Monitor has closed its investigation at Oxford Health NHS Foundation Trust, as it is satisfied with the trust’s financial plans and governance controls to improve financial sustainability.
The health regulator launched its investigation on 14 July 2015 to understand why the trust was facing financial challenges and what was being done to fix them.
Oxford Health NHSFT has long been planning to meet the twin challenges of rising demand as people live longer with more complex conditions and the need to operate within constrained finances in our local health and social care systems. The trust had detailed plans for financial recovery in place before the Monitor review was initiated and is pleased that these have been evaluated and found effective.
OHFT has a strong track record and is now in the top 5% of NHS Trusts for financial efficiency in England according to national reference cost index figures just published, a further improvement on the position last year when it was in the top 10%.
Chief Executive Stuart Bell CBE said: “We are glad that Monitor agrees that we are doing the right things and supports our financial plans. Our top priority remains providing care to the people we serve and we’re pleased that we’re able to help people live longer and better. We know that our staff are working really hard to deliver this every day. To sustain this, we’re working closely with all of our partners in health and social care to look at how we can work together to do this in a way that is more efficient and most importantly, that in doing so, we provide effective care that meets people’s needs in the right place at the right time.”