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The scale of the financial cutbacks are too big to dismiss without looking at process changes as per John Harvey's comment. Here is an example of a saving that can be made through better processes.....

I remember a patient who needed a procedure, the notes from 1 week before said 'pt needs x, bed crisis, therefore to stay in for 1 week till x can be performed' - If the doctor writing that had been sure that a bed was available, the patient would have gone home - saving 1 week's spend on an acute hospital bed that instead was spent on providing NO TREATMENT.

Doctors can do better than simply looking forward to managerial cuts while they control the spending on valuable resources through what they do with patients. Doctors should make every £ count.