NHS May Face Financial Crisis Due to Economic Deficit

By: Privatehealthinsurance247.co.uk  02/11/2012
Keywords: health insurance, medical insurance, private medical insurance

Most of UK hospital trust are facing financial trouble and expected to be getting worse if government will not take some restrictive steps immediately. Reports say that trust hospitals have hundreds of billions of unpaid debts and these may go for bankruptcy. One out of five hospital trusts is in financial deficit. It is expected that economic situation of these health care trusts will become more difficult when CCGs (clinical commissioning groups) take over. NHS reported that it has surplus financial situation in 2011-12. Yesterday (30 Oct.) a report has been released in which the House of Commons public Accounts Committee MP’s has told that overall financial figure cover the significant minority f trust. Hospital trusts which are in financial trouble are covered in NHS surplus.

Primary care trust (PCT) or strategic health authority managers were saved the poorly performing hospital trusts in past when they had difficult financial situation. This year, situation can become worse than the year before. The way through which the trusts supply their services should be alter drastically in order to save money as expected by the CCGs. Three primary care centre, twenty one NHS foundation trust and ten NHS trusts reported combined fiscal deficit of £356 million. The information has been revealed by the committee after reviewing financial data of 2011-12.

Reports have also added 69 other trusts regarding the uncertain financial situation. Crawley CCGs accountant officer Dr. Amit Bhargava has said in his report that with the economic downturn the whole NHS is in uncharted water in change. However, people having health insurance coverage will not face difficulties in primary care that occurs after uncertain and trouble situation of NHS.

Keywords: health insurance, medical insurance, Private Health Insurance, private medical insurance

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