Great Western Hospitals NHS Foundation Trust has agreed to better manage its money, following an investigation by health regulator Monitor.

Monitor found the trust in breach of its licence to provide services to patients in Swindon and Wiltshire, because it lacked both a robust financial recovery plan and a plan to ensure it continues to provide services for patients in the long term.

In a statement a spokesman said: "In particular, the trust needs to increase its efficiency, for example with how well it manages the money it spends on agency staff, and how effectively it discharges patients once their treatment is complete.

"In recognition that the trust can’t fix all of these problems alone, Monitor has been coordinating action between local health organisations to help reduce costs while ensuring patients across Swindon and Wiltshire continue to receive services.

"Monitor will continue to scrutinise the trust’s performance as it delivers plans to fix its problems, and will take further action for patients if necessary."

In a statement on its website, the Great Western Hospitals NHS Foundation Trust said: "Over the coming months we will be providing assurances to Monitor, the regulator for health services in England, that we have plans to improve our financial position.

"We have been working with Monitor since October and have agreed to a series of actions to improve our financial performance, sustainability and governance.

"We will also be developing a financial recovery plan to get our books back into balance, but it will take time. 

"Despite our financial position, no concerns have been raised about the quality of treatment and care we provide to patients. 

"Our finances are a big challenge which cannot be fixed alone.

"Together with our local health and social care partners we must address the increasing demand for healthcare.

"We are already working with other local health and social care organisations to ensure that patients can leave hospital when they no longer need this level of care, making space for those who do. 

"Over the coming months we will be providing assurances to Monitor that we have the capacity and capability to build a financially secure future, whilst maintaining safe and high quality patient care."