NHS faces growing financial pressure, how it effect GBP

NHS faces growing financial pressure, how it effect GBP

by 99binaryoptions on August 11, 2011

The NHS has an uncertain future. What does that have an effect on the Great British Pound (GBP) and other currency markets. Keep these

Sell, Sell Sell 10-4 Charlie

details in mind when trading currency or placing positions on when trading binary options online.  The main thing to remember is that the uncertainty means that it can rally one day, or dive the next, however, elements like the trading volume and speculation buying can help the stats go awry in regards to where the market really stands.

Here is the article, you can read it in full at this link    Thanks to Binary Options Blog for posting this and sharing.

Audit Commission finds NHS made £4.3bn of efficiency savings last year but financial challenges are increasing

Most NHS organisations have made good progress in cutting costs to reach the £20bn savings required of them, but they face growing financial pressure, according to the Audit Commission.

In its report on the 2010-11 financial accounts of primary care trusts (PCTs), NHS trusts and strategic health authorities, the commission says that, assuming there is no double counting, efficiency savings totalled £4.3bn for the year.

PCTs reported savings of £1.9bn and NHS trusts reported savings of £1.2bn. These figures are equival

ent to 1.9% of PCTs’ gross operating costs and 4.3% in the case of NHS trusts. Regulator Monitor reported that the percentage for foundations trusts was slightly lower at 3.9%, which equates to £1.2bn.

The NHS in England needs to save an average of £5bn, equivalent to about 5% of their budgets, every year until 2015 to release £20bn of efficiency savings.

The document warns that financial pressure is increasing. Nearly 25% of the money saved so far came from one-off or non-recurrent savings, mostly improving clinical productivity and reducing workforce costs.

In addition, the need to deliver high-quality services without the funding growth of the recent past will have an impact. In 2010-11 PCTs received average cash funding increases of 5.5%, but in 2011-12 this is only 2.2%.

The document says NHS organisations will require determined effort and strong leadership to make further efficiency savings, and to continue to do so for four years.

Overall, the commission found that the financial performance of the NHS continues to be good, and that organisations reported a surplus of £1.5bn, or some 1.5% of NHS resources. Only nine out of 276 organisations failed to balance their books.

NHS Confederation deputy director of policy Jo Webber said many NHS leaders have got their organisations on a strong financial footing, but are worried that “this might be the calm before the storm”.