More than half of Victoria’s health services are running low on cash, prompting fears of lay-offs without a major funding injection from the state government.
Victorian hospitals’ dire financial situation has been exposed by new internal data showing the network is forecast to need a major funding injection of up to three weeks’ worth of operational costs.
The chart forecasts that by June there will be an overall cash deficit equivalent to 24 days of operational costs.– maintains that it is normal for hospitals to operate under deficit throughout the financial year, and says additional payments to cover extra costs will be reconciled at the end of the financial year.But the leaked data shows that over a three-year period, the number of days worth of cash kept in hospital coffers has steadily declined.
“But instead we’re getting close to the Victorian state budget and the pathway forward for our health services to run a sustainable budget is looking increasingly uncertain.” At the end of 2023, public hospitals were asked to find additional cost savings for non-clinical areas – such as payroll or external public relations – before the state budget.
“We urge the Department of Health and the Victorian government to put more meaningful funding reform on the table to ensure health services are not continuing to grapple with this structural deficit in their budgets year-on-year.” But state opposition finance spokeswoman Jess Wilson said hospital bank accounts were running dry because of Labor’s mismanagement.“The liquidity crisis facing public hospitals across the state demonstrates just how dire Victoria’s finances are under the Allan Labor government,” Wilson said.
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