What are the benefits of becoming a Foundation Trust?
This table summarises some of the benefits of Foundation Trust status
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Existing NHS hospitals Trust
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NHS Foundation Trust
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Department of Health and local Health Authority are responsible approving decisions made by the Trust on big financial investments in order to improve its buildings and services
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A Foundation Trust is free to make decisions for itself, based on local needs and evidence that it would bring benefits to the local population
The decisions can be made much more quickly than before
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Controls to the use of surpluses finances exist – any extra income that the Trust has at the end of the year might not go to local services
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No controls - Able to use all of its finances for local health services
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Focus on meeting Government targets
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Still meet Government targets so that everyone has the same treatment on the NHS, but able to focus on local health needs as well
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Involvement from patients in individual services
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Still have valuable involvement from patients in individual services, but also have involvement of membership in the whole Trust, helping to shape its future plans; the Foundation Trust will listen much more to local views and expectations through membership
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Need to wait for financial allocations from local PCTs or the Department of Health to invest in improvements
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Can borrow money when required for small and medium-sized improvements and make changes quickly. A Foundation Trust can only borrow money if it can afford to repay it; a Foundation Trust is expected to make good business and financial decisions.
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Provides clinical services based on past requirements
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Can respond more quickly to changing needs, such as a bigger population or greater number of cases of a particular condition (i.e. diabetes, heart disease etc) and use its resources in the most beneficial way to its local patients, as well as using guidance from the Government
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Plans only made for the next 1-2 years
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Need to have a clear plan for the next five years with your input, making sure we understand the challenges ahead and have a clear idea on how we will deal with those challenges, including what money, staff and facilities we will need in the future.
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