Daily Telegraph Investigation Reveals UK’s Bankrupt Hospitals
Ministers are to take over one of the UK’s biggest hospital trusts because it is verging on bankruptcy, according to The Daily Telegraph.
An investigation by the organisation has revealed that the South London Healthcare Trust, which employs more than 6,000 staff, is burdened with large debts.
The report found that more than £1 million is being lost per week and it is believed to have been saddled by the costs of two Private Finance Initiatives used to rebuild two of the hospitals. The schemes cost more than £60 million a year in interest alone.
Therefore it has been formally warned that it will become the very first NHS body to be taken over by the Government.
Whitehall-appointed administrators will run the three hospitals- Queen Mary’s in Sidcup, Queen Elizabeth in Greenwich and Bromley- under a new management team and it has been claimed that more than 20 other hospitals in economic difficulty also risk being taken over.
Further trusts in financial jeopardy include Ealing Hospitals Trust, North Cumbria University Hospital Trust and Surrey and Sussex Healthcare Trust.
A government source said: “The standard of care that patients receive at the hospital trust is not good enough, although there have been some improvements in recent months.
“This will clearly be a difficult and controversial process, but we are determined to turn this trust around so patients in south-east London gets the care they deserve.”
The Daily Telegraph report that plans submitted to the Department of Health show that there is a massive gap in accounts between £030 million and £75 million annually over a five year period. Last year many hospitals were allegedly “on the brink of financial collapse” because of the PFI schemes.
Real Business Recovery specialises in helping businesses of all sizes who are struggling to cope with debt issues and risk of bankruptcy. The experts provide excellent help and support and with their extensive financial and corporate insolvency experience; it has led them to become one of the UK’s fastest growing firms in business recovery and corporate insolvency.
They comprise of a like-minded team of insolvency and business recovery professionals that are dedicated to providing Real, Relevant and Realistic solutions; so contact the friendly team today and take control of your business’ finances.
ENDS
