Results

• Prior to our management team’s oversight:
  • Managed in-house
  • No revenue growth, focused on cost reductions
  •  Each time budget cuts were announced, FTE cuts also reduced parking staff and hours of operation which resulted in revenue loss
  • No valet service

• After our management team’s oversight:
  • 200% revenue growth over eight years; this department is now the 4^th most profitable business unit in the entire hospital
  • Commenced valet operations, now serving five locations with a combined 500-600 valet customers daily 
  • Vice President stated recently, “The additional revenue you generate saves jobs”

HOSPITAL 2: 454 beds

• Prior to our management team's oversight:
  • Managed by a 3^rd party parking vendor
  • Not accomplishing desired revenue growth
  • Widespread abuse in parking validations
  • Not service focused
  • Parking department was not viewed favorably
  • No valet service

• After our management team’s oversight:
  • 10% revenue increases three consecutive years
  • Implemented validation controls and eliminated theft leading to a $400,000 annual increase in parking revenue
  • The parking department went from adversarial to a positive within the hospital
  • Commenced valet operations that provided time-saving service and expanded existing parking capacity

HOSPITAL 3: 518 beds

• Prior to our management team’s oversight:
  • Managed in-house through security department
  • Security manager was tasked with oversight of several departments of this Level 1 trauma center, causing lack of critical and necessary parking detail focus
  • Not service focused
  • Parking department was not viewed favorably system-wide
  • No corporate “buy in” – non-existent revenue controls resulted in abuse and lost revenue

• After our management team’s oversight:
  • Instituted efficient, friendly valet service that saved the hospital over $150,000 by maintaining an operational parking ramp during a two-level ramp expansion project
  • 25% revenue increase over 3 years

Results like this save critical FTE’s and patient care services. That is why optimizing each of your revenue streams today, including parking, is so important to your bottom line. 

The persistent focus necessary to capture this crucial revenue growth was unable to be dedicated to parking prior to our arrival. While it is vital to do this at all times, it is imperative with today’s economic environment of rapidly rising costs, shrinking reimbursements, and competitive pressures that every available revenue stream - including parking - be inspected through dedicated focus to drive maximum financial return without sacrificing patient service.