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Forward planning

Papworth Hospital became a Foundation Trust on 1 July 2004, following many years as an NHS Trust. As a Foundation Trust, Papworth Hospital submits regular financial information to the independent regulator of Foundation Trusts, Monitor.

Monitor rates the performance of Foundation Trusts against predetermined criteria. These include a number of financial indicators which are consolidated together to give a financial risk rating for each Foundation Trust from 1-5 (5 being the lowest risk rating with no regulatory concerns) and a governance risk rating of green, amber-green, amber-red, red (green being the lowest risk rating with no regulatory concerns).

Monitor also sets borrowing limits for the Trust using a formula of financial ratios to establish a limit.
Under the Health and Social Care Act 2012, the Trust must ensure its income from NHS services exceeds its income from other sources (e.g. private patients)

The Papworth Hospital 2013/14 financial plan was accepted by Monitor earlier this year and included a number of projections for 2013/14.

Related documents
Papworth Hospital Strategic Plan 2014/19 ()
Papworth Hospital Strategic Plan - summary ()

Papworth Hospital Annual Plan 2013/14 ()

2013/14 financial plan accepted by Monitor:

  Annual Plan  
Financial risk rating 4  
Income & expenditure surplus £6.7m  
Capital expenditure £5.8m (full year)  
Cash £43m (year end)  
Private patient percentage 5.1%  

The plan also included Capital Investment schemes for 2013/14.

Capital investment schemes proposed 2013/14

IT systems Ongoing
Medical equipment Ongoing

 

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