Financial Policies

Administration & Financial Management Policy

Sri Lakshmi Multi Speciality Hospital is committed to maintaining transparent, ethical and accountable administrative and financial practices that support high-quality patient care and sustainable healthcare operations. Effective financial governance promotes patient confidence, regulatory compliance and responsible stewardship of Hospital resources.

This Policy has been developed with reference to the Consumer Protection Act, 2019, the Companies Act, 2013 (where applicable), the Central Goods and Services Tax Act, 2017 (CGST Act) and applicable GST laws, the Drugs and Cosmetics Act, 1940 and Drugs Rules, 1945, the Medical Devices Rules, 2017, the Clinical Establishments (Registration and Regulation) Act, 2010 (where applicable), the Tamil Nadu Clinical Establishments (Regulation) Act, 1997 (where applicable), applicable Central and State Government healthcare regulations and the governance principles promoted by the National Accreditation Board for Hospitals & Healthcare Providers (NABH).

The Hospital is committed to ensuring transparency in billing, fairness in refunds, ethical procurement, responsible financial management and continuous monitoring through internal audits and compliance reviews.

Purpose of this Policy

The purpose of this Policy is to establish a structured framework for financial transparency, billing practices, procurement governance, vendor management, internal audit and administrative accountability throughout Sri Lakshmi Multi Speciality Hospital.

This Policy promotes ethical financial practices, transparent billing, fair refund procedures, responsible procurement, effective financial controls and continuous compliance with applicable legal and regulatory requirements.

Scope of this Policy

This Policy applies to all Hospital departments, administrators, finance personnel, procurement teams, pharmacy personnel, biomedical engineering staff, consultants, authorised employees, vendors, contractors and service providers involved in administrative, financial and procurement activities.

The Policy applies to billing, patient refunds, insurance and cashless claims administration, procurement of medicines, medical devices, equipment and consumables, vendor management, financial record keeping, internal audits and regulatory compliance activities.

"Responsible financial management supports quality healthcare, organisational integrity and public trust."

Our Commitment to Financial Transparency & Good Governance

Sri Lakshmi Multi Speciality Hospital is committed to conducting all administrative and financial activities with integrity, transparency, accountability and fairness. We strive to ensure that patients receive clear billing information, vendors are treated fairly and procurement decisions are made objectively and in the best interests of patient care and organisational sustainability.

Billing & Financial Transparency

Sri Lakshmi Multi Speciality Hospital is committed to maintaining transparent, accurate and understandable billing practices. Patients shall receive clear information regarding consultation fees, investigations, procedures, medicines, room charges and other applicable hospital services. Wherever reasonably practicable, estimated treatment costs shall be communicated before the commencement of planned procedures.

Itemised bills shall be provided upon request or as required under applicable laws and Hospital procedures. Billing practices shall comply with applicable taxation, financial reporting and consumer protection requirements.

Refund & Cancellation Policy

Refunds shall be processed fairly and in accordance with Hospital procedures, applicable contractual obligations and relevant legal requirements. Refund eligibility shall depend upon the nature of the service, treatment already provided, payments received and applicable insurance or third-party arrangements.

Where appointments, elective procedures or admissions are cancelled, any eligible refund shall be processed after appropriate verification and deduction of charges, where applicable. Patients shall be informed of the applicable refund process and expected timelines wherever reasonably practicable.

"Refund requests shall be reviewed fairly, transparently and in accordance with Hospital policies and applicable legal requirements."

Vendor & Procurement Policy

Sri Lakshmi Multi Speciality Hospital shall procure medicines, medical devices, equipment, consumables and services through fair, transparent and objective procurement processes. Vendor selection shall be based on quality, regulatory compliance, reliability, service capability, value and patient safety considerations rather than personal or improper financial interests.

Procurement activities shall be conducted ethically and in accordance with applicable procurement procedures, financial controls and anti-corruption principles. Conflicts of interest shall be disclosed and managed in accordance with the Hospital's Ethics & Governance Policy.

Medicine & Medical Equipment Procurement

Medicines, medical devices and healthcare equipment shall be procured only from authorised manufacturers, distributors or licensed suppliers, as applicable. Products shall comply with applicable regulatory requirements and recognised quality standards before being accepted for Hospital use.

The Hospital shall maintain appropriate procedures for receipt, inspection, storage, inventory management, maintenance, calibration (where applicable) and recall of medicines and medical equipment to ensure patient safety and operational reliability.

Procurement Principles & Financial Controls

Sri Lakshmi Multi Speciality Hospital shall maintain appropriate financial controls and procurement procedures to ensure responsible utilisation of Hospital resources, compliance with applicable laws and transparent purchasing practices. Procurement decisions shall be based on objective evaluation, documented approvals and recognised quality standards.

Financial controls shall be designed to safeguard Hospital assets, minimise financial risks, prevent fraud and support accountability in administrative and procurement activities.

Internal Audit Policy

Sri Lakshmi Multi Speciality Hospital shall conduct periodic internal audits to evaluate financial controls, procurement practices, billing processes, inventory management and compliance with Hospital policies and applicable legal requirements.

Internal audits are intended to identify opportunities for improvement, strengthen internal controls, enhance operational efficiency and support continuous quality improvement throughout the organisation.

"Regular internal audits strengthen accountability, transparency and organisational excellence."

Compliance Monitoring & Regulatory Reviews

The Hospital shall periodically review compliance with applicable healthcare laws, taxation requirements, procurement regulations, financial policies and recognised healthcare standards. Compliance reviews may include documentation assessments, operational inspections, financial reviews and corrective action planning where necessary.

Findings from audits and compliance reviews shall be evaluated by Hospital Management to identify areas for improvement and strengthen regulatory compliance.

Financial Records & Documentation Management

Financial records shall be maintained accurately, completely and securely in accordance with applicable accounting standards, taxation requirements, Hospital policies and relevant legal obligations. Records shall be retained for the period prescribed by applicable laws or organisational requirements.

Access to financial documentation shall be restricted to authorised personnel. Records shall be protected against unauthorised access, alteration, loss or destruction through appropriate administrative, physical and technical safeguards.

Roles & Responsibilities of Hospital Staff

Every employee, consultant, finance professional, procurement officer, pharmacist, biomedical engineer, administrator and authorised representative of Sri Lakshmi Multi Speciality Hospital shares responsibility for maintaining financial integrity, transparency and compliance with applicable laws and Hospital policies. Employees shall perform their duties honestly, responsibly and in the best interests of patients and the Hospital.

Hospital Responsibilities

Sri Lakshmi Multi Speciality Hospital is committed to maintaining effective financial governance, ethical procurement practices, transparent billing systems and appropriate internal controls. The Hospital shall provide the necessary leadership, oversight and resources to ensure compliance with applicable laws and recognised healthcare governance standards.

Continuous Improvement

Sri Lakshmi Multi Speciality Hospital shall periodically review its billing practices, procurement procedures, financial controls, audit findings and compliance programmes to identify opportunities for improvement. Recommendations arising from audits, inspections and management reviews shall be incorporated into Hospital policies and operational procedures wherever appropriate.

Continuous improvement initiatives shall support transparency, accountability, operational efficiency and high standards of financial governance while contributing to the Hospital's future NABH accreditation objectives.

Policy Review

This Administration & Financial Management Policy shall be reviewed periodically by Hospital Management to ensure continued alignment with applicable Indian laws, recognised financial governance principles, taxation requirements, healthcare regulations and evolving best practices.

"Strong financial governance promotes transparency, accountability and sustainable healthcare excellence."

Contact Information

Questions regarding this Administration & Financial Management Policy, billing matters, refunds, procurement practices or audit-related concerns may be directed to the Hospital Administration or Finance Department.

Regulatory & Standards Reference

This Administration & Financial Management Policy has been developed with reference to applicable Indian laws, recognised financial governance principles and healthcare quality standards governing billing transparency, procurement, financial accountability, internal audit and regulatory compliance.

"Sri Lakshmi Multi Speciality Hospital is committed to maintaining transparent billing, ethical procurement, responsible financial management and effective internal governance in accordance with applicable Indian laws, recognised healthcare standards and our ongoing commitment towards future NABH accreditation."