The Health Service Executive is facing a deficit of €399m, according to its latest performance report to the end of September.
It represents a reduction of just €5m in the deficit, compared with the previous month.
The Government has said there will be no extra funding by way of a supplementary health budget, with seven weeks to the end of the year.
At the end of August, the HSE warned that it was facing a potential year-end deficit of €500m.
The HSE says that while its financial position remains extremely challenging, the slight reduction in the deficit indicates that the cost-containment measures that have been put in place are beginning to take effect.
The executive says it continues to work with the Department of Health to deal with the financial position towards year's end.
The hospital with the biggest overspend is Beaumont Hospital, which is €21.5m over budget.
Other hospitals with major deficits are the Mid-West Regional Hospital in Limerick at €19m over budget, Galway University Hospitals at €13m over budget, the Mater hospital at €13m over budget, and Our Lady of Lourdes Hospital in Drogheda at €12.4m over budget.
The deficit figure does not take account of €125m is is due to receive in advance payments from health insurers.