Annual Report and Accounts 2012/13 - Royal Devon & Exeter Hospital

2. Our Trust Royal Devon and Exeter NHS Foundation Trust 41
Annual Report and Accounts 2012/13
approximately 5% of turnover) of cost
and productivity gains in each year. It
is becoming increasingly more difficult
to achieve savings in a traditional way;
however the Trust has developed a
transformation programme that will
support the delivery of these financial
requirements whilst at the same
time ensuring services are fit to meet
our patients' needs. The risk of not
achieving this programme remains one
of the most significant risks appearing
in the Trust's Board Assurance
Framework.
We aim to be in the
top three Trusts in our
region for safety.
During the year the Trust revalued its
estate and as a result has reduced the
value of its assets by approximately
£46m. This exercise is purely a
technical one and will ensure the
Trust pays an appropriate amount
of Public Dividend Capital in future
years. However there is a one-off
charge against the Trust's income and
expenditure account which results in
a bottom line deficit for the Trust of
£21.6m for 2012/13.
Both the commissioner and the
hospital, as a provider of services, has
a commitment to make the best use
of available resources to serve the
population of Devon.
Looking forward to 2013/14 and
beyond, the Trust has developed plans
with its new commissioners NEW
Devon (eastern locality) for the number
of patients to be treated. We will work
jointly with the Clinical Commissioning
Group to deliver our combined plan to
develop services to ensure that patients
are treated wherever possible closer
to home and are only admitted to
hospital, when clinically appropriate.