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Executive Summary

Q3 HWS Labor Market Pulse® Index

October 2010

HWS is pleased to announce the release of Q3 results for the HWS Labor Market Pulse® Index (LMPI). The HWS LMPI is a leading indicator of local health care labor market demand as it is derived from announced expansion and contraction plans, among other data. The Index measures where near-term demand for health care workers is strongest based on a number of tracking variables including temporary health workforce shortages and surpluses, facility and bed closures, announced layoffs and expansions, and local economic trends.

2010 Third Quarter LMPI Highlights

• After a strong second quarter, the strength of the national health care labor market weakened slightly across a number of major metropolitan areas in the third quarter as measured by the HWS Labor Market Pulse Index® (LMPI).

• For the third quarter of 2010, the near-term demand for health care workers was strongest in the Las Vegas, Denver, Detroit, Charlotte and Miami metropolitan areas.

• Much of the growth was fueled by newly announced or modified expansion plans and/or large-scale hiring announcements at organizations including the Rocky Mountain Hospital for Children in Denver, Carolinas HealthCare System, and West Kendall Baptist Hospital.

• Of the 30 major markets tracked by the HWS Labor Market Pulse Index® (LMPI), the weakest areas for the quarter included the Riverside/San Bernardino, New York metro/Northern New Jersey, Sacramento and Minneapolis/St. Paul metropolitan areas.

• The LMPI composite index, a representative basket of the 30 largest markets, posted a 14% decrease in the third quarter of 2010 from the 2nd quarter of 2010, after an 18% increase the prior quarter.

• For the 3rd quarter ended 9/30/10, 10 markets of the 30 tracked by the LMPI showed signs of accelerated expansion (vs. 20 in the prior quarter).

2010 Third Quarter LMPI Market Highlights

Atlanta
Despite new growth announcements, the near-term demand for health care workers in the Atlanta metropolitan area slowed during the third quarter of 2010, after a particularly strong second quarter. Of note, the WellStar Health System is planning an expansion from which it expects to create 500 new jobs. In the near future, the Northeast Georgia Medical Center will also begin an expansion in South Hall County.

Baltimore
The near-term demand for health care workers in the Baltimore metropolitan area continued to remain steady during the third quarter of 2010. Of note during the quarter, the University of Maryland Medical Center is undertaking notable renovations at a trauma center, including additional beds. Also, Bravo Health and Mercy Medical have new clinics opening in the area.

Boston
The growth in near-term demand for health care workers in the Boston metropolitan area remained steady for Q3 2010. Of note during the quarter: Boston Medical Center’s layoff of 119 employees, the elimination of Addison Gilbert Hospital’s cardiac care services, and Massachusetts’ plan to reduce the number of psychiatric care beds. On a positive note, Whittier Street Health Center is undergoing an expansion and some delayed building projects have been re-started.

Charlotte
The near-term demand for health care workers in the Charlotte metropolitan area declined slightly third quarter of 2010, yet the number of workers required to meet announced expansion plans will likely exceed the number of announced positions eliminated or deferred. The market continues to be one of the strongest in the country.

Chicago
The near term demand for health care workers in the Chicago metropolitan area remained flat for the third quarter of 2010. Of note during the quarter, the University of Chicago Medical Center plans to open a cancer center in the southwest suburbs, a major step in the hospital’s bid to expand its reach beyond the South Side.

Cleveland
After a strong second quarter, the demand for health care workers in the Cleveland metropolitan area dropped notably during the third quarter of 2010. Of note, the Lakewood Hospital opened its center for geriatric neurology this quarter.

Dallas
The near-term demand for health care workers in the Dallas-Fort Worth metro area slowed during Q3 but remained comparable relative to the rest of the country. Of note during the quarter, Regency Hospital announced it is closing its Carrollton campus, affecting 155 jobs. However, Forest Park doctors are planning to open a new hospital in Frisco, which will add 300 jobs to the market.

Denver
The near-term demand for health care workers in the Denver metropolitan area continued to strengthen during the third quarter of 2010 and the number of workers required to meet announced expansion plans will likely exceed the number of announced positions eliminated or deferred. Of particular note during the quarter, Rocky Mountain Hospital for Children opened its new 145-bed hospital as an expansion of Presbyterian/ St. Luke’s Medical Center. Also, Children’s Hospital announced expansion plans at St. Josephs in downtown Denver as well as in Aurora.

Detroit
The near term demand for health care workers in the Detroit metropolitan area slowed notably during Q3 2010 after a spike in Q2 but remained strong. Expansions announced this quarter were considerably smaller compared to last quarter. Of note, Crittenton Hospital announced it will embark on a new campaign to raise money for a new five-story patient tower. Also, the Chelsea Community Hospital began a renovation, converting all of its semi-private rooms to private rooms, and St. Mary Mercy Hospital also began converting its semi-private rooms to private in its proposed renovations.

Houston
The near-term demand for health care workers in the Houston metropolitan area improved during the third quarter of 2010. Of note, HealthSouth is planning to construct a new 40-bed inpatient rehabilitation hospital, Harris County Hospital District and the Methodist Hospital are both opening new outpatient centers, and Texas Children’s Hospital is building a new maternity center, set to open next year. Also, Memorial Hermann Healthcare, Texas Oncology and US Oncology Inc. are collaborating on a new cancer center at Memorial Hermann Memorial City, while MD Anderson is opening satellite facilities.

Kansas
The near-term demand for health care workers in the Kansas City metro area continued to improve during the third quarter of 2010. Of note during the quarter, the University of Kansas Hospital announced that it has received approval for a $50 million expansion to its Center for Advanced Heart Care. The project will likely add 60 to 100 jobs and is expected to be completed by 2012. Also of note, Saint Luke’s East-Lee Summit added 30 beds and hired 47 new nurses for the new unit, North Kansas City Hospital is close to completing a renovation and expansion of its labor and nursery services, and Research Belton Hospital will break ground in October on a $39 million expansion that will include more than 82,000 square feet of new construction, expand emergency, surgical and inpatient capacity, and add at least 49 FT positions to the hospital’s 180 person staff.

Las Vegas
After a weak 2nd quarter, the Las Vegas health care labor market rebounded to outperform much of the rest of the country during Q3. Of particular note was the announcement in July that the VA will build its first hospital in 20 years, in Southern Nevada. The new hospital will have 90 inpatient beds and 20 mental health beds and be completed within three years. Also of note during the quarter MountainView Hospital announced a $34 million expansion that will almost double the size of its ER to 42 beds and add an ICU.

Los Angeles
The near term demand for health care workers in the Los Angeles metropolitan area slipped during the third quarter of 2010. Of particular note during a somewhat quiet quarter, Grossman Burn Center reopened in a $3 million, 13,500 square foot facility at the West Hills Hospital and Medical Center.

Miami
The near team demand for health care workers in the Miami-Fort Lauderdale-Miami Beach metropolitan area continued to improve during the third quarter of 2010. Of note, construction workers are putting the finishing touches on West Kendall Baptist Hospital, the region’s newest, which will open in 2011 with 133 beds, create nearly 1000 new jobs, and attract close to 700 physicians who will work at the hospital and a four-story 62,000 square foot medical officer building next to it. Also of note, Palm Beach Gardens Medical Center is set to unveil its $13.6 million emergency department expansion and Miami Childrens opened its first clinic in Palm Beach County.

Minneapolis
The near term demand for health care workers in the Minneapolis St. Paul metropolitan area held relatively steady during the 3rd quarter of 2010. Of note, the University of Minnesota and Fairview Health Services officially kicked off a $175 million campaign to fund the new University of Minnesota Amplatz Children’s Hospital, scheduled to open in early 2011. Park Nicollet Health Services has also restarted building at Methodist Hospital in St. Louis Park, a year after it put projects on hold due to the recession. On a negative note, North Memorial Health Care plans to eliminate 200 positions to make up for second-quarter revenue shortfalls and Children’s Hospital and Clinics of Minnesota plans to eliminate between 200 and 250 full-time positions by mid-November.

New York City
The near-term demand for health care workers in the New York metropolitan area during the third quarter of 2010 improved over last quarter despite continued layoffs. These layoffs included 59 the Health and Hospitals Corporation, over 500 at the Metropolitan Jewish Geriatric Center, nearly 200 St. Peter’s University Hospital, and 200 from New York-Presbyterian Hospital. On a positive note, the Sloan-Kettering Hospital is opening a Brooklyn outpatient site, and the New York Hospital Queens opened its new West Wing expansion.

Orlando
The near term demand for health care workers in the Orlando metropolitan area slowed considerably during Q3 2010 after a spike in Q2. Expansions announced this quarter were notably smaller compared to last quarter. Of note, Florida Hospital Waterman is adding an open heart surgery program early next year. The Walt Disney Pavilion is adding four peds operating rooms and 12 pre and post-operation rooms, in addition to a family lounge and consultation room. MD Anderson is collaborating with Orlando Health to provide cancer services at Dr. P. Phillips Hospital, and the Department of Veterans Affairs is hiring 160 new employees multispecialty clinic this year. Also, a new psychiatric hospital is waiting for approval, which could create 203 new jobs.

Philadelphia
After three strong quarters, the demand for health care workers in the Philadelphia metropolitan area fell off slightly during Q3 of 2010. Of note were 25 nursing layoffs at Mercy Fitzgerald Hospital over the last few months. Also, the Montgomery Hospital laid off 26 workers, citing financial burdens.

Phoenix
The near-term demand for health care workers in the Phoenix metropolitan area improved during the third quarter of 2010. Of note during the third quarter was the continuation of delayed construction on the new Florence Hospital. Construction had been delayed due to the economic downturn but resumed on the 40-bed hospital. Also, the new Banner Psychiatric Center opened, expecting to create 50 new jobs.

Pittsburgh
The near-term demand for health care workers in the Pittsburgh metropolitan area improved modestly during the third quarter of 2010. Of particular note, St. Clair Hospital added three new operating rooms, while Jefferson Regional Medical Center is adding new operating rooms at the Medical Center among various outpatient expansion plans. UPMC and Children’s Hospital also have outpatient clinic expansion plans in the area, and UPMC is adding 500 new jobs to its two main Pittsburgh campuses.

Portland
The near term demand for health care workers in Portland remained flat for the fourth straight quarter with little notable activity. Its Q3 LMPI score of 45.77 was down 8% from the prior quarter and compares to the national composite of 50.62.

Riverside
The near term demand for health care workers in the Riverside metropolitan area fell noticeably during Q3. Of particular note, Pomona Valley informed close to 300 of its employees that they will have their hours reduced or be laid off due to declines in patient volume.

Sacramento
The Sacramento health care labor market held somewhat steady during Q3 despite some layoffs at Sutter. Of note, Catholic Healthcare West announced plans to open a $20 million outpatient diagnostic and cancer treatment center in Sacramento later next year and Doctors Express, an urgent care company, expects to open six clinics in the area over the next 18 months.

San Diego
The near term demand for health care workers in the San Diego metropolitan area fell during Q3 of 2010. Notably, CareFusion announced that it will lay off 180 locally and Tri-City Medical Center eliminated 90 jobs to curb an ongoing budget deficit. On a positive note, Rady Children’s Hospital will open a new 4-story building this month that will expand its capacity to 442 licensed beds from 288 and make it the state’s largest pediatric acute care hospital.

San Francisco Bay
The near term demand for health care workers in the SF Bay Area slowed during Q3 after a robust first half of the year, but still remained stronger than much of the rest of the country. Of note during the quarter, there was much activity in the North Bay. Sutter Health formally broke ground on its new $284 million hospital in Santa Rosa and Kaiser Santa Rosa was poised to open a new wing that will increase the number of licensed beds to 167 from 197. Nearby in Napa, Queen Valley Medical Center began construction on a 72,000 square foot expansion that increase ICU beds by 20%. On a negative note, a number of Bay Area hospitals have quietly continued to lay off workers as part of earlier announced cuts.

San Jose
The near term demand for health care workers in the San Jose metropolitan area continued to strengthen during the 3rd quarter of 2010. Of note during the quarter, Kaiser Redwood City announced that it began initial planning for a 149-bed facility that it will begin building next summer. Also of note, Santa Clara County officials unveiled details of new plans for a 60,000-square-foot medical clinic near the site of the old San Jose Medical Center and El Camino Hospital said it plans to lay off 140 by the end of October due to declines in patient activity and a drop in revenues.

Seattle
The near-term demand for health care workers in the Seattle area continued to improve during Q3. Of note the Downtown Emergency Service Center is hiring nearly 100 people to staff a new crisis center in Seattle including 85 clinical management positions, including nurses and psychiatrists. Also of note during the quarter, Swedish announced plans to expand its research programs that include the hiring of additional full-time clinicians, research nurses, grant writers, database coordinators and publications assistants.

St. Louis
The near term demand for health care workers in the St. Louis metropolitan area improved slightly during the third quarter. Of particular note, construction began on a $203 million expansion at the University of Missouri that will add a new cancer treatment center, an eight-story addition, 12 new operating rooms, 90 private rooms for patients and 300,000 square feet of new space. Also of note, SSM DePaul Health Center in Bridgeton broke ground on a $23 million rehab facility that will employ 150.

Tampa Bay
After three solid quarters of growth, the Tampa Bay health care labor market slowed markedly during the third quarter. Of particular note, the University Community Hospital-Carrollwood is nearing completion of an expansion that will add an intensive care unit, progressive care unit and operating rooms. The new ICU and PCU with 23 total beds will add 6,000 square feet to the hospital’s Medical Arts Tower.

Washington D.C.
The near term demand for health care workers in the Washington D.C. metropolitan area fell off slightly during Q3. Of note was the elimination of an unknown number of positions by Howard University as part of a major restructuring. On a positive note, Childrens National Medical Center won approval to begin work on its first major expansion since the current hospital was built, adding 20 beds.

   

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