It seems time is going to be a lot tough for the HEALTH Service Executive as they are facing a financial crunch. There is dire need for corrective measures to be taken in case things are to be stabilized. As of now, there is a financial debt of some €500 million and that’s what has made things all the more serious.
However, it is expected that there could be a break even in the second half of the year and expectations are high that things would become better from there on. It has been claimed by Cathal Magee that as much as €124 million would be saved this year due to drug costs. Moreover, there are efforts made to make sure that better and effective drugs are being approved this year. It is also possible that there could be some €145 million generated from private health insurance companies.
However, it has been confirmed by the HSE chief that there would not be any cuts made on the expenses for agency staff by 50% as of now. Moreover, it was claimed that there are chances of wards, beds and possibly hospitals to be closed in the time to come if things didn’t improve. Nonetheless, discussions are going on with the Department of Health to resolve the matter.