Monitor
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Monitor statement in response to the NAO report on Peterborough and Stamford Hospitals NHS Foundation Trust
Monitor Chief Executive Dr David Bennett said:
“Monitor is working with the Trust, the Department of Health, and other local NHS organisations to deliver a sustainable financial solution for Peterborough and Stamford Hospitals NHS Foundation Trust which safeguards the delivery of quality services for patients.
Monitor queried the affordability of the PFI scheme from the start, and the Department only approved it on condition our concerns were addressed by the Trust. The Trust went ahead with the PFI anyway.
Once the financial situation at Peterborough became clear, Monitor took regulatory action, and we continue to work closely with the Trust, along with commissioners and the Department of Health, to turn around its financial performance. In particular, we expect the Trust to reduce costs and increase activity while maintaining quality services for local patients.
Meanwhile Monitor commissioned an independent review to learn lessons from this experience and is implementing the recommendations to strengthen its oversight of long-term investments by foundation trusts.”
