Hospitals across the state are facing widespread cash shortfalls as new financial projections reveal the depth of Labor’s financial mismanagement.
Internal Department of Health financial projections show a collapse in the number of available days of cash from above the 14-day target in February 2024, to a projected negative 24.7 days in June 2024.
The data also confirms that for the year-to-date for January 2024, health providers across multiple regions suffered significant negative days cash availability, including Western Metro (-32.6 days), North East Metro (-29.4 days), Grampians (-26.8 days), South East Metro (-24.3 days), Loddon Mallee (-20.8 days) and Hume (-15 days).
This dire situation comes as recent annual reports confirmed more than a dozen regional health services reported operating losses in the 2022-23 financial year, on top of the Victorian Department of Health’s $415.5 million deficit over this same period.
Shadow Minister for Health, Georgie Crozier, said: “These figures confirm the depth of Victoria’s health crisis under the Allan Labor Government.
“Labor’s health cuts are hitting the finances of hospitals across the state and impacting on their ability to treat Victorians in need in a timely manner.
“Is it any wonder why Victoria’s health system is in crisis when our hospitals are literally running out of money?”
Shadow Minister for Finance, Jess Wilson, said: “Labor cannot manage money and as a consequence hospital bank accounts are running dry.
“The liquidity crisis facing public hospitals across the state demonstrates just how dire Victoria’s finances are under the Allan Labor Government.
“The Allan Labor Government must explain why hospitals are facing such significant cash shortfalls and guarantee frontline services will not suffer as a consequence.”
