Waterloo Region and Guelph hospitals made $8.35M off parking since 2012

The latest financial numbers obtained by CBC News suggest hospital parking is a big moneymaker for healthcare providers. Now that the Liberal government has imposed a discount, what's at stake?

Cambridge, Kitchener and Guelph hospitals say parking profits prop up the system

Colin Butler CBC News Posted: Oct 12, 2016 6:00 AM EDT | Last Updated: October 12, 2016

Grand River Hospital currently has what it calls 'compassionate' rates for patients and visitors to its cancer, renal and maternity wards, but daily parking rates are $14 per day. (Contributed by Grand River Hospital)

The latest financial data obtained by CBC News fromCambridge Memorial Hospital,GuelphGeneral Hospital and Grand River Hospital suggest hospital parking is a lucrative business.

Over the last three years, all three major hospitals in the area made a combined $8,357,965in profits from parking fees over a three year periodfrom 2012 to 2015.

It's no small sum and local hospital administrators are quick to point out that all the proceeds are put right back into a system that's squeezed for cash.

In January, the Liberal government announced it would give hospital visitors a break on parking starting Oct.1, cutting rates in half wherever hospitals charge a daily rate of more than $10.

So if hospitals depend on that money, how will the discount shakeup their finances? Here's a look at their profits on their books for thelast three years.

Cambridge Memorial Hospital

Fiscal year	2012-13	2013-14	2014-15
Visitor parking revenue	$659,940	$765,839	$853,557
Staff parking revenue	$439,054	$431,713	$457,450
Total parking revenue	$1,098,994	$1,197,552	$1,311,007
Total parking costs	$872,036	$1,077,210	$915,093
Profit	$226,958	$120,342	$395,914

Cambridge Memorial Hospital made a total profit of $743,214 from 2012 to 2015 from money generated by parking fees.

Guelph General Hospital

Fiscal year	2012-13	2013-14	2014-15
Visitor parking revenue	$756,600	$770,256	$752,940
Staff parking revenue	$340,994	$364,710	$362,392
Total parking revenue	$1,097,594	$1,134,966	$1,115,332
Total parking costs	$537,285	$608,535	$594,390
Profit	$560,309	$526,431	$520,942

Guelph General Hospital earned $1,607,682 in profits from parking fees from 2012 to 2015.

St Mary's Hospital

Fiscal year	2012-13	2013-14	2014-15
Visitor parking revenue	$1,135,771	$1,177,884	$1,533,534
Staff parking revenue	$312,490	$327,532	$338,621
Total parking revenue	$1,448,620	$1,505,416	$1,533,534
Total parking costs	$701,521	$839,845	$797,388
Profit	$747,099	$665,571	$736,146

St Mary's Hospital recorded$2,148,816 in profits from hospital parking from 2012 and 2015.

Grand River Hospital

Fiscal year	2012-13	2013-14	2014-15
Visitor parking revenue	not provided	not provided	not provided
Staff parking revenue	not provided	not provided	not provided
Total parking revenue	$2,287,653	$2,281,888	$2,869,128
Total parking costs	$911,989	$1,080,880	$1,587,547
Profit	$1,375,664	$1,201,008	$1,281,581

Grand River Hospital did not immediately provide a breakdown of how much revenue it makes from visitor and staff parking upon request, however the institution did indicate it earned a total profit of$3,858,253 from 2012 to 2015.

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