The Finance and Account Department plays a pivotal role in ensuring the financial sustainability and operational efficiency of the hospital.
As the backbone of financial management, the department is responsible for budget planning, financial reporting, revenue collection, and ensuring compliance with financial regulations.
The department operates with a commitment to transparency, accountability, and efficiency, aligning with the hospital’s mission of providing high-quality healthcare services in a financially sustainable manner.
Our Responsibilities
The Finance and Account Department is tasked with key financial functions, including:
1. Budgeting and Financial Planning
- Preparing and managing the hospital’s annual budget.
- Ensuring optimal allocation of financial resources for hospital operations.
- Forecasting financial needs and making recommendations for efficient expenditure.
2. Revenue Collection and Management
- Coordinating billing systems for hospital services.
- Ensuring proper collection of revenue from patients, government allocations, and other sources.
- Implementing strategies to enhance financial sustainability.
3. Financial Reporting and Compliance
- Preparing financial statements and reports for internal and external stakeholders.
- Ensuring compliance with financial regulations, government policies, and audit requirements.
- Maintaining transparency in all financial transactions.
4. Payroll and Staff Emoluments
- Processing salaries, benefits, and allowances for hospital staff.
- Managing pension contributions and deductions.
- Ensuring timely and accurate payroll processing.
5. Procurement and Expenditure Control
- Overseeing the financial aspects of hospital procurement processes.
- Verifying and approving payments for goods and services.
- Implementing cost-control measures to enhance hospital efficiency.
Financial Transparency
At OOUTH, financial integrity is a core principle.
The Department ensures that all transactions are conducted transparently and in accordance with financial regulations.
The department works closely with auditors and government agencies to uphold accountability and best financial practices.
Technology and Financial Management
To enhance efficiency, the Finance and Account Department leverages modern financial management systems, including:
- Automated billing systems to streamline patient payment processes.
- Digital accounting software to ensure accurate financial tracking and reporting.
- Electronic payroll systems for seamless staff salary payments.
These technological advancements enable the department to maintain accuracy, reduce errors, and improve overall financial management.
Collaboration with Other Departments
The Finance and Account Department works closely with various hospital units, including:
- Medical Services – Ensuring proper financial documentation of healthcare services rendered.
- Human Resources – Coordinating payroll, benefits, and staff financial records.
- Procurement Unit – Managing financial aspects of hospital purchases and supplies.
This interdepartmental collaboration ensures the smooth financial operations of OOUTH.
Meet the Team
The Finance and Account Department is managed by a team of experienced financial professionals dedicated to upholding the highest standards of financial management.
The team includes:
- Director of Finance and Accounts – Oversees the financial strategy and compliance.
- Accountants – Handle financial reporting, payroll, and auditing.
- Revenue Officers – Manage billing and revenue collection.
- Cashiers – Facilitate payments and financial transactions.
Contact Us
For financial inquiries, billing information, or any related concerns, please contact:
📍 Finance and Account Department, OOUTH, Sagamu
📞 Phone: +234-8163701056
📧 Email: finance@oouth.com