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Orlando-Kissimmee, FL

Orlando-Kissimmee, FL
Q1 2010 - Market Summary

After five consecutive strong quarters, the Orlando health care labor market weakened slightly during the first quarter of 2010 despite a number of positive announcements. However, the number of workers required to meet announced expansion plans in Orlando remains inadequate.

Notably during the quarter, Orlando Health announced that it could begin work this year on a $250 million expansion and renovation of Orlando Regional Medical Center, that would add 80-100 new positions. This is one of the first detailed projects to be unveiled as part of the system’s $750 million, five-year capital plan. Also of note, Adventist Health System’s Florida division announced that it is developing three outpatient facilities in Winter Park in partnership with Lillibridge, and Cord:Use Cord Blood Bank announced that it will be hiring 31 at its new lab opening in Maitland.

On a comparative basis, the Orlando-Kissimmee health care labor market remains strong. With a Q1 2010 LMPI score of 49.2, is near term growth is still inline with much of the rest of the country.



Q1 Workforce Announcements

Cord blood bank opening new lab in Maitland, hiring 31. March 26, 2010
Cord:Use Cord Blood Bank anticipates having a healthy growth spurt. It wants to move into a larger building with a new medical laboratory in Maitland. http://orlando.bizjournals.com/orlando/stories/2010/03/29/story8.html

Lillibridge developing 3 hospital projects. February 25, 2010
Lillibridge is developing three outpatient facilities in Winter Park, DeLand and Deltona for Adventist Health System’s Florida division.
http://orlando.bizjournals.com/orlando/stories/2010/02/22/daily35.html

Blood-bank chief’s pay raised to $605,000 — then 42 jobs cut. February 16, 2010
The top executive of Metro Orlando’s main blood bank received a 13 percent - $71,000 - increase in her pay package to more than $605,000 in 2009, less than two months before deciding to lay off 42 employees.
http://articles.orlandosentinel.com/2010-02-16/news/os-blood-center-chinoda-salary-20100216_1_fbc-anne-chinoda-blood-bank

Orlando Health moving forward on $250M project. January 1, 2010
Orlando Health could begin work this year on a $250 million expansion and renovation of Orlando Regional Medical Center, one of the first detailed projects to be unveiled as part of the hospital system’s $750 million, five-year capital plan.
http://orlando.bizjournals.com/orlando/stories/2010/01/04/story9.html


Previous market news



Hospitals and Health Systems

Source: US News & World Report



Education Program Expansion and Closures

Concorde opens campus in Orlando, plans to expand. March 12, 2010
Concorde Career Institute, which opened a 32,000-square-foot campus in Orlando in December, is planning to expand from two to 10 programs. The school wants to add three more programs in 2011, possibly dental hygiene, physical therapy assistant and occupational therapy assistant.
http://orlando.bizjournals.com/orlando/stories/2010/03/15/story4.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 Orlando-Kissimmee, FL 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 Orlando-Kissimmee, FL market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,054,574, #27 largest market
  • U.S. Census Bureau Population #177 oldest market
  • U.S. Census Bureau Population Growth 24.9%, #26 fastest growing market


   

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