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Kitchener-Waterloo

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 ·
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 from Cambridge Memorial Hospital, Guelph General 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 $8,357,965 in profits from parking fees over a three year period from 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 the last three years.
Cambridge Memorial Hospital made a total profit of $743,214 from 2012 to 2015 from money generated by parking fees. (Google Maps)

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 made $1,607,682 in profits from staff and visitor parking fees from 2012 to 2015. (Google Street View)

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 recorded $2,148,816 in profits from hospital parking from 2012 and 2015. (Contributed by: St. Mary's General Hospital)

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 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. (CBC)

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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