NHS financial temperature check – infographic November 2017
Emma Knowles and Lisa Robertson
05 December 2017
This infographic accompanies the HFMA’s NHS financial temperature check November 2017 briefing, the eight in a series of HFMA briefings setting out finance directors’ views on the financial issues facing the NHS in England.
The NHS financial temperature check provides a national picture of finance directors’ views of the financial outlook and the challenges NHS finance staff are facing. To accompany our briefing we have produced this infographic summarising the key messages.
2017/18 is proving to be another very challenging financial year for NHS organisations. For the first six months of 2017/18, NHS trusts collectively reported a combined £1.15bn deficit (after receiving £630m from the sustainability and transformation fund) and CCGs collectively reported a £186m overspend against plan. The financial challenges will continue.
Savings requirements are exceptionally demanding. National bodies recognise that they are high risk, with fewer non-recurrent solutions available and a greater proportion of cost improvement savings weighted in the second half of the financial year.
Access to capital and the separate regulatory arrangements for trusts and CCGs are highlighted as barriers to effective working of sustainability and transformation partnerships (STPs).
Finance directors are most concerned about delivering the high level of efficiency savings required, workforce gaps and realism over what can be delivered with the existing funding envelope. The pressures continue.
To read our blog 'Difficult decisions ahead', please click here