NHS trusts' deficit more than seven times higher than a year ago
NHS trusts in England saw their deficits swell to to £822m in 2014-15, from just £115m a year earlier.
Health regulator Monitor, which assesses NHS tusts before they can become NHS Foundation Trusts as a matter of quality control, revealed that higher spending on agency nurses drove the increase.
Foundation trusts, which account for roughly two-thirds of all English trusts, run hospitals, ambulances and mental health centers independently.
"The sector can no longer afford to operate on a business as usual basis, and we all need to redouble our efforts to deliver substantial efficiency gains in order to ensure patients get the services they need," warned Dr David Bennet, Monitor's chief executive.
This will no doubt involve some significant changes to the way people work at some institutions, but as the regulator we believe there is scope for more to be done at a number of levels without compromising patient care," he added.
Figures are set to be even worse for the coming financial year.