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Atlanta-Sandy Springs-Marietta, GA


Atlanta-Sandy Springs-Marietta, GA
Q4 2010 – Market Summary



The near term demand for health care workers in the Atlanta metropolitan area continued to fall during Q4. Of particular note during the quarter were notable cuts at Gwinnett and Piedmont Hospitals. On a positive note, Piedmont Hospital also announced that it would invest about $15 million in an expansion that will boost inpatient bed capacity by about 10 percent, adding nearly 50 beds. Emory Eastside Medical Center also plans to invest about $80 million in an expansion that could create about 300 jobs and boost the Gwinnett hospital’s inpatient bed capacity by nearly a third.

On a comparative basis, the strength of the Atlanta health care labor market remained inline with much of the rest of the country despite weakening by 9% from the prior quarter as measured by its Q4 LMPI score of 49.6 (vs. the Q4 national composite of 49.8).

Q4 Workforce Announcements

Hundreds of jobs cut by Gwinnett, Piedmont hospitals, December 17, 2010
The hospital industry, considered relatively recession-proof, is taking casualties from the Great Recession. In the past month, at least two metro Atlanta health systems have axed more than 200 jobs as the economy and the threat of reimbursement cuts take a bite out of the bottom line.
http://www.bizjournals.com/atlanta/print-edition/2010/12/17/Gwinnett.html

MCIPE Constructors Launches Expansion, Renovation Project For Haplin Medical Center Guaranteeing, December 14, 2010
MCIPE Constructors & Professional Engineers today announced a $2.2 million expansion and renovation project for Haplin Medical Center. The project includes constructing a second floor atop a one-story section of the hospital to accommodate a 10-bed expansion of the hospital’s Post Anesthesia Care Unit (PACU), as well as renovating adjacent space to enlarge the Intensive Care Unit (ICU) and the hospital’s pharmacy department.
http://www.freepressreleases.co.uk/41/1562532345211345

New Venture to Open 50 IMC Urgent Care Centers, December 2010
Urgent care center chain, Immediate MedCare, LLC (IMC), and Claxton Medical, Inc. have entered an agreement to form a Limited Liability Company to own and operate at least 50 new urgent care centers, bringing IMC’s goal of 100 centers closer to fruition.
The immediate expansion of the IMC chain will make it one of the largest urgent care companies in the nation.
http://www.openpr.com/news/155042/New-Venture-to-Open-50-IMC-Urgent-Care-Centers.html

HealthSouth plans to enter metro Atlanta, November 19, 2010
The nation’s largest provider of inpatient rehabilitative services plans to elbow into metro Atlanta with a 50-bed hospital. HealthSouth Corp. is seeking approval to develop a roughly $26 million hospital in Newnan, where it would employ about 120. The hospital would provide rehab therapy to inpatients recovering from, among other things, stroke, orthopedic, cardiac and pulmonary conditions and brain injury.
http://www.bizjournals.com/atlanta/print-edition/2010/11/19/healthsouth-plans-to-enter-metro-atlanta.html

Piedmont Hospital invests $15M in new beds, November 12, 2010
Piedmont Hospital will invest about $15 million in an expansion that will boost inpatient bed capacity by about 10 percent. The project involves adding nearly 50 beds to keep pace with inpatient admissions volume, which grew 8 percent in fiscal 2010, compared with the prior period.
http://www.bizjournals.com/atlanta/print-edition/2010/11/12/Piedmont.html

Emory Eastside planning $80M expansion, October 18, 2010
Emory Eastside Medical Center plans to invest about $80 million in an expansion that could create about 300 jobs. A proposed 72-bed patient tower expansion is expected to boost the Gwinnett hospital’s inpatient bed capacity by nearly a third.
http://www.bizjournals.com/atlanta/stories/2010/10/18/story9.html

Previous market news

Hospitals and Health Systems


Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions and closures announced during Q4 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 Atlanta-Sandy Springs-Marietta, GA market.


Source: http://www2.standardandpoors.com accessed 1/5/2011

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 Atlanta-Sandy Springs-Marietta, GA market.

Source: www.census.gov accessed 1/5/2011

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 Atlanta-Sandy Springs-Marietta, GA market.


Source: www.bls.gov accessed 1/5/2011

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,376,285, #8 largest market
  • U.S Census Bureau Population 286th oldest market
  • U.S. Census Bureau Population Growth 26.6%, #20 fastest growing market
   

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