So although we remain a part of the NHS, as a Foundation Trust we have more freedom to develop the type of health services needed for our particular patients and community.
As a Foundation Trust, we have the financial freedom to raise money from both the public and private sectors – provided we can afford the repayments – to invest in new buildings and equipment. We’ll also be able to keep any financial ‘surpluses’ we make for reinvestment in the delivery of NHS services.
Although we will continue to work closely with NHS ‘partner’ organisations in our area we’ll also be able to develop new business links with other healthcare providers where they can help us to develop new and better services.
A Foundation Trust operates under ‘terms of authorisation’. These include such things as
If we breach these ‘terms of authorisation’, Monitor (the independent regulator) has the power to intervene.
The Compliance Framework sets out how the Trust will report its plans and performance to Monitor.