Tampa-St. Petersburg-Clearwater, FL
The near-term demand for health care workers in the Tampa metropolitan area weakened slightly during the second quarter of 2010 compared to the first quarter of 2010, but still remained strong overall.
Of note this quarter, St. Joseph’s Women’s Hospital began a 5-story expansion, including a 64-bed neonatal intensive care unit, a breast care center, additional private suites and women’s care services. Also, Oak Hill Hospital announced an addition of 20 private cardiac rooms and an additional 41 jobs. Also of note, Ten Broeck Children’s Inc received approval for a psychiatric hospital facility able to treat 40 patients.
On a comparative basis, the Tampa health care market remains stronger than most of the other major metropolitan areas across the country registering an LMPI score of 79.0 for Q2 2010, compared to the national composite index of 58.6, and down just 2% from the prior quarter.
Q2 Workforce Announcements
Regulators approve Ten Broeck’s children’s psych hospital. June 11, 2010
The Florida Agency for Health Care Administration recommended allowing Ten Broeck Children’s Inc. to build a facility in Hillsborough County to provide mental health treatment to children and adolescents. AHCA recommended Ten Broeck receive a certificate of need for a facility to treat 40 young people, including a 10-bed acute care psychiatric unit and a 30-bed residential treatment center. By the end of the second year of operation, there would be about 35 employees.
http://tampabay.bizjournals.com/tampabay/stories/2010/06/07/daily54.html
Study: Oak Hill Hospital project will add 41 jobs. June 7, 2010
The Tampa Bay Regional Planning Council said an expansion at Oak Hill Hospital would create 41 new jobs at the hospital and pump millions of dollars into the local economy. The hospital is in the midst of an expansion that will add 20 private rooms to the cardiac services unit on the sixth floor and increase the number of patient beds to 234.
http://tampabay.bizjournals.com/tampabay/stories/2010/06/07/daily10.html
St. Joseph’s Women’s Hospital launches $75 million expansion. May 19, 2010
St. Joseph’s Women’s Hospital broke ground Wednesday on a 125,000-square-foot, five-story expansion. The project will be home to St. Joseph’s Children’s Hospital’s new 64-bed neonatal intensive care unit, the Hinks and Elaine Shimberg Breast Center, an additional 24 private suites, and women’s care services such as obstetrics, gynecology and surgery.
http://tampabay.bizjournals.com/tampabay/stories/2010/05/17/daily36.html
Apria Healthcare cuts 29 jobs in Tampa. May 12, 2010
Apria Healthcare is eliminating 29 jobs at its billing support site in Tampa.
http://www.bizjournals.com/tampabay/stories/2010/05/10/daily27.html
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion and Closures
$20M complex for medical ed takes first steps. May 28, 2010
The University of South Florida has submitted a $3.1 million bid to buy a chunk of downtown Tampa land it believes will win healthy returns. A planned high-tech center for medical learning is expected to bring both deep-pocketed visitors and companies in the life sciences industries to the Tampa Bay area.
http://tampabay.bizjournals.com/tampabay/stories/2010/05/31/story2.html
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 Tampa-St. Petersburg-Clearwater, FL 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 Tampa-St. Petersburg-Clearwater, FL 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 Tampa-St. Petersburg-Clearwater market.
Source: www.bls.gov accessed 6/28/2010
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 2,733,761, #19 largest market
- U.S. Census Bureau Population #18 oldest market
- U.S. Census Bureau Population Growth 14.1%, #82 fastest growing market
- Executive Summary
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