As such, we are now taking swift and decisive action to address this and are implementing plans to reduce the potential overspend, ensuring we remain transparent about the challenges we face and our plans moving forward.
These pressures are being driven by increased staffing costs, rising expenses for clinical supplies, and lower-than-expected income generation, compounded by underperformance related to our Cost Improvement Plan (CIP).
It’s important to recognise that these challenges are also partly a legacy of the pandemic; prior to this, we had made significant progress in reducing our deficit.
Our focus, amongst much else, includes enhancing the efficiency of our theatre and outpatient services, which will help us secure additional funding, improve our financial outlook, and increase overall activity. We are also revitalising our Cost Improvement Plan with a goal of achieving £17.7 million in savings by improving productivity in specific areas, reducing wastage, and implementing better management of clinical supplies.
Additionally, we are working to reduce temporary staffing costs and strengthen our financial controls, particularly around non-pay spending.
These measures are designed to ensure that we use our resources as effectively as possible while maintaining the quality of care expected by our communities.
While we are scrutinising our spending, we are determined that these actions will not negatively impact our ability to deliver high quality patient care. For instance, we will continue to recruit to essential positions, and, underlining this, in the coming months, we will welcome over 100 newly qualified nurses and midwives.
This commitment is part of our strategy to secure the future of local services and make the most of the public funds entrusted to us.
As an organisation, we have faced challenges like this before and have overcome them, and we are confident in our ability to do so once again.
We are immensely proud of the commitment that Team DBTH demonstrates each and every day, and their continued support and dedication will be instrumental in helping us get back on track.
As we move forward with these initiatives, we will keep you informed through regular updates on our website and social media channels.
Thank you for your understanding as we work to ensure the best possible outcomes for those we serve and the communities we support.
