Peterborough NHS Speculation - Hit Back

Peterborough and Stamford Hospitals (PASH) NHS Foundation Trust has hit back at comparisons made of its financial position with that of South London Healthcare NHS Trust. PASH NHS Trust was forced to issue a statement amid speculation over its financial position following news the London NHS trust may enter administration as a result of a £69 million hole in its finances for the financial year 2011/12. However, Nigel Hards, chairman of PASH NHS Trust said the organisation has created a five-year recovery plan to deal with a £54.3 million loss brought about by PFI repayments for its £289 million Peterborough City Hospital. PASH have explained that as a foundation trust they are regulated in a different way. Although there are significant financial issues there is also a five-year recovery plan in place which is in the process of being approved by the Department of Health. It is then a situation that will be reviewed to help assess the recovery.

The hospital have made it clear that staff and patients should be assured that although there are issues, the board is working closely with the regulators in order to stabilize the situation.

Nigel Hards, chairman of PASH NHS Trust says “Although this cannot happen immediately, we believe we have a robust plan that spans the next five years.”