Self-Sustainability and Cost Containment in a Super-Specialty Hospital--Case Study of Investigation Revolving Fund (Irf) (Report)
Journal of Financial Management & Analysis 2010, July-Dec, 23, 2
Journal of Financial Management & Analysis
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Abstract Functions and principles of procurement are made for systemic approach to make right item, at right time, at right place, in right quantity and in reasonable cost. Feasibility and dedication make the system viable. It is a matter of concern that despite of available funds, the materials are not made available due to many shortfalls in the organization. Investigation Revolving Fund (IRF) of Sanjay Gandhi PGIMS ( SGPGIMS ) is an unique example of maintaining the continuity of the materials and to contain the cost too. Initially Rs. 40 lacs was taken out from the Institute non-plan budget of investigation to establish the IRF for purchase of chemicals, reagents and other materials for investigations, later on, it revolved several times since 2002. Ultimately in addition to accomplish the objective of "mission investigation all', the IRF is in position to have a turn over of Rs. 10,82,81,482.00 in 2009-2010, Rs. 2,27,82,417 bank balance and Rs. 7,29,28,125.00 fixed deposit by the end of 2009-2010. The outcome was achieved despite the fact that only 50 per cent of revenue generated from investigation head is remitted to IRF. So far as cost containment is concerned, the IRF had contained worth Rs. 9.66 lakhs (one lakh = 100000) till now by trade discount, in addition to 10-30 per cent discount already availed at the time of tender finalization.
- 2,99 €
- Categoria: Industrie e professioni
- Pubblicato: 01/07/2010
- Editore: Om Sai Ram Centre for Financial Management Research
- Pagine: 22
- Lingua: Inglese