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Washington-Arlington-Alexandria, DC-VA-MD-WV

Washington-Arlington-Alexandria, DC-VA-MD-WV

Q1 2010 - Market Summary

The near-term demand for health care workers in the DC metro area slowed during Q1 but remained comparable relative to the rest of the country. Of note during the quarter, Georgetown University Hospital announced some of its expansion plans, and city leaders announced that they were looking for a new owner for the 184-bed United Medical Center, formerly known as Greater Southeast Community Hospital.

On a comparative basis, the DC metropolitan area health care labor market is relatively comparable to much of the rest of the country. Its Q4 LMPI score of 45.8, down 9% from last quarter, compares to the national composite of 49.9, down 8% from last quarter.


Q1 Workforce Announcements

GU Hospital Expansion Plans. March 26, 2010
New construction for an expansion of the Georgetown University hospital would take place on the parking lot in front of Darnall Hall.
http://dcmetrocentric.com/2010/03/26/gu-hospital-expansion-plans/

Adventist HealthCare, Holy Cross vie for next Montgomery County hospital. January 29, 2010
The Maryland Health Care Commission is poring over thick proposals submitted by Adventist HealthCare and Holy Cross Hospital to build Montgomery County’s next hospital. Each contender wants to spend tens of millions of dollars to build the hospital, hoping to claim millions more over time from the county’s fertile crop of affluent and aging residents.
http://washington.bizjournals.com/washington/stories/2010/02/01/...

United Medical Center needs money to stay open. January 13, 2010
United Medical Center, formerly known as Greater Southeast Community Hospital, needs money to pay its bills and keep its doors open. City leaders are looking for a new owner for the 184-bed facility.
http://washington.bizjournals.com/washington/morning_call/2010/...

Previous market news


Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions or closures in Q1 2010.


Education Programs



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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,358,130, #9 largest market
  • U.S Census Bureau Population #170 oldest market
  • U.S. Census Bureau Population Growth 11.7%, #105 fastest growing market


   

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