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Baltimore-Towson, MD

Baltimore-Towson, MD
Q1 2010 – Market Summary

The demand for health care workers in the Baltimore metropolitan area remained steady during the 1st quarter of 2010. Of particular note during the quarter, Maryland General Hospital unveiled its $57M new 77,000-square-foot facility and renovation in February, and Anne Arundel Med Center asked for the state’s permission to add another 30 beds to its ongoing hospital tower project.

On a comparative basis, the Baltimore health care labor market is remained only slightly weaker than the national composite. Its LMPI score of 47.9 for Q1 2010, up 5% from the prior quarter, compares to the national composite index of 49.9, down 8% from the prior quarter.


Q4 Workforce Announcements

BRAC spurs Anne Arundel Medical Center’s growth. March 12, 2010
Anne Arundel Medical Center wants the state’s permission to spend about $5.2 million to add another 30 beds to its ongoing hospital tower project.
http://baltimore.bizjournals.com/baltimore/stories/2010/03/15/story13.html

Maryland General Hospital to unveil $57M expansion. February 2, 2010
With demand for health care services in West Baltimore on the rise, Maryland General broke ground two years ago on a new 77,000-square-foot facility and renovation of another 15,500-square-foot space that will include new operating rooms, 18 intensive care beds, a new pharmacy and other pre- and post-operation services. The project is Maryland General’s first major expansion in two decades.
http://www.bizjournals.com/baltimore/stories/2010/02/01/daily19.html

Previous market news


Hospitals and Health Systems

Source: US News & World Report


Education Program Expansions and Closures

CCBC receives $4.9M stimulus grant for nurses. March 26, 2010
The Community College of Baltimore County has received a nearly $5 million federal stimulus grant it plans to put toward training more students to become registered nurses. With the $4.9 million grant, the college hopes to train as many as 2,000 students, with about 1,000 receiving degrees by the time the grant money expire.
http://baltimore.bizjournals.com/baltimore/stories/2010/03/29/smallb6.html


Education Programs

Source: The Integrated Postsecondary Education Data System


Health of the Local Economy

Lower home ownership rates reduce the impact of home price fluctuations and increase the willingness of healthcare employees to relocate for better job opportunities. Below are home ownership rates for the overall Baltimore-Towson, MD market.

Source: www.census.gov accessed 3/18/2010

The recent rising unemployment rates create new demands for health services. Higher unemployment shifts the mix away from higher margin procedures to more primary care in the emergency room and critical care for conditions that should have been treated early at a primary care physician. In general, rising unemployment also reduces turnover and engagement of employed workers, while low unemployment tends to increase intra market churn. Below are unemployment rates for the overall Baltimore-Towson, MD market.

Source: www.bls.gov accessed 3/18/2010

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,667,117, #20 largest market
  • U.S. Census Bureau Population #121 oldest market
  • U.S. Census Bureau Population Growth 4.5%, #235 fastest growing market


   

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