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Tampa-St. Petersburg-Clearwater, FL

Tampa-St. Petersburg-Clearwater, FL
Q4 2010 - Market Summary



The near term demand for health care workers in the Tampa metropolitan area rebounded and strengthened during the fourth quarter of 2010, after two consecutive drops. Of note during the quarter: Tampa General Hospital opened the first phase of its new Jennifer Leigh Muma neonatal intensive care unit, which will house 82 single-patient rooms, and a 12-bed assessment transition area. Edward White Hospital opened a 30-bed skilled nursing unit. And Mease Dunedin Hospital completed a new ambulatory care unit which includes 14 new private patient recovery rooms and three examination rooms. Oak Hill Hospital also began a $50 million, 100,000-square-foot construction project, which will add eight operating rooms and a two-story inpatient bed tower with 36 private rooms.

On a comparative basis, the Tampa health care labor market was the strongest in the country for Q4. Its Q4 LMP score of 88.5, was up 85% from the prior quarter, and well above the national composite of 49.8.

Q4 Workforce Announcements



Mease Dunedin Hospital expands with new ambulatory care unit. December 30, 2010
 As part of its ongoing expansion projects, Mease Dunedin Hospital, 601 Main St., has built a new ambulatory care unit. The latest expansion includes 14 new private patient recovery rooms, three examination rooms, patient lockers, two centralized nurse’s stations and a new surgery family waiting area with a calming water feature to greet visitors.
http://www.tampabay.com/news/health/briefs-mease-dunedin-hospital-expands-with-new-ambulatory-care-unit/1142491

Edward White Hospital opens skilled nursing unit. December 28, 2010
 Edward White Hospital has opened a 30-bed skilled nursing unit. The unit is designed to support orthopedic and other post-surgical patients who need extra time in the hospital to recover.
http://www.bizjournals.com/tampabay/news/2010/12/28/edward-white-hospital-opens-skilled.html

Oak Hill Hospital unveils $50M project. December 15, 2010
 Oak Hill Hospital has begun a $50 million, 100,000-square-foot construction project. The hospital will add eight operating rooms and a two-story inpatient bed tower with 36 private rooms.
http://www.bizjournals.com/tampabay/news/2010/12/15/oak-hill-hospital-unveils-50m-project.html

Ceremony breaks ground on Wesley Chapel’s first hospital. December 15, 2010
 Set to open in about two years, the 80-bed hospital on Bruce B. Downs Boulevard will occupy 200,000 square feet on 52 acres and create about 300 to 400 jobs.
http://www.tampabay.com/news/health/medicine/ceremony-breaks-ground-on-wesley-chapels-first-hospital/1140049

St. Joseph’s Hospital opens $35 million expansion. December 10, 2010
 St. Joseph’s Hospital has opened a new wing that includes 52 private patient rooms and a new intensive care unit.
http://www.bizjournals.com/tampabay/news/2010/12/10/st-josephs-hospital-opens-35.html
 http://www.prnewswire.com/news-releases/st-josephs-hospital-opens-35-million-expansion-111676969.html

Tampa General Hospital opens $35M NICU. November 9, 2010
 Tampa General Hospital took the wraps off the first phase of the Jennifer Leigh Muma neonatal intensive care unit. The new NICU will have 82 single-patient rooms, and a 12-bed assessment transition area. The first 68 beds will open Nov. 30, with a second phase to open in six to eight months.
http://www.bizjournals.com/tampabay/news/2010/11/09/tampa-general-hospital-opens-35m-nicu.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 Tampa-St. Petersburg-Clearwater, FL 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 Tampa-St. Petersburg-Clearwater, FL 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 Tampa-St. Petersburg-Clearwater market.

Source: www.bls.gov accessed 1/5/2011

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,733,761, #19 largest market
  • U.S. Census Bureau Population #18 oldest market
  • U.S. Census Bureau Population Growth 14.1%, #82 fastest growing market


   

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