Manx Care says it is committed to reducing its forecast £19.2 million deficit before the end of the financial year.
It says it has strengthened financial controls and expects the forecast deficit to reduce.
The forecast deficit is included in a report to Manx Care’s latest board meeting.
Chief executive Chris Stockport said: “The £19.2 million figure is a prudent forecast, not where we want or expect to finish the year.
“We have put stronger financial controls in place, improving financial governance, and are working hard to reduce the deficit further.”
He added: “There is still a significant financial challenge and we cannot take our foot off the pedal. We have to get the finances under control while continuing to provide safe care and improve access to services.
“We expect the measures already introduced to reduce the forecast deficit over the remainder of the year.”
Prudent Forecast
Manx Care describes the £19.2 million figure as a “prudent forecast” based on pressures currently facing health and care services, including potential winter demand and costs relating to previous financial years.
It says the forecast does not assume the use of a £10 million contingency provision, which has not yet been drawn down.
The financial position remains challenging, it says, and the controls introduced need to continue.
While confident the deficit will be reduced, it warns winter demand on health services will be an “important factor”.
