Reduction of system £40m overspend a ‘big step in the right direction.”
One of the ICS’s finance leaders has described the reduction of over £40m in the system’s health budget overspend as a ‘big step in the right direction.”
Two years ago, Suffolk and North East Essex was £46.4m overspent (3.5%)– the planned position for 2019/20 is £4.5m over against a total budget of £1.3billion (0.3%).
Keith Wood, Senior Finance Manager for the ICS, said it is strong leadership within the system that has led to this improvement: “This shows the fruits of organisations working together and focusing on core health services for our local population. Organisations in the system are contracting on a more efficient, collaborative basis.
“This year’s plans look challenging but I am confident we can deliver on them.”
Meanwhile, finance leads predict that the target for the following year (2021) will be set for at least break-even – which would complete the financial recovery of the system.
“This places Suffolk and North East Essex in a stronger position than the vast majority of systems across England,” Keith added.