SWANSEA Bay University Health Board could end the 2024-25 financial year with a £43.7m deficit.
Steps including a recruitment freeze were taken in December to trim costs because the forecast deficit at that point was even higher at £57.9m.
It’s hoped these steps will mean the health board ended the 2024-25 financial year, which finished on March 31, £43.7m in the red.
A board report said a financial “break-even” position was achieved two years previously followed by a £17.1m deficit the year after. Board members said the current position wasn’t sustainable at a meeting last week.
The report said staff pay was £2.1m higher than planned in February, mainly due to continued staff sickness and pressures on unscheduled and critical care.
The health board also has a £59.2m savings target for 2024-25. As of February it was forecast to achieve £51.1m of them meaning a further £8.1m was needed.
The health board covers Swansea and Neath Port Talbot, has more than 12,000 permanent staff, and spends well over £1bn per year. According to its latest accounts its net operating costs were £1.28bn in 2023-24 with staff remuneration ranging from £22,720 to £314,381.
