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Minneapolis-St. Paul-Bloomington, MN-WI

Minneapolis-St. Paul-Bloomington, MN-WI

Q1 2010 - Market Summary

The near-demand for health care workers in the Twin Cities metropolitan area held steady during Q1 2010. Of note, it was announced that Emergency Physicians plans to open a standalone clinic that can treat roughly 80 percent of typical emergency cases and will be staffed by 20-25 nurses, Physician Assistants and Laboratory Technicians.

On a comparative basis, the Twin Cities health care labor market remained inline with much of the rest of the country during Q1, registering an LMPI score of 46.4, down from 46.6 in Q4, and compared to the national composite index of 49.9.



Q1 Workforce Announcements

ER doctor group plans clinic in Woodbury. January 22, 2010
Emergency Physicians plans to open a stand-alone clinic that can treat roughly 80 percent of typical emergency cases. The Woodbury facility will initially be open 12 hours a day, seven days a week, and have at least one emergency physician present at any given time. It also will be staffed by 20 to 25 nurses, physician assistants and lab technicians, and have capabilities such as CT scans, ultrasounds and a diagnostic lab
http://twincities.bizjournals.com/twincities/stories/2010/01/25/story2.html

A year of cost cutting seems to be paying off for Twin Cities hospitals as they return to the black. January 11, 2010
After a painful year of cutting jobs, freezing pay and delaying new construction, Twin Cities hospitals turned their businesses around in 2009 and appear to be back in the black. Year-end numbers aren’t in yet, but metro hospitals seem to have cut their way back to financial health. http://www.startribune.com/lifestyle/health/81193012.html?elr=KArks:DCiUUUU

Previous market news



Hospitals and Health Systems

Source: US News & World Report


Education Program Expansion and Closures

No notable program expansion and closures in 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 Minneapolis-St. Paul-Bloomington, MN-WI 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 Minneapolis-St. Paul-Bloomington, MN-WI 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 Minneapolis-St. Paul-Bloomington, MN-WI market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 3,229,878, #16 largest market
  • U.S. Census Bureau Population #231 oldest market
  • U.S. Census Bureau Population Growth 8.8%, #158 fastest growing market


   

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