Private mental health providers made £1.37million a day from the NHS in 2020-21, figures suggest.
Yet four in 10 services from main providers are “inadequate” or “require improvement” for patient safety.
Shadow Mental Health Minister Dr Rosena Allin-Khan wants the Tories to hire more NHS mental health workers to cut crippling waiting lists.
She said: “Every day is Christmas for the shareholders of private mental healthcare companies.
“While waiting lists grow and patients are receiving inadequate treatment, private providers are laughing all the way to the bank.
“ Labour will recruit an additional 8,500 staff ensuring early support for everyone within four weeks, and access to counsellors in every school, so everyone can get the early treatment they need.”
The estimated bill is based on data obtained by Labour, showing NHS trusts spent £501million on private mental health services – a 300% rise in 10 years.
Director pay in the sector was as high as £1.1million in 2020-21.
The sums were criticised by Lorraine Shah, whose daughter Nadia, 16, took her own life at Elsyium’s Potters Bar Clinic, Herts.
Lorraine, 49, said: “It seems wrong we are giving money to these private companies when they are failing our children.”
The Care Quality Commission found mental health provision at 12 Elysium sites requires improvement for patient safety.
Four were inadequate, and 27 were good. Eighteen Priory hospitals required improvement, four were inadequate, 25 were good and one was outstanding. Cygnet had four inadequate ratings, 19 which required improvement and 31 good.
The Department of Health and Social Care said: “We’ve committed to increase investment by £2.3billion a year. Two million additional people will access support and we’re aiming to grow the mental health workforce by 27,000.”
Cygnet said: “The CQC listed 77% of all mental health services were good or outstanding. Patient safety is our utmost priority.”
Priory said “the vast majority” of its overall services were rated good or outstanding. Elysium was approached for comment.
