The Government pumped more than half a billion pounds of emergency funds into cash-strapped NHS trusts last year, according to a "deeply alarming" report.
The MP who chairs the influential Public Accounts Committee said the findings by the National Audit Office showed "the future sustainability of the NHS is at risk".
The government has had to prop up cash-strapped NHS trusts and foundations with over half a billion pounds in emergency funds this year, a "deeply alarming" report from auditors said.
An extra £511 million was spent on bailing out struggling NHS trusts in 2013-14 alone, according to the National Audit Office (NAO).
This was double the £263 million given to failing trusts the year before as funds had to be diverted to an extra 16 trusts which had not previously needed extra cash.
Some 25 NHS trusts had fallen into the red by the end of 2012/13, but this number has more than doubled over the last 12 months and peaked at 63, the NAO said.
The report said the gross deficit of health trusts rose by 150% from £297 million in 2012/13 to £743 million in 2013/14.
Margaret Hodge, chairwoman of the Public Accounts Committee, said the "deeply alarming report" showed the future sustainability of the NHS was at risk.
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