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St. Louis, MO-IL


St. Louis, MO-IL
Q3 2011 - Market Summary

The near-term demand for health care workers in the St. Louis metro area remained relatively flat during Q3 despite some slight activity. Of note, Patients First announced its plan to layoff 5% of its staff, with future plans to freeze benefits. Also, a new, rebuilt St. John’s Regional Medical Center will begin construction , and Sisters of Mercy Health Care is planning capital improvements in its facilities over the next decade.

On a comparative basis, the St. Louis health care labor market came in slightly lower than the national average. Its Q3 LMPI score of 46.3, up 3% from the prior quarter, was just under the national composite of 48.0, down 3% from the prior quarter.



Q3 Workforce Announcements

Patients First to lay off 5 percent of staff, considers options. September 2, 2011
After years of rapid growth, physician group Patients First Health Care LLC plans to lay off 5 percent of its staff and is considering affiliating with one of St. Louis’ major health systems. Patients First shared the strategy with its 650 employees via video message. Phase 1, which includes roughly 30 layoffs, is set to take effect Sept. 2. Starting on Sept. 6, Patients First will begin phase 2, a “right-sizing” that includes freezing nonessential business travel and employee benefits such as the 401(k) match. Phase 3, integration, is still evolving but possibilities range from full hospital employment to professional service agreements for doctors.
http://www.bizjournals.com/stlouis/print-edition/2011/09/02/patients-first-to-lay-off-5-percent-of.html

Rebuilt St. John’s to open in Joplin in 2014. August 17, 2011
The new St. John’s Regional Medical Center in Joplin will begin construction in January for a 2014 opening. The system’s Joplin hospital was destroyed in the May 22 tornado. The new hospital will have an initial 327 beds, but will expand to 424, or 50 more than the previous site.
http://www.bizjournals.com/stlouis/morning_call/2011/08/rebuilt-st-johns-to-open-in-joplin.html

Mercy to spend $236M on new Washington hospital, other facilities. July 1, 2011
Sisters of Mercy Health Care plans to pump $236 million worth of capital improvements into its Washington, Mo., facilities in the next decade. A total of 41 new physicians will be hired in response to the community’s demand for local care. There currently are 128 Mercy physicians in Washington, with plans to add 26 primary care and 15 specialty doctors.
http://www.bizjournals.com/stlouis/news/2011/07/01/mercy-to-spend-236m-on-new-washington.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansions and Closures

No notable education program expansions or closures announced during Q3 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 St. Louis, MO-IL 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 St. Louis, MO-IL market.

Source: www.bls.gov accessed 10/10/2011

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,816,710, #18 largest market
  • U.S. Census Bureau Population #130 oldest market
  • U.S. Census Bureau Population Growth 4.4%, #239 fastest growing market


   

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