WHIPPS Cross Hospital's financial management has been rated as “weak” by new watchdog the Care Quality Commission (CQC).

But the CQC report also found the Leytonstone's hospital's quality of services to be “excellent”, the highest possible standard, and was rated “good” overall.

The CQC, which from April will have the power to close underachieving hospitals, assessed England's 392 health trusts and found more services rated as good or excellent than last year.

East London Ambulance Service was given a disappointing overall rating of “fair”, but was rated “excellent” for financial management.

Colin Hough, CQC regional director, said: “We are concerned at the performance of the 15 trusts scoring weak for either quality or financial management, and Barking, Havering and Redbridge Hospitals NHS Trust, which scored weak for both.

“The onus is on their management boards now to address their weak areas before the government’s new registration system is introduced. “

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