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Should FT board members invest?

24th June 2006

05062006_healthreport1Q.jpgFoundation trust board members must be willing to invest their own money in their organisations to show their confidence in its strength.

Moorfields Eye Hospital foundation trust chair Sir Thomas Boyd-Carpenter told delegates at the NHS Confederation conference in June, that executive board members must ask themselves whether they would theoretically invest £100 in their organisation to show that it was a ‘viable and credible business’.

Moorfields chief executive Ian Balmer agreed, saying that foundation trust boards must focus on risk to a much greater degree than previously.

However, he also warned that too much emphasis on that risk from Monitor, the foundation trust regulator, could stifle innovation. ‘It’s not unreasonable for us [the board] to focus on risk from time to time but we may be focussing on it more than necessary because of the regulatory regime,’ he said.

Mr Balmer told delegates that there were ‘mixed messages’ as to what degree foundation trusts could be entrepreneurial under the regulatory framework.

He was also critical of the ‘interplay’ between the different regulators: Monitor, the Department of Health and the Healthcare Commission.

 

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