What Is a Foundation Trust
Foundation Trusts are Public Benefit Corporations which operate
in a similar way to the Co-operative Society. They have literally
thousands of ‘members’ who help us decide how we develop and, just
as importantly, will hold us accountable for the way the service is
run. This will ensure that our main focus is on the delivery and
quality of our service to you, our patients.
What are the benefits
There are some real benefits to becoming a Foundation Trust.
Among those that we believe will help us develop are:
- Patients, local people and our own staff will have a greater
say in what happens to the Trust
- It will give staff a greater influence on how the Trust
develops the services they work in
- We will be looking for partner organisations such as the
universities and local authorities to become more involved in the
development of our business plans
- Being a Foundation Trust would allow us to operate more
flexibly
- Increased staff training and development opportunities
- We will be run much more efficiently and effectively which will
improve job security
- We would be able to use any money not spent at the end of each
financial year to improve services
The FT Process
There are three assurance stages to becoming a Foundation
Trust. The Trust passed through the first stage in late 2011
having received the approval of NHS Midlands and East.
Our application progressed to the Department of Health (DH)
assurance stage. Following consideration by the Medical
Directors Committee and Applications Committee the next stage
is to the Secretary of State for approval. The final
step is to the regulator ‘Monitor’ for independent
scrutiny. Accreditation as a Foundation
Trust is likely to be approved in 2012.