San Francisco-Oakland-Fremont, CA
San Francisco-Oakland-Fremont, CA
Q3 2010 - Market Summary
After healthy growth during Q1 and Q2, the SF Bay area health care labor market weakened somewhat during Q3. Of note, St. Rose Hospital announced a 10% reduction in workforce, while La Clinica, the Dept of Veteran’s Affairs, and Kaiser Permanente San Leandro all announced plans to rebuild and expand.
On a comparative basis, the strength of the SF Bay area health care labor market as measured by the HWS Labor Market Pulse Index fell off by 13% during Q3, registering a Q2 LMPI score of 50.00. This score was still above the national composite of 48.0, down 3% from the prior quarter.
Q3 Workforce Announcements
St. Rose Hospital, Hayward. September 23, 2011
Officials at St. Rose Hospital in Hayward recently announced that the hospital is reducing its workforce by about 10%.
http://www.californiahealthline.org/articles/2011/9/23/california-hospital-news-roundup-for-the-week-of-september-23-2011.aspx?topic=hospitals#ixzz1aK6rL7Fi
http://www.insidebayarea.com/news/ci_18956138
La Clinica, Oakley. August 19, 2011
La Clinica plans to open a new primary care facility in Oakley this October, the Contra Costa Times reports. The 3,900 square-foot clinic, which will cost approximately $800,000, is expected to primarily serve low-income residents and uninsured populations.
http://www.californiahealthline.org/articles/2011/8/19/california-hospital-news-roundup-for-the-week-of-august-19-2011.aspx?topic=hospitals#ixzz1aK7pjre9
Department of Veterans Affairs, French Camp. July 29, 2011
The Department of Veterans Affairs has selected French Camp as the site for a new $280 million veterans’ health care facility.
The decision ends years of uncertainty about where VA would build the facility. Over the past year, both French Camp and Stockton vied to serve as the location for the new medical center. The new facility will include a 120-bed nursing home and a 165,000 square-foot outpatient clinic.
http://www.californiahealthline.org/articles/2011/7/29/california-hospital-news-roundup-for-the-week-of-july-29-2011.aspx?topic=hospitals#ixzz1aK2UK6hl
Last week, construction workers set the final steel beam in place for Kaiser Permanente San Leandro Medical Center, which is expected to open in late 2014.
The new 425,000 square-foot building will replace the 40-year-old Kaiser Permanente Hayward Medical Center, which does not meet state seismic safety regulations. The San Leandro hospital will include 264 acute care beds, 10 operating rooms, 40 emergency department treatment rooms, a neonatal intensive care unit and 116 offices for primary care physicians and specialists.
http://www.californiahealthline.org/articles/2011/7/15/california-hospital-news-roundup-for-the-week-of-july-15-2011.aspx?topic=hospitals#ixzz1aK4f55Nb
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion and Closures
No notable education program expansions and closures announced during Q3 2011.
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 San Francisco-Oakland-Fremont, CA market.
Source: http://www2.standardandpoors.com accessed 10/10/2011
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 Francisco-Oakland-Fremont, CA market.
Source: www.census.gov accessed 10/10/2011
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 Francisco-Oakland-Fremont, CA market.
Source: www.bls.gov accessed 10/10/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 4,274,531, #13 largest market
- U.S. Census Bureau Population #159 oldest market
- U.S. Census Bureau Population Growth 3.7%, #249 fastest growing market
- Executive Summary
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