Labour Critical of NHS Hedge Fund Plan

A major argument is brewing over plans to borrow £10 billion from hedge funds in order to finance hospital repair and infrastructure projects in the NHS. Health bosses believe that low interest rates make this proposition an enviable prospect. Thus, it has been suggested that an infrastructure funded partly by private cash could enable local services to apply, and create a flexible pot of funding. Senior NHS executives are already discussing the matter with several hedge funds, and Jim Mackey,... Readmore

NHS Trusts Heading for £500 Million Deficit

The body responsible for representing NHS trusts has warned that the organisations will accumulate a collective deficit in excess of £500 million over the next 12 months. It was hoped that NHS trusts would return to financial parity in the 2017/18 financial year. But NHS Providers suggests that in the existing financial climate this target will be unachievable. Chris Hopson, the chief executive of NHS Providers, outlined the current struggle that critical NHS organisations are experiencing... Readmore

Review Suggests £10 Billion NHS Funding Increase Required

A major government review of property and estates has concluded that at least £10 billion of capital funding is required in order to deliver sustainability and transformation plans. Proposals required in order to ensure that NHS facilities are fit for purpose will also be included within this figure. The review has been conducted by by former University College London Hospitals Foundation Trust chief executive Sir Robert Naylor. And although the £10 billion figure may be worrying, the report... Readmore

Interest Rates for Troubled Trusts Strongly Criticised

Interest rates of 6% are being charged on the bailout loans taken out by the most financially disadvantaged NHS trusts in England. Experts have suggested that this is an extremely insidious policy that is effectively punishing some of the most vulnerable patients in Britain. Indeed, evidence indicates that those trusts currently in financial special measures can pay up to 400% more on working capital loans than other organisations. The Department of Health claims that this reflects the additional... Readmore

NHS England £800 Million Fund Diversion Slammed by Healthcare Bosses

The decision to divert £800 million of primary, community and mental health care funding into dealing with the NHS deficit has been condemned by doctors' leaders. New Treasury rules dictate that the funding must be utilised in order to address the growing fiscal problems of the healthcare system. NHS England has already written to commissioners across the healthcare system indicating that the entirety of the proportion of their budgets intended to mitigate financial risk must indeed be utilised... Readmore

£250 Million Increase in Funding for Scottish GPs Announced

It has been revealed that funding for general practice will be increased by £250 million annually by 2021. Meanwhile, increases in funding worth £71 million will be instigated in the forthcoming financial year. These figures were revealed by Cabinet Secretary for Health, Wellbeing and Sport Shona Robison at the Scottish LMCs conference. The additional funding announced at the conference represents around 50% of the £500 million rise in overall funding for primary care that was previously... Readmore

Hammond Announces £325 million Funding to Support Sustainability and Transformation Plans

The Chancellor of the Exchequer has announced that the Sustainability and Transformation programme will be propped up with an additional £325 million worth of funding. Philip Hammond stated that the investment will be spread over the next three years. It is also believed that further funding will become apparent in the autumn budget. Indeed, Hammond stated that “at autumn budget I will announce a multi-year capital programme to support implementation of approved high quality STPs.” But... Readmore

Experts Bemoan State of NHS Finances

Experts believe that the financial position of the NHS is increasingly precarious, citing the evidence of hospitals cancelling tens of thousands of operations recently. The cancellations occurred in order to avert what could have been a true crisis during the winter months, despite the fact that weather conditions were rather mild and thus conducive to general good health. And the King's Fund suggests that the extra demands created during December and January will have a significantly negative... Readmore

Top NHS Chief Executives to Command £250K Salary

Guidance released by NHS Improvement suggests that the best performing chief executives at the largest NHS acute trusts could legitimately command salaries of over £250,000. This salary ceiling is included in new guidance on pay levels for very senior managers in the NHS, which provides indicative salaries for the highest ranked manager roles in acute, specialist, mental health, ambulance and community trusts. The guidance illustrates that there is a potential 34% gulf between the median pay of chief... Readmore

Public Accounts Committee Urges Government Focus on Financial Challenges

The Public Accounts Committee has weighed in on what it deems to be unsavoury public bickering between Theresa May and the NHS. This conduct should be considered an “insult to taxpayers” considering the serious financial challenges facing the healthcare system, the influential parliamentary committee asserted. Despite the perilous financial position of many trusts, most have been unable to craft an explicit plan to revisers the situation, according to the Public Accounts Committee. Public... Readmore

Government Under Pressure on NHS Business Rates Hike

The government's is coming under significant pressure to prevent an increase in business rates for hospitals. An alteration in the way that the business rate system operates means that hospitals face a significant increase in charges in the coming months This growing financial burden is set to cause massive problems for many organisations and institutions within the NHS system. Changes to the way that business rates operates mean that nearly 1,250 NHS hospitals will see their bills increased... Readmore

East and North Hertfordshire Trust Reports Financial Gloom

The East and North Hertfordshire Trust has announced a significant deterioration in its financial position, with the trust now expected to accumulate a £28 million deficit by the end of the fiscal year. This is despite the fact that East and North Hertfordshire Trust had been set a financial control total of an £8.6 million deficit by NHS Improvement. Back in November, an official provider sector report from the regulator indicated that the trust was indeed on track to achieve this figure. But... Readmore
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