The Impact of Hospital Audits on Financial Management in Nigerian Public Healthcare: A Case Study of Lagos State Teaching Hospital
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Background of the Study
The financial management of public healthcare institutions is critical to ensuring the delivery of quality medical services. Nigerian public hospitals, including Lagos State Teaching Hospital (LUTH), face financial challenges such as underfunding, corruption, and inefficiencies in resource allocation (Eze & Olatunji, 2024). Hospital audits play a crucial role in addressing these challenges by ensuring transparency, compliance with regulations, and effective use of resources.
LUTH, as a leading public healthcare institution, has implemented financial audits to improve accountability and operational efficiency. However, the effectiveness of these audits in addressing financial management challenges and improving service delivery remains underexplored (Adeyemi & Bello, 2025). This study examines the impact of hospital audits on financial management at LUTH, providing insights into best practices for improving financial oversight in public healthcare.
Statement of the Problem
Public healthcare institutions in Nigeria are plagued by financial mismanagement, leading to poor service delivery and resource wastage. LUTH has faced similar challenges, including delayed staff salaries, lack of essential medical supplies, and inefficient budget utilization. Despite the introduction of financial audits, their effectiveness in resolving these issues is unclear (Okafor & Salami, 2023).
This study investigates how hospital audits impact financial management at LUTH, identifying gaps in current practices and recommending improvements.
Objectives of the Study
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To analyze the impact of hospital audits on financial management at LUTH.
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To identify challenges affecting the implementation of audit recommendations in public healthcare institutions.
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To propose strategies for improving audit practices in Nigerian public hospitals.
Research Questions
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How do hospital audits impact financial management at LUTH?
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What challenges hinder the implementation of audit recommendations in public healthcare institutions?
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What strategies can improve audit practices in Nigerian public hospitals?
Research Hypotheses
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Hospital audits significantly improve financial management at LUTH.
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Challenges such as regulatory lapses and limited resources hinder the effectiveness of hospital audits.
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Enhanced audit practices promote financial transparency in public healthcare institutions.
Scope and Limitations of the Study
The study focuses on hospital audits conducted at LUTH, evaluating their impact on financial management. Limitations include access restrictions to financial records and potential resistance from staff.
Definitions of Terms
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Hospital Audit: A financial examination conducted within healthcare institutions to ensure compliance and resource optimization.
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Financial Management: The planning, organizing, and controlling of financial resources in an organization.
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Public Healthcare Institution: A government-owned facility providing medical services to the public.
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