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06 Aug 2020 - 08 Aug 2020

NHS Receives Funding to Help Rebuild Hospital Finances

By HospiMedica International staff writers
Posted on 28 Dec 2015
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The UK Department of Health (DH; London, United Kingdom) has announced a GBP 1.8 billion sustainability and transformation fund to provide the National Health Service (NHS) with the resources it needs to achieve a financial balance for challenged hospitals and to focus on changing the way they provide high quality care for patients.

The transformation fund, which will be allocated dependent on hospitals meeting a series of strict conditions, will give the NHS the time and space it needs to put transformation plans in place. The GBP 1.8 billion is part of a larger, GBP 3.8 billion front-loaded funding boost intended for 2016, which will help trusts reduce their deficits and allow them to focus on transforming services to deliver excellent care for patients every day of the week.

The funding will be broken down into two parts. A proportion of the sum will be distributed to all providers of emergency care, linked to demonstrating initial progress against conditions outlined by the DH and the setting of agreed control totals with NHS Improvement. A second element will be used to target providers which can deliver additional efficiencies and improvements. According to the DH, Both elements of the fund will put trusts in a stronger financial position to make sure patients benefit from a world-class NHS for decades to come.

“This government is committed to the values of the NHS, which is why we are investing GBP 10 billion in its own plan for the future, including GBP 6 billion upfront by next year,” said UK Health Secretary Jeremy Hunt said. “We are offering trusts help to improve their financial position and transform services for patients based on that planned investment, subject to strict conditions. This will allow hospitals to focus their efforts on making the NHS a truly seven day service, offering the same excellent world class care every day of the week.”

“It was right to use a meaningful chunk of the funding increase to help get hospitals back on their feet,” said Simon Stevens, CEO of NHS England. “ As that happens, we need to accelerate care redesign and free up a rising share of the NHS’s new investment for critical priorities such as primary care, mental health, and cancer services. The NHS’s five-year funding allocations being agreed at the NHS England public board meeting tomorrow aim to do just that.”

“The test for a transformation fund will be whether it allows the NHS to invest in new models of care, while ensuring current services are sustained,” commented Rob Webster, CEO of the NHS Confederation. “This is a tough challenge and front-loaded funding agreed by the Treasury gives the NHS a small window to do this over the next few years. The service now needs to develop a roadmap for recovery.”

Related Links:

UK Department of Health
National Health Service

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