Four London NHS Trusts have reported a combined deficit of £23.9 million for May 2024, significantly higher than the planned £6.1 million. The North West London Acute Provider Collaborative (APC), comprising Imperial College Healthcare NHS Trust, Chelsea and Westminster NHS Foundation Trust, London North West University Healthcare NHS Trust, and The Hillingdon Hospitals NHS Foundation Trust, said the shortfall is due to inflation and operational pressures.
Despite the deficit, which is £17.8 million worse than anticipated, the APC confirmed that no patient services will be affected. A spokesperson stated that all four Trusts are committed to delivering breakeven budgets for 2024/25, excluding the impact of industrial action.
The largest deficit was at The Hillingdon Hospitals NHS Foundation Trust, with £8.96 million, followed by London North West University Healthcare NHS Trust at £8.5 million, Imperial College Healthcare NHS Trust at £4.1 million, and Chelsea and Westminster NHS Foundation Trust at £2.3 million. The combined cash balance fell to £279 million, down £59.5 million since the end of the previous financial year.
Measures to address the deficit include accelerating cost improvements, tightening financial controls, reducing agency staff use, and increasing planned care to boost income and cut waiting times. The APC noted that planned mitigations, such as a System Optimisation Proposal, had not yet been fully implemented by May.
