Figures supplied by the Health Service Executive to RTÉ News show that five of the big Dublin hospitals have had their budgets cut by nearly €30m.
The largest reduction is at Tallaght Hospital where the budget allocation for the year is down by over €7m compared to last year.
The other reductions are Beaumont Hospital, down €6.8m, St James's Hospital, down €6.5m, St Vincent's University Hospital, down €4.8m and the Mater Hospital, down €4.3m.
A special meeting of the board of the HSE to discuss a potential funding shortfall of over €1bn has ended.
The HSE will now discuss the situation with the Government and a detailed plan of action will be brought back to the board in around two weeks' time.
In a statement the HSE said: 'The board fully recognises the extent of the significant challenges ahead for the organisation in fulfilling its commitments for 2009 as outlined in its National Service Plan which has been approved by the Minister for Health and Children.
'The shortfall is emerging due to a number of factors outside the control of the HSE and directly related to the economic environment.'
Going into the meeting, head of the HSE Professor Brendan Drumm, said that the situation had changed radically since the start of the year and that the main priority was to minimise the effect on patients.
He said the decisions facing the board of the executive are huge, given the changed economic situation.
Due to rising unemployment, income anticipated from the health levy would not materialise and that more medical cards will have to be issued, he added.
Prof Drumm said that the board would need time to consider the situation.
The Cabinet sub-committee on health is due to be briefed on the HSE's position on Wednesday.
The HSE had a budget of over €14.5bn this year.
The board meeting looked at a number of options to rein in spending, including cuts in overtime, allowances and non-core pay for over 113,000 staff.
Junior doctors' allowances
Meanwhile, talks are under way between the HSE and the Irish Medical Organisation over plans by the health authorities to cut allowances and grants for the country's 4,600 junior hospital doctors.
The HSE had planned to bring the changes in today but the measures, including cuts in overtime, are now on hold.
The talks are being chaired by the Labour Relations Commission and are expected to continue for most of the week.
The IMO has started balloting its junior doctor members on industrial action if the measures are introduced.
