To ask the Secretary of State for Health, what powers are available to Accountable Care Organisations to raise funds from financial institutions.
No Accountable Care Organisation yet exists in the National Health Service in England, as no contract to commission a provider organisation to operate in this way has yet been awarded. In the very small number of pilot areas in which this process is well advanced, indications are that the lead provider will be a NHS foundation trust. The powers of an NHS foundation trust to borrow are prescribed by section 46 of the NHS Act 2006 and related statutory provisions.
NHS foundation trusts are not-for-profit, public benefit corporations. They are part of the NHS and can retain any surpluses they make in order to invest in services for patients and service users. They can also, subject to the conditions set by their regulator, NHS Improvement, borrow money for the same purpose. All of their activities are subject to meeting the requirements of the regulator.