Meanwhile, senior leaders will be denied pay rises if key improvements are not made.
A new pay framework, external for chief executives will be published in April, which will “clamp down” on poor performance while rewarding success.
Streeting told the NHS Providers conference, external this morning there would be “no more turning a blind eye” to failure – something he has promised before, along with the idea of league tables., external
“We will drive the health service to improve, so patients get more out of it for what taxpayers put in,” he said.
“Our health service must attract top talent, be far more transparent to the public who pay for it, and run as efficiently as global businesses.”
Speaking to BBC Breakfast, Streeting said frontline staff were not to blame for poor NHS performance, but the NHS needs to be “better managed”.
He also promised to “incentivise and reward the best leaders to go into the most troubled trusts” to ensure poor-performing hospitals do not get stuck at the bottom of league tables.
These reforms focus on raising the “quality of leadership”.
“There are some outstanding leaders, but rotten apples are unacceptable and give the rest of the profession a bad name,” he said on the BBC R4 Today programme.
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