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St. Louis, MO-IL

St. Louis, MO-IL
Q1 2010 - Market Summary

After several solid quarters, the near-term demand for health care workers in the St. Louis metropolitan area dropped during the first quarter of 2010. Of note during the quarter, the Sisters of Mercy System announced plans to lay of 226 and eliminate 288 unfilled jobs as part of a system-wide restructuring. Also of note, it was announced that 300 people who work at Forest Park Hospital have been notified of termination this spring.

On a comparative basis, the St. Louis health care labor market weakened relative to the rest of the country during Q1. Its HWS LMPI score of 36.5 for Q1 2010, down 23% from last quarter, compares to the national composite of 49.9, down 8% from last quarter.


Q1 Workforce Announcements

Sisters of Mercy cutting 514 jobs in restructuring. March 26, 2010
Sisters of Mercy Health System plans to lay off 226 employees, including 89 managers, and has eliminated 288 unfilled jobs as part of a systemwide restructuring of operations. The St. Louis-based health system operates 26 hospitals in four states.
http://stlouis.bizjournals.com/stlouis/stories/2010/03/22/daily40.html

St. John’s expands rehab hospital in Chesterfield. March 12, 2010
St. John’s Mercy Rehabilitation Hospital in Chesterfield has completed $1.2 million worth of additions under budget and ahead of schedule.
http://stlouis.bizjournals.com/stlouis/stories/2010/03/15/focus5.html

Hundreds to lose jobs in hospital merger. February 10, 2010
More than 300 people who work at Forest Park Hospital have been notified they will be terminated this spring. Hospital officials say the state is cutting back on pay for patients who are not insured. Forest Park and St. Alexius together are looking at a loss of $24 million in government funds in the next two years.
http://www.fox2now.com/news/ktvi-forest-park-st-alexius-hospital-merger-021010,0,4625691.story

Crystal Oaks approved for $6 million expansion. February 26, 2010
The Crystal Oaks skilled nursing facility in Crystal City plans to nearly double its rehab offerings with a 32-bed expansion.
http://stlouis.bizjournals.com/stlouis/stories/2010/03/01/story5.html

St. Anthony’s closes outpatient surgery center. February 5, 2010
St. Anthony’s Health Center is closing the ambulatory surgery center it operated in its medical office building,
http://stlouis.bizjournals.com/stlouis/stories/2010/02/08/story10.html

32% of St. Louis hospital claims past due. January 5, 2010
More than 32 percent of claims filed by St. Louis hospitals to insurance companies are past due by 90 days or more, a new report shows.
http://www.bizjournals.com/stlouis/stories/2010/01/04/daily19.html

SSM revives $587 million in stalled hospital projects. January 2, 2010
An improved balance sheet has SSM Health Care moving forward with two hospital projects previously put on hold. The health-care system plans to break ground in April 2010 on a $237 million replacement hospital in Mount Vernon, Ill. In addition, design will begin in 2010 on a $200 million replacement hospital planned for Jefferson City.
http://stlouis.bizjournals.com/stlouis/stories/2010/01/04/story5.html

Previous market news


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Hospitals and Health Systems

Source: US News & World Report


Education Program Expansions and Closures

No notable education program expansions or closures in 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 St. Louis, MO-IL 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 St. Louis, MO-IL market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,816,710, #18 largest market
  • U.S. Census Bureau Population #130 oldest market
  • U.S. Census Bureau Population Growth 4.4%, #239 fastest growing market


   

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