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St. Louis, MO-IL

St. Louis, MO-IL
Q4 2010 - Market Summary



The near term demand for health care workers in the St. Louis metropolitan area remained relatively flat during the fourth quarter. Of note, St. Luke’s opened a new $1.5M urgent care and medical office center, CenterPointe Hospital announced plans to break ground on a $12 million expansion that will lead to 100 new jobs, and Shriners Hospital for Children once again delayed its plan to build a new hospital at Washington University due to economic concerns.

On a comparative basis, the strength of the St. Louis health care labor market weakened slightly from the prior quarter as measured by its Q4 LMPI score of 46.4, down just 5% from the prior quarter and near the national composite of 49.8.

Q4 Workforce Announcements



Shriners project delayed, CON extended. December 31, 2010
 Shriners Hospital for Children’s plan to build a new hospital at Washington University Medical Center has been delayed once again due to the economy. The project was supposed to break ground by the end of 2010 but the hospital system’s governing board in Tampa, Fla., did not put the project on its construction list for 2011, meaning the soonest that construction can now start is 2012. The size of the project has not changed and is still expected to include 40 inpatient beds, four surgical suites and 30 clinic examination rooms.
http://www.bizjournals.com/stlouis/news/2011/01/03/shriners-project-delayed-con-extended.html

CenterPointe psych hospital begins $12M expansion. November 30, 2010
 CenterPointe Hospital, a private psychiatric hospital in St. Charles, is breaking ground on a $12 million expansion. The hospital anticipates hiring up to 100 additional employees following the expansion.
http://www.bizjournals.com/stlouis/news/2010/11/30/centerpointe-hospital-begins-12m.html

St. Luke’s Hospital opens $1.5M urgent care center. October 18, 2010
 St. Luke’s Hospital has opened its new $1.5 million urgent care and medical office center. Koman Group developed the 15,000-square-foot, one-story building, which houses St. Luke’s Urgent Care, office space for primary care physicians, and X-ray and lab services.
http://www.bizjournals.com/stlouis/news/2010/10/18/st-lukes-hospital-opens-15m-urgent.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 Q4 2010.

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 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 St. Louis, MO-IL market.

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

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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