Appointed as Turnaround Director and latterly Chief Operating Officer
The Acute Trust (£150m turnover) and the local health economy faced a considerable financial challenge and a requirement to reduce costs by over £20m and reduce staffing by about 260 WTE over a two year period.
There was an immediate requirement to save £12m in that financial year
Kingsgate were engaged by a new chief executive who was committed to delivering significant change in a short period of time.
How We Helped
Increased grip and control and changed the pace of delivery to secure the in-year position
Developed and agreed a turnaround programme, launched by the Chief Executive 4 weeks after engagement to deliver a circa £20m two year savings plan.
Led weekly reviews with Clinical Directors and Heads of Nursing across all clinical areas to ensure full buy in to turnaround process and adherence to new financial controls
Facilitated a CEO led communications exercise with a standardised message delivered repeatedly at all levels of the organisation
Break even delivered in year one through £12.25m of cash releasing savings plan (8.5%)
30% reduction in corporate pay costs
38% reduction in clinical administration costs
8% reduction in beds achieved through length of stay reductions
Delivered all access targets in year two
Significant value for money improvements (eg 7% reduction in nursing costs through skills mix and rota management – led by Director of Nursing).
Delivered £21.2m saving (14% of turnover) over a two year period and a surplus position in the second year.
We are a turnaround, transformation and transition business working in challenged or failing organisations who understand how to improve results in difficult environments. We both design and deliver solutions in all stages of turnaround and challenged situations.