From the Kings Fund:
The NHS in England is a £100 billion-a-year-plus business. It sees 1 million patients every 36 hours, spending nearly £2 billion a week. Aside from the banks, the only companies with a larger turnover in the FTSE 100 are the two global oil giants Shell and BP. If the NHS were a country it would be around the thirtieth largest in the world.
If anything, our analysis seems to suggest that the NHS, particularly given the complexity of health care, is under- rather than over-managed.
From personal experience, a large proportion of management are actually ex-clinical staff, many ex-nurses, so the assertion that they don't know what goes on in hospitals, is also somewhat inaccurate.
However, also from personal experience, the number of incompetent staff who are "let go", seem to walk in to other jobs with ease, the ever-revolving door of NHS employment opportunity, because they won't recruit from industry, only from within their own cohorts.