Advocate Lutheran to pay city $1.9M to cover tax from waived parking fees

Advocate Lutheran General Hospital has agreed to pay its home city of Park Ridge, Ill., $1.9 million in lieu of a tax that used to be collected from its parking fees, which the hospital waived a decade ago.

Advertisement

According to the Park Ridge Herald-Advocate, Advocate Lutheran hasn’t charged patients and their guests for parking for the past 10 years. However, since the hospital used to make payments to the city of Park Ridge in the form of a hospital parking tax, the agreement aims to ensure those payments remain. 

The new financial support agreement will require Advocate Lutheran to make the $1.9 million payment to Park Ridge over the next three years, according to the newspaper. 

The city and Advocate Lutheran have had some form of an agreement in place for financial reimbursement since the hospital waived parking fees in 2010, according to the Park Ridge Herald-Advocate.

Read more here.

More articles on finance:
Physician quits after his employer charged $11K for COVID-19 antibody test
Where furloughs stand at 92 hospitals, health systems
Florida hospital wants to reopen after ties cut with CHS

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.