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Doctors need to get finance savvy

20th July 2009

The Academy of Medical Royal Colleges and the Audit Commission have said hospital doctors could improve efficiency if they understood more about finances.

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They have published a guide to show doctors how to be more aware of how the health service's £100 billion budget is used.

A set amount has been promised for NHS funding until 2011. However predictions have been made that the budget will be decreased after that date.

Health trusts have already begun to explore ways of reducing costs but the two organisations said doctors played an essential role in reducing spending.

The groups said all doctors - from junior doctors to consultants - could play a part. They pointed to the fact that doctors spent a considerable amount of the budget on prescriptions, testing and treatment.

They also said medical students needed to be taught about finances and the health service should provide training for qualified doctors.

Andy McKeon, managing director of health at the Audit Commission, said: "We are not asking them to become accountants, we just want them to take more of an interest in finances and use it to inform their decision-making."

"I can understand some will fear it is about getting them to spend less, but I think if they engage with the issue and take responsibility for it they will be able to find new ways of working that are more efficient."

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Article Information

Title: Doctors need to get finance savvy
Author: Jess Laurence
Article Id: 12205
Date Added: 20th Jul 2009

Sources

BBC News

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