Tallaght Hospital secures €12m overdraft from AIBWednesday 10 October 2012 07.26
Tallaght Hospital in Dublin has secured a bank overdraft facility of over €12m to help its cash flow.
The hospital was over budget by over €10m in July.
It said it sought a letter of support from the Health Service Executive for the overdraft from AIB.
In a statement tonight, the hospital said it was managing its finances prudently and had made savings of 6% in its budget this year, despite a 5% increase in in-patient care.
Tallaght is one of around five major hospitals that are heavily over budget and last year it was over budget by over €14m.
The Government has said there will be no supplementary health budget to assist health overruns.
The HSE said tonight that under Service Level Agreements (SLAs) these hospitals are permitted to seek an overdraft up to 7% of their budget for the final quarter of the year.
Other hospitals that have exceeded their budgets are Beaumont, Limerick Regional, Galway University Hospital and Cork University Hospital.