Investigation launched into “financial challenges” faced by Cambridgeshire and Peterborough NHS Foundation Trust
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An investigation has been launched into “financial challenges” at an NHS trust which provides services in Cambridgeshire.
Monitor has launched the probe into Cambridgeshire and Peterborough NHS Foundation Trust.
The health services regulator said it has opened an investigation on behalf of patients into the financial sustainability of the trust.
In a statement, Monitor said: “It has recently started to provide improved health and social care to the elderly and adults with long-term conditions through integrating these services across eastern England and working with other local NHS organisations.
“This should enable more people to receive joined-up health and social care and treatment closer to home.
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“However, while the trust is meeting its current fiscal projections, it still faces longer-term financial challenges.”
Monitor said it wants to be sure the trust is financially strong enough for patients to receive quality care in the future, particularly given the increased number of services it will be providing.
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The regulator’s investigation will seek to understand the underlying financial risks and challenges the trust faces.
It will also examine whether the trust’s leadership has a good understanding of these challenges and is developing effective ways of dealing with them.
Aidan Thomas, chief executive of Cambridgeshire and Peterborough NHS Foundation Trust, said: “This is a formality following our successful joint bid for older people’s healthcare and adult community services in Cambridgeshire and Peterborough.
“Monitor wants to ensure our future plans are financially sustainable and we will clearly demonstrate to Monitor – as well as our patients and stakeholders – our future financial plans are both robust and sustainable.
“This is part of Monitor’s process and is not unique to CPFT, or any other NHS Foundation Trust, which successfully wins contracts of this size and scale.”
Monitor will announce the outcome of its investigation in due course.