San Jose-Sunnyvale-Santa Clara, CA
San Jose-Sunnyvale-Santa Clara, CA
Q1 2011 - Market Summary
The near-term demand for health care workers in the San Jose metro area rebounded notably during the first quarter of 2011 despite some weak spots. Of note, Good Samaritan Hospital began an expansion that will include a specialized intensive care unit for neurosciences and nearly 50 additional private patients rooms. Regional Medical Center of San Jose also broke ground on a new 160,000-square-foot inpatient tower, which will largely replace the existing 247-bed facility. On a negative note, Seton Medical Center prepared for a round new layoffs as it continued to deal with revenue shortfalls.
On a comparative basis, the San Jose metro health care labor market strengthened as measured by the HWS LMPI. Its Q1 LMPI score of 52.9, up 37% from the prior quarter, compared favorably to the national composite of 51.5.
Q1 Workforce Announcements
California Hospital News Roundup. March 25, 2011
Good Samaritan Hospital held a ceremony to mark the start of its expansion project. The expansion will include a specialized intensive care unit for neurosciences and a new floor of private rooms for medical and surgical patients. Overall, the project will create nearly 50 additional private patients rooms
http://www.californiahealthline.org/articles/2011/3/25/california-hospital-news-roundup-for-the-week-of-march-25-2011.aspx
Daly City’s Seton Medical Center may cut more jobs. February 25, 2011
Seton Medical Center in Daly City may be preparing for a new round of layoffs as it continues to deal with revenue shortfalls.
http://www.bizjournals.com/sanfrancisco/morning_call/2011/02/daly-citys-seton-medical-to-cut-jobs.html
http://www.mercurynews.com/san-mateo-county/ci_17467089
Mills-Peninsula Medical Center delayed again. February 25, 2011
Mills-Peninsula Health Services has pushed back the planned opening of its $620 million Mills-Peninsula Medical Center in Burlingame yet again, citing snags in its communications systems.
http://www.bizjournals.com/sanfrancisco/print-edition/2011/02/25/mills-peninsula-medical-center-delayed.html
Work begins on $300M med tower. February 25, 2011
Regional Medical Center of San Jose is the latest Bay Area hospital to break ground on a new expansion project. The ground-breaking ceremony will be held for a 160,000-square-foot inpatient tower, which will largely replace the existing 247-bed facility. It also includes an expanded ICU, a two-story wing (first floor, with 33 private beds, is complete), expanded ER (by early 2013), new breast care center (mid-2011), renovated operating rooms and enhanced clinical equipment. The 81-bed tower is slated for completion by early 2014; some portions of the project are complete.
http://www.bizjournals.com/sanfrancisco/print-edition/2011/02/25/work-begins-on-300m-med-tower.html
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansions and Closures
No notable education program expansions or closures announced during Q1 2011.
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 San Jose-Sunnyvale-Santa Clara, CA market.
Source: www.census.gov accessed 3/29/2011
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 San Jose-Sunnyvale-Santa Clara, CA market.
Source: www.bls.gov accessed 3/29/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 1,819,198, #31 largest market
- U.S. Census Bureau Population #244 oldest market
- U.S. Census Bureau Population Growth 4.8%, #227 fastest growing market
- Executive Summary
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