Cleveland-Elyria-Mentor, OH
Cleveland-Elyria-Mentor, OH
Q2 2010 – Market Summary
The near-term demand for health care workers in the Cleveland metropolitan area improved during the second quarter of 2010. Of particular note, TriHealth announced plans to construct a 67,000-sf medical office building at Good Samaritan Hospital, the Cleveland Clinic broke ground for a community health center at Huron Hospital in East Cleveland, and Hillcrest opened a portion of its $163 million expansion with 72 new private rooms, a Level III neonatal intensive care unit, and a larger emergency department.
On a comparative basis, the Cleveland health care labor market outperformed many other areas of the country during Q2, registering an LMPI score of 55.1, up 12% from the prior quarter, and compared to the national composite of 58.6.
Q2 Workforce Announcements
New medical building set for Good Samaritan Hospital’s campus. June 10, 2010
TriHealth will construct a 67,000-square-foot medical office building at Good Samaritan Hospital, further developing the campus where it completed a 10-story patient tower just three years ago.
http://www.crainscleveland.com/article/20100610/ROUND/100619993
$25 million health center at East Cleveland’s Huron Hospital targets diabetes, heart disease, hypertension. June 3, 2010
The Cleveland Clinic on Thursday said it will lay out $25 million to confront the health problems of the residents of Northeast Ohio’s most impoverished city. The Clinic broke ground for a community health center at Huron Hospital in East Cleveland.
http://www.cleveland.com/medical/index.ssf/2010/06/25...
Hospital plans expansion. May 27, 2010
Summa Wadsworth-Rittman Hospital is in the first steps of a multimillion-dollar project that will expand its cardiology, orthopedic and geriatric services. The ICU will grow from four beds to eight, and add three new surgical suites.
http://medinagazette.northcoastnow.com/2010/05/27/...
Hillcrest’s $163M expansion starts to materialize. May 17, 2010
Hillcrest has added 304,000 square feet for a new bed tower with 72 private rooms, a Level III neonatal intensive care unit and a far larger emergency department with 22 private rooms.
http://www.crainscleveland.com/article/20100517/FREE/305179968
Hospitals & Health Systems
Source: US News & World Report
Education Program Expansion and Closures
No notable education program expansions and closures announced during Q2 2010.
Education Programs
Source: The Integrated Postsecondary Education Data System
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 Cleveland-Elyria-Mentor, OH market.
Source: http://www2.standardandpoors.com accessed 6/28/2010
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 Cleveland-Elyria-Mentor, OH market.
Source: www.census.gov accessed 6/28/2010
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 Cleveland-Elyria-Mentor, OH market.
Source: www.bls.gov accessed 6/28/2010
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 2,08,291, #26 largest market
- U.S. Census Bureau Population #76 oldest market
- U.S. Census Bureau Population Growth -2.8%, #337 fastest growing market
- Executive Summary
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