Lincolnshire’s main health trust is set to rack up a total deficit of more than £88.2 million this year.
United Lincolnshire Hospitals Trust (ULHT) is expected to meet its plan with NHS Improvement, reaching a total overspend of £88.2 million by the end of the 2018/19 financial term.
The organisation, which runs hospitals in Lincoln, Boston and Grantham, is currently in financial special measures and set to discuss and set next year’s targets with regulator bosses.
It means the organisation is £1.2 million below the target agreed with the trust’s regulator.
Director of finance at ULHT, Paul Matthew, said the trust faced “major operational pressures” this year, but added they can still improve.
“We do acknowledge that there are improvements to be made in our financial position and we are setting out a five year financial plan with the ambition to return to financial sustainability during this period,” he said.
“Progress has been made in the last six months in stabilising the financial position, hitting the financial plan in each of these months with a year-end forecast of £88.2 million, £1.2 million better than of the target £89.4 million.”
Mr Matthew added that ULHT will now look to agree a deficit target of £70.3 million with NHS Improvement for the next year.
He said the trust hopes to meet the target by increasing productivity and quality in services and a “targeted recruitment drive”.