Department in Depth

The Finance department is responsible for the overall finances of the hospital and is accountable for the accuracy of all financial accounting transactions.

Financial Accounting section
The Financial accounting section has responsibility for the hospital financial functions of Accounts receivable, Accounts payable, and Payroll. The main role of this section is to underpin the financial accounting processes and controls and communications process for the payment of salaries to employees, payment of vendor invoices and proactively manage the timely billing and collection of hospital income.

Accounts Receivable
The Accounts receivable department is responsible for the raising of all hospital invoices and timely collection of income. The cash office records all cash received by the hospital. The Health Insurance and Assessment office validates patient eligibility for treatment and ensure claims are submitted to health insurers in a timely manner.

Accounts Payable
The Accounts payable department is responsible for the recording, validating and payment of vendor invoices, reconciliation of supplier statements and ensuring compliance with Revenue requirements.

The payroll department is responsible for the timely preparation of fortnightly and monthly payrolls and for ensuring accuracy and validity of payments to employees. The department operates a payroll query desk accessible to all employees to assist with any queries regarding payment of salary.

Management Accounting section
The hospital operates a devolved budgetary management process within the context of an annual service plan incorporating annual and multi-annual budgeting. In this context, the Management Accounting (MA) unit is responsibility for a range of Clinical Directorates, Corporate Departments and other Cost Centres for Pay, Non Pay and Income budget preparation. The unit is supported by 4 Finance Analysts who provide support to the Clinical directorate structure in the hospital.

Monthly analysis and reporting of net outturn versus plan is a core function of this department.  The department is responsible for the preparation of the annual Specialty costing exercise and the development of patient costing information systems.