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Radical change is needed to make the NHS in England financially sustainable, MPs say.
The Public Accounts Committee (PAC) says growing deficits mean there is less money available to invest in better ways of working.
Chairwoman Margaret Hodge says of all the committee's work across government, NHS finances are her biggest worry.
The government says most trusts are forecasting a surplus, but all know "financial discipline" is important.
The PAC report concludes that NHS finances are getting worse - and it is getting harder to do something about it.
It points out that the proportion of NHS trusts and foundation trusts in deficit increased from 10% in 2012-13 to 26% in 2013-14.
The MPs say the problems are particularly bad for hospitals, with 80% of acute foundation trusts reporting a deficit half way through the current financial year, according to the regulator Monitor.
http://www.bbc.co.uk/news/health-31097983
The Public Accounts Committee (PAC) says growing deficits mean there is less money available to invest in better ways of working.
Chairwoman Margaret Hodge says of all the committee's work across government, NHS finances are her biggest worry.
The government says most trusts are forecasting a surplus, but all know "financial discipline" is important.
The PAC report concludes that NHS finances are getting worse - and it is getting harder to do something about it.
It points out that the proportion of NHS trusts and foundation trusts in deficit increased from 10% in 2012-13 to 26% in 2013-14.
The MPs say the problems are particularly bad for hospitals, with 80% of acute foundation trusts reporting a deficit half way through the current financial year, according to the regulator Monitor.
http://www.bbc.co.uk/news/health-31097983