FINANCE bosses at the Royal Bolton Hospital have managed to save £18 million this financial year.
The figures come after bosses at the Bolton NHS Foundation Trust — which runs the hospital and some community services — announced target savings of £73 million in the next five years.
The trust has finished the year once again in deficit but managed to reduce the debt to this years target of £7.8 million.
Simon Worthington, financial director of the trust, told the board of directors: “We know that we have to save £73 million over the next five years but I just want to remind everyone that we have saved £18 million this financial year as well as managing to improve the quality of care.”
The finance team at the Royal Bolton has also managed to draw all cash down from the Department of Health in time for April.
The trust must make savings of five per cent annually as well as diverting cash to the new integrated health and social care fund, starting from the next financial year in April.
It is not yet clear if the cuts — which are affecting all foundation trusts — will result in job losses.
But Trust finance chiefs insist the organisation is in good financial health and say they are confident the savings can be achieved.
The trust also has to factor in the impact of the Better Care Fund set to come into force in 2015/16.
This will see some trusts funding pooled into a new integrated health and social care budget.