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Miami-Fort Lauderdale-Miami Beach, FL

Miami-Fort Lauderdale-Miami Beach, FL
Q1 2010 - Market Summary

The near-term demand for health care workers in South Florida during the first quarter dropped notably from the prior quarter. Jackson Health System announced layoffs of 548, significantly lower than its initial estimate of nearly 4,500 earlier but still significant. On a positive note, Baptist Health South Florida plans to open three outpatient centers in Coral Gables and South Miami this year that will include 25 employees for urgent care and diagnostics services. In addition, Baptist plans to open a new urgent care center with 12 to 15 employees.

On a comparative basis, the strength of the South Florida health care labor market was weakened by the Jackson Health news, registering a Q1 HWS LMPI score of 36.7, down 20% from the prior quarter, and below the national composite index of 49.9, which was down 8%.



Q1 Workforce Announcements

County approves $215M bond for Bethesda hospital. March 23, 2010
The Palm Beach County Commission unanimously approved a $215 million bond to help Bethesda Healthcare System build a hospital west of Boynton Beach and refinance its debt. The nonprofit plans to start construction this spring on the 80-bed Bethesda West Hospital.
http://southflorida.bizjournals.com/southflorida/stories/2010/...

Jackson notifies state of plans to lay off 548. March 22, 2010
Jackson Health System has made it official. The financially troubled hospital system has notified the state that it plans to lay off 548 employees, effective May 6. That’s far fewer than the original 4,500 employees it once said it would need to lay off to remain open.
http://www.bizjournals.com/southflorida/stories/2010/03/22/...

Jackson Health System to layoff 4487 people. March 6, 2010
The Jackson Health System, which serves Miami Dade County’s indigent population is set to lay off 4487 people by May. These layoffs involve about one third of the hospital’s workforce. Also, Jackson plans to close two of its satellite hospitals.
http://www.examiner.com/x-18776-Miami-Labor-Relations-Examiner...

Baptist Health to open new clinics. February 22, 2010
Baptist Health South Florida plans to open three outpatient centers in Coral Gables and South Miami this year. It will have 25 employees for urgent care and diagnostics services. Baptist also plans to open a new urgent care center with 12 to 15 employees.
http://southflorida.bizjournals.com/southflorida/stories/2010/02/...

Jackson Health System eliminates 47 positions. February 17, 2010
Plagued by skyrocketing losses, Jackson Health System laid off 20 union employees and eliminated an additional 27 vacant positions.
http://southflorida.bizjournals.com/southflorida/stories/2010/02/...

Hospital Cuts Dialysis Care for the Poor in Miami. January 8, 2010
To chip away at an overwhelming budget deficit, Miami’s public hospital system stopped paying for kidney dialysis for the indigent this week, officials said, leaving some patients to rely on emergency rooms for their life-sustaining treatments. A total of 175 patients were affected by the decision by Jackson Health System, which runs South Florida’s largest charity hospital, Jackson Memorial, and a number of smaller hospitals and clinics.
http://www.nytimes.com/2010/01/08/health/policy/08dialysis.html

Previous market news


Hospitals and Health Systems

Source: US News & World Report



Education Program Expansion and Closures

No notable education program expansions and closures announced during Q1 2010.


Education Programs

Source: The Integrated Postsecondary Education Data System


Health of the Local Economy

Declining home prices may cause healthcare employees to seek additional hours from current employers, delay retirement plans and be more willing to relocate for a better job opportunities. Below is the Case-Shiller Home Price Index for the overall Miami-Fort Lauderdale-Miami Beach market.

Source: http://www2.standardandpoors.com accessed 3/31/2010

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 Miami-Fort Lauderdale-Miami Beach 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 Miami-Fort Lauderdale-Miami Beach market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,414,772, #7 largest market
  • U.S. Census Bureau Population #105 oldest market
  • U.S. Census Bureau Population Growth 8.1%, #167 fastest growing market


   

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