Savings of €103 million will have to be made across the HSE's four regions before the end of the year if it is to balance its budget, new financial data from the executive shows.
The HSE's latest monthly performance report shows however that its overall financial position has improved somewhat over the past few months. In May it had an overall deficit of €84 million but by the end of July - the latest figures available - its deficit was down to €35.2 million.
While there has been overspending in some services this is made up for by surpluses in other areas.
The report says the HSE's West region - where there have been fears that a hospital closure could even be on the cards to rein in spending - continues to present the largest deficit. It had a deficit of €45 million at the end of July while the HSE Dublin/North East region had a deficit of €42 million at the same point.
"The west has shown some improvement in spend rates in July with an underlying reduction of ¤6 million on a monthly basis. It is necessary for the west to continue to pursue further cost reduction measures to achieve a maintainable spend level by year end," the report says.
"The actions underway and proposed in the west and north east are essential to achieving a balanced position at year end," it adds.
The deficits in the other two HSE regions are: HSE South - €22 million and HSE Dublin/Mid Leinster - €31 million.
Meanwhile the report indicates there has been significant underspending on capital projects so far this year. It says the underspend on the capital budget at the end of August was €41.4 million but "the objective is to fully expend the capital programme".