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British Health Industry Essay

2095 Words9 Pages

Critically assess the main causes of short term financial pressures in British Health Industry – An Empirical Study of the NHS

Introduction
The rising operating cost and social demands towards health care, alongside a tightening budget, the NHS is faced with a difficult decade. The productivity challenge identified in 2009 seems to remain challenging in the second half of the decade given the tough economic and fiscal outlook. Internally, the NHS is faced with increasing budgetary constraints, an extensive reorganization, a long-lasting structural reform and a new regulatory framework. Therefore, as the publicly funded health care system, the financial health of NHS is greatly impacting the whole health industry of UK. In this sense, this paper aims to critically assess the reasoning behind the financial pressure in healthcare industry of UK. Specifically, the paper will focus on financial health and management performance of NHS (National Health Service). To uncover the unprecedented financial challenge and analyse organizational changes occurred of past years, it will identify the weakness of current management within the organization and the driving factors of …show more content…

Especially during 2013-2014, it showed the sign of stress. Some of the service providers were enrolled into special measuring program due to the failing quality of service, and many of them were involved in overspends. The following section illustrates the detailed financial performance. With a net deficit of £241 million reported in 2013/14, against a projected net deficit of £76 million, the financial pressure of NHS became increasingly concerning. 25% of trusts ended up in deficit during fiscal year 2013-14 (Healthcare Financial Management Association 2014), while it was just 5% over 2012-2013. Although the deficit per quarter was forecasted to fall but the overall size of it will

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