Cost-cutting consultant paid 1m by debt-ridden NHS trust now gets 100,000 for a two day week at another struggling hospital
Tim Bolot has six month contract at Queen's Hospital in Burton, Staffs
17:15 GMT, 23 July 2012
Tim Bolot, who was a consultant for Southern Healthcare and is now employed by Queen's Hospital in Burton
A hospital is paying a serial finance 'trouble-shooter' the equivalent of an annual salary of more than 200,000 to rescue it from dire straits.
Tim Bolot is receiving 2,000 a day for a six month contract to save 19 million at Queen’s Hospital in Burton, Staffordshire.
His two-day-a-week role will earn him 104,000.
Mr Bolot, who is a qualified barrister and accountant will oversee spending cuts that will make 150 staff redundant.
It was revealed in the Daily Mail on 26 June, that Mr Bolot was paid the equivalent of nearly 3,000 a day for his advice by South London Healthcare between April 2010 and March 2011.
During this period a total of 1,106,713 was paid to his firm, Bolt Partners, which describes
itself as a ‘leading turnaround and performance consulting boutique’.
his tips, the failing trust has become the first to be put into special
measures, triggering fears departments and wards will close.
Now serious questions are being asked about his role in Burton.
Burton MP Andrew Griffiths has described Mr Bolot’s pay as ‘Premier League level’.
He said: 'These sorts of salaries cause me great concern about how taxpayers’ money is being spent.
'I am left asking: who is actually running Queen’s Hospital'
Mr Griffiths said he has asked Health Secretary Andrew Lansley to examine the massive sums of money handed by Queen’s Hospital to management and financial consultancies.
The hospital has so far paid 2.3 million to six companies including accountancy firm PricewaterhouseCoopers and Mr Bolot’s business, Bolt Partners, for financial advice.
Queen's Hospital in Burton: Trust chief executive Helen Ashley said Bolt gave 'value for money'
Bolt is also providing a second worker,
with the job title ‘programme office lead’, to help Mr Bolot. This
second worker works full time at Queen’s and will receive 200,000 for
the length of Bolt’s six-month contract.
Queen’s has previously been ordered by healthcare regulator Monitor to cut spending or risk its ‘long-term stability’.
Trust chief executive Helen Ashley said: 'The daily rate for the turnaround director is 1,975, which equates to 400,000 per annum as an annual salary based on 200 days’ work.
'The programme office lead is a full-time role with a day rate of 1,450.
'Both of these rates represent value for money when compared with other professional advisory costs. These are experienced consultants and they are playing a crucial role in assisting the trust in meeting its financial challenges.
'Viewed in this context, we believe this is value for money.'
The home of financial consultant Tim Bolot
During Mr Bolt's time working with South London healthcare, the married father-of-two, who owns a 2million house in London, slashed staff numbers and
The 42-year-old also reduced the agency staff bill but some doctors
complained that they were running out of equipment.
In June, Dr
Peter Carter, chief executive of the Royal College of Nursing, branded the consultancy fees a waste of money.
'The trust needs to justify why it paid an interim finance director this
much when nurses and other NHS staff are seeing frontline services cut,
workloads increased and pay frozen.
spending throughout the NHS should be eradicated and resources directed
to the front line where they help patient care.'