If I was in charge of the NHS there are 2 areas in which I would start investing.
1. Diagnostics - pathology and radiology. Screening programmes. This would improve early diagnosis and treatments in less bed intensive settings.
2. District Nurses - probably the most undervalued staff by decision makers. They have the skills to support patients in the community where they usually prefer to be treated.
And of course tackle the health/social care interface disaster.