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Philadelphia-Camden-Wilmington, PA, NJ, DE, MD

Philadelphia-Camden-Wilmington, PA, NJ, DE, MD
Q1 2010 - Market Summary

The near-term demand for health care workers in the Philadelphia metropolitan area continued to strengthen during the first quarter of 2010 and the number of workers required to meet announced expansion plans will likely exceed the number of announced positions eliminated or deferred.

Of particular note during the quarter, Thomas Jefferson University announced that it is getting ready to start a $60 million construction project that includes a new 11-story building that will house both clinical and academic offices. Doylestown Hospital also unveiled its expanded emergency department that nearly quintuples its former size. On a negative note, Abington Memorial announced that it was examining strategies for increasing patient volumes and decreasing costs that may result in layoffs, and Girard Medical Center announced that it would be laying off 100 in April.

On a comparative basis, the Delaware Valley health care market is still stronger than most of the other major metropolitan areas across the country registering an LMPI score of 77.4 for Q1 2010, compared to the national composite index of 49.9, and up 16% from the prior quarter.

Q1 Workforce Announcements

Doylestown Hospital prepped to unveil an expanded ED. March 26, 2010
The expansion is the result of an $87 million construction project the Doylestown Hospital embarked on two years ago that nearly quintuples the size of its emergency department
http://philadelphia.bizjournals.com/philadelphia/stories/2010/03/29/...

Abington Memorial pondering layoffs as patient volumes fall. March 5, 2010
Abington Memorial Hospital, long one of the region’s most financially stable medical centers, has found it is not immune to economic woes that are forcing some patients to curtail elective medical procedures. Leaders at the eastern Montgomery County medical center are examining strategies for increasing patient volumes and decreasing costs, which may result in layoffs.
http://philadelphia.bizjournals.com/philadelphia/stories/2010/03/08...

Girard Medical Center to lay off 100. February 25, 2010
Girard Medical Center will lay off about 100 people April 24, a few days after it permanently closes its Continuing Care Hospital, according to a notice filed with the Pennsylvania Department of Labor and Industry.
http://www.philly.com/philly/business/homepage/20100225_Girard…
http://www.bizjournals.com/philadelphia/stories/2010/02/22/...

Philadelphia’s largest employers will fill 6,000 jobs within 6 months. February 10, 2010
Some of Philadelphia’s 50 largest employers have open positions. Jefferson Health System, the region’s third-largest employer, continues to grow through expansion into the suburbs and planned growth at its Center City base. It reported 922 job openings. The Children’s Hospital of Philadelphia (CHOP) reported 446 openings. Nearby, the University of Pennsylvania Health System plans to fill 290 positions, for nurses, support staff, operating room technicians and unit secretaries. Virtua, the Marlton, N.J.-based hospital company, has about 200 openings that it will fill based on need. The hospital system has grown, including adding a new site in Washington Township, Gloucester County. Next year, it will open its new Voorhees Hospital.
http://philadelphia.bizjournals.com/philadelphia/stories/2010/...

Thomas Jefferson gears up for expansion. February 5, 2010
Thomas Jefferson University is getting ready to start a $60 million construction project highlighted by a new 11-story building that will house clinical and academic offices. The Jefferson Hospital for Neuroscience, is also in desperate need of more space and will benefit from the project. That project will allow Jefferson to shift all ambulatory-care programs and academic offices out of the neuroscience hospital and across the street to new and renovated buildings. The neuroscience hospital will use the vacated space for operating rooms and 28 inpatient beds, which would bring its total bed count to 111.
http://philadelphia.bizjournals.com/philadelphia/stories/2010/...

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Programs Expansions and Closures

No notable education program expansions or closures during Q1 2010.

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 Philadelphia-Camden-Wilmington, PA, NJ, DE, 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 Philadelphia-Camden-Wilmington, PA, NJ, DE, MD market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,838,471, 5th largest market
  • U.S. Census Bureau Population #110 oldest market
  • U.S. Census Bureau Population Growth 2.7%, 270th fastest growing market
   

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