75,000 patients have been treated under the National Treatment Purchase Fund since 2002, according to its annual report for 2006.
The report found that the average waiting time for the most common surgical procedure is now two to five months, compared to two to five years in 2002.
The NTPF hopes in the coming year to continue to target outpatient waiting lists.
A pilot programme reduced the waiting time for orthopaedics in Cork University Hospital from five years to 18 months.
Speaking at the launch of the report, the Minister for Health, Mary Harney, urged all hospitals to avail of the fund in order to reduce waiting times for patients.