North London Hospice has published its annual Impact Report and Audited Accounts for 2023/24. The report measures where we are as an organisation against the objectives set out in our Strategic Plan. You can read the report online and some key points are highlighted below.
Demand on our services has increased
Demand on our services has increased over the past year. We cared for more people on our Inpatient Unit (+ 7.18%) and more people accessed our Outpatient and Wellbeing services (+5.6%) but the largest rise in demand was within the community, which saw an increase of 12.1% on last year.
We are continuing to face many challenges as an organisation. A significant deficit of nearly £3m in 22/23 highlighted the need for future sustainability and a plan to achieve a balanced budget, whilst continuing to deliver excellent care.
Moving towards a balanced budget
Whilst there was a surplus in 23/24 of £1.6 million, as a result of an unexpected donation from a trust fund, and other factors, this was very much an exception. Without these items there would have been an underlying deficit of £2 million. As such North London Hospice is entering a period of transition to make us more sustainable as an organisation.
Our transformation plans will ensure that we are enhancing services to meet the changing needs of our communities and working in more agile and sustainable ways. As we work towards a balanced budget, we will also diversify our income generation, as well as make considerable investments in retail and on our Inpatient Unit.
Looking to the future
Our Inpatient Unit was built more than 30 years ago and is in need of significant upgrades to meet the changed needs of our patients. This will be an ambitious undertaking and will bring major benefits to our patients in the future.
Declan Carroll, Chief Executive of North London Hospice said: “This report highlights the range of work that we undertake in service of our community. I would like to thank our staff and volunteers who work so hard to put the patient at the heart of everything we do. We have much to be proud of but we also must ensure that we are fit for purpose for the future. We are working to ensure that we are financially sustainable as an organisation and taking decisions with our long-term stability in mind so that we can continue to provide the best of life, at the end of life, for everyone.”
