The health sector regulator will examine the trust’s financial plans after it emerged that it lost £3.7 million last financial year. This year, the trust is predicting that its financial position may deteriorate further.
Monitor has concerns that the trust is making fewer savings than planned, and will look at how the trust could save more money to recover its finances.
Paul Streat, Monitor’s Regional Director, said:
Oxford Health lost money last year and the losses look set to continue.
We know the trust has already been working hard to save money, but to date it hasn’t been enough to return the trust to a healthy financial position. We want to know what more it could be doing to be more efficient, and how local healthcare organisations could help it to improve its finances.
Our priority will be helping the trust to improve its financial position so it can continue to provide quality care to its patients.
No decision has been made by Monitor on whether action will be needed. Monitor will announce the outcome of its investigation once it is completed.