the trust being placed in financial special measures in December 2017 and the resignation of most of its leadership team, including Lord Kerslake.
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