NICE publishes annual accounts for 2017/18

The National Institute for Care and Excellence (NICE) has published its annual accounts for 2017/18. From March 2017 to March 2018, NICE’s operating expenditure was £66.9 million, down 6.2% from £71.3 million the previous year. Of this, by far the largest expenditure category was spending on staff, which made up 50.0% of total expenditure. The next largest categories were spending on Guidance Development Centres (11.9%) and external contractors (8.1%).

This decrease reflects a similar reduction of NICE’s annual income between 2016/17 and 2017/18. Whilst NICE’s operating income stayed largely static, decreasing by just 1.2% from £16.7 million to £16.5 million, the funding NICE received from the Department of Health and Social Care fell by 5.7% from £58 million to £54.7 million. The actual amount NICE withdrew from this funding was just £51 million, a 9.9% decrease from the previous year’s value of £56.6 million.

The fall in NICE’s funding and expenditure comes in the context of NHS England’s efficiency target of 2% per annum as part of the Five Year Forward View. The target aims to close the gap of £30 billion between resources and patient needs that is predicted to arise by 2020/21 as a result of increased demand.

To read the annual accounts in full, click here:

Tagged with

Published 10. July 2018 in News, News UK