The United Kingdom government has laid out its plans to reform the nation's public health service, with a 23-billion-pound ($29 billion) funding boost aimed at reducing waiting lists and improving efficiency across the healthcare system.

The funding for the state-run National Health Service, or NHS, was announced on Oct 30 as part of a budget that included sharp rises in tax, spending, and borrowing.

In a statement released on Wednesday, Health and Social Care Secretary, Wes Streeting, said: "We are announcing the reforms to make sure every penny of extra investment is well spent and cuts waiting times for patients.

"There'll be no more turning a blind eye to failure. We will drive the health service to improve, so patients get more out of it for what taxpayers put in.

"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."

Under the plan, persistently failing managers will be replaced and specialized turnaround teams will be deployed to hospitals that are struggling financially and delivering substandard care, with the goal of reducing waiting times from 18 months to 18 weeks, said the statement.

Economists have linked the UK's shrinking workforce to extended treatment delays, which have left many people too ill or unfit for work, reported Reuters.

The changes will also introduce performance rankings for NHS providers, allowing successful organizations to reinvest budget surpluses into infrastructure and equipment upgrades.

Additionally, the government will explore regulations to prevent healthcare workers from leaving their NHS positions only to return as higher-paid agency staff.

An independent investigation led by Ara Darzi into England's NHS, which was published in September, revealed a fundamental flaw in leadership incentives.

It noted that: "The only criteria by which trust chief executive pay is set is the turnover of the organization. Neither the timeliness of access nor the quality of care are routinely factored into pay. This encourages organizations to grow their revenue rather than to improve operational performance."

In response to the announcement, Rachel Power, chief executive of the Patients Association, a UK healthcare advocacy group that champions patient rights, said: "These reforms signal an important drive for positive change in our health system. The focus on tackling poor performance and rewarding excellence sends a clear message about raising standards across the NHS.

"The proposed support teams for struggling trusts could be particularly effective if they include patient representatives and focus on building a culture of patient partnership. This is an opportunity to combine better management with deeper patient involvement – creating an NHS that is both more efficient and more responsive to people's needs."