As part of our wider improvement plan, we are focusing on financial sustainability.
Our Cost Improvement Plan (CIP) for financial year 2026/2027 remains a challenge but the progress we have made will stand us in good stead. As a result of working together and your focus on delivering value for money, in the last year we have achieved a significant cost improvement plan (CIP).
Every Trust in the country has a CIP, so we are not alone in the size of the challenge in needing to improve our financial outputs.
What are we doing?
Like last year, we will focus on site-based management of the CIP by Hospital Leadership Teams and Corporate teams, rather than a centralised approach. We know that those closest to day-to-day management are best placed to identify and manage cost improvement opportunities, and this is critical in how we continue our journey of becoming financially sustainable for the future.
How can I get involved?
Although one-off savings are great, we need to find recurrent ways of sustaining our position and establish savings into permanent cost reductions. The Saving Together inbox is still live and a great way to submit any ideas you may have on how we can find efficiencies or deliver value for money.
Everyone has a role to play in supporting cost improvement. As part of our work to deliver improved financial sustainability at LUHFT, we are asking all colleagues to consider what you can do at a service level to make a difference.
It could be as simple as making sure you turn off the lights in your office or ensuring that you shut down any electrical items, such as your laptop or desktop computer, when you leave for the day.
You may have an idea on how you could improve a process in your area – as often when we improve quality, we almost always reduce cost too. By working together and re-thinking the way we do certain things, we can improve quality, productivity and reduce waste.
We want to shine a light on your great ideas and hopefully inspire others to get involved. It could be that something you are doing with your team or on your ward could be mirrored by others in the Trust. So please get in touch and tell us what you’re doing, and we can share it with Team LUHFT!
Get in touch
You can contribute any ideas you may have, or share your savings success stories, by emailing: SavingTogether