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Executive Summary

Q4 2011 HWS Labor Market Pulse® Index

LMPI Composite Index (historical)

SELECT MARKET HIGHLIGHTS
January 2012

HWS is pleased to announce the release of Q4 2011 results for the HWS Labor Market Pulse® Index (LMPI). The HWS LMPI is a leading indicator of local health care labor market demand as it is derived from announced expansion and contraction plans, among other data. The Index measures where near-term demand for health care workers is strongest based on a number of tracking variables including temporary health workforce shortages and surpluses, facility and bed closures, announced layoffs and expansions, and local economic trends.

2011 Fourth Quarter LMPI Highlights

• The strength in the US health care labor markets as measured by the HWS Labor Market Pulse Index® (LMPI), a leading indicator of near-term demand, rebounded notably during the fourth quarter posting its highest value since the middle of 2010.

• For the fourth quarter of 2011, the near-term demand for health care workers was strongest in the Dallas, Denver and Charlotte metropolitan areas, among others.

• Of the 30 major markets tracked by the HWS Labor Market Pulse Index® (LMPI), the weakest areas for the quarter were in the Miami, New York and Cleveland metropolitan areas.

• The LMPI composite index, a representative basket of the 30 largest markets, posted a 6% increase in the fourth quarter of 2011, following consecutive 3% declines in the prior two quarters.

• For the 4th quarter ended 12/31/11, 15 markets of the 30 tracked by the LMPI showed signs of accelerated expansion (vs. 14 in the prior quarter).

2011 Select Market Fourth Quarter Highlights

Atlanta
The near-term demand for health care workers in the Atlanta metropolitan area weakened during the last quarter of 2011, after a strong previous quarter. Of particular note during the quarter, Emory University Hospital announced an expansion of its 579-bed emergency department, adding 15 private treatment rooms the existing 21 rooms.

Baltimore
The near-term demand for health care workers in the Baltimore metropolitan area remained steady during the 4th quarter of 2011. Of particular note during the quarter, Bon Secours announced several small hiring additions in both the nursing and primary care medicine areas.

Boston
The near-term demand for health care workers in the Boston metro area improved slightly during the last quarter of 2011. Of note, financing was issued for the Baystate Medical Center’s “Hospital of the Future” project, including a new heart & vascular center with six surgical suites and 32 cardio critical-care rooms.

Charlotte
The near-term demand for health care workers in the Charlotte metro area improved considerably during the last quarter of 2011. Of note, Carolinas Healthcare System gained approval to build a 66-bed inpatient psych-care facility, which will add 155 full-time employees. CHS and Presbyterian Healthcare also gained approval to divide up the 107 acute-care beds available for the region. CHS filed for 57 beds, while Presbyterian Healthcare filed for 50. Finally, CHS plans to add 19 additional beds to its flagship facility and is seeking approval for 38 beds at CMC-Mercy.

Chicago
The near-term demand for health care workers in the Chicago metropolitan area fell during the last quarter as notable cuts were announced. Elmhurst Memorial announced closure of 57 beds in two inpatient units. The city’s mental health and public health clinics also announced service cuts and layoffs of at least 155 employees, and Vanguard Health eliminated 100 jobs at Weiss Memorial Hospital.

Cleveland
The near-term demand for health care workers in the Cleveland metropolitan area slipped during the fourth quarter of 2011 after remaining relatively stable over the past several quarters. Of note, MetroHealth System announced plans to layoff 104 employees and to eliminate 151 vacant positions. It also plans to eliminate 83 jobs over the next six months with heavy projected losses over the next two years. On a positive note, Southwest General Health System is planning a two-phase expansion beginning with an expanded emergency department, critical-care unit, and parking garage, and a second phase including a new patient tower with 100 private rooms.

Dallas
The near-term demand for health care workers in the Dallas- Fort Worth metropolitan area showed significant improvement during the last quarter of 2010. After a strong and stable year, the index now shows the Dallas- Fort Worth area to be the strongest metro for this quarter. Of note during the quarter, CareMinders Home Care is planning to open 30 offices in North Texas, generating 3,000 jobs in the region. Also, construction of the new Parkland Memorial Hospital is one of the country’s largest hospital construction projects under way. The 862-bed facility is reported to be on schedule and under budget. Finally, UT Southwestern laid the foundation for its new 460-room University Hospital.

Denver
The near term demand for health care workers in the Denver metropolitan area improved considerably during the fourth quarter of 2011 after a series of flat quarters. Of note, Kaiser Permanente filed for approval to expand coverage to northern Colorado, creating an expected 100 jobs. Also, the VA finalized construction contract plans for this new hospital in Aurora. It estimates that the new medical center will employ about 2,000 people when completed in 2015.

Detroit
The near-term demand for health care workers in the Detroit metro area fell during Q4 despite no notable labor market news. Its Q4 LMPI score of 45.8 was down 15% from the strong, prior quarter and fell below the national composite of 52.9.

Houston
The near-term demand for health care workers in the Houston metro area fell slightly during Q4. Of note, was the recognition that more than $1.2 billion in medical construction projects had been put on hold during the past couple years due to federal health care reform uncertainty and the poor economy. Several health systems were noted as delaying development and capital projects in the recent past.

Kansas City
The near-term demand for health care workers in the Kansas City metropolitan area remained steady during fourth quarter. Of note during the quarter. Saint Luke’s opened an expansion for its Mid America Heart Institute, creating 64 new jobs.

Las Vegas
The near-term demand for health care workers in the Las Vegas metropolitan area improved notably during Q4. Among the news of the quarter: Camp Pendleton broke ground on a new 500,000 square foot hospital that will include at least 54 inpatient beds, Vista Community Clinic announced plans for a $21 million expansion that will include 24 patient rooms and create 42 new jobs, and the emergency department at Sharp Chula Vista is undergoing a $12 million expansion that will more than double its capacity from 20 to 48.

Los Angeles
The near-term demand for health care workers in the Los Angeles metro area declined slightly during Q4 during a relatively quiet quarter. Of note, Cedars-Sinai Medical Center plans to close its inpatient and outpatient psych programs.

Miami
The near-term demand for health care workers in the Miami area fell during the last quarter of 201q after a strong previous quarter. Among notable job cuts either announced or conducted during the quarter were layoffs at Jackson Health (240), National Healing Corps (49) and Maxim Healthcare Services (249).

Minneapolis
The near-term demand for health care workers in the Twin Cities metro area remained steady during Q4. Of note this quarter, Maple Grove Hospital announced an expansion that will increase their number of beds by almost 50 percent. Also on a positive note, PrairieCare is more than doubling its facility, adding 12 jobs in the new location.

New York City
The near-term demand for health care workers in the New York metropolitan area rebounded in the fourth quarter despite some negative news. Of note, the Westchester MedicaLCenter announced that it was laying off 250 and eliminating another 250 positions. Montefiore Medical Center also announced layoffs of 63, St. Francis Hospital on Long Island laid off 58, Christ Hospital in Jersey City laid off 50, as did Peninsula Hospital in Far Rockaway.

Orlando
The near-term demand for health care workers in the Orlando area improved during Q4. Of note, several hospitals have large projects underway that will add considerably to the local health care workforce including Florida Hospital’s Health Village that will create 800 new jobs, and Orlando Health’s campus expansions that will add 8,000 new jobs.

Philadelphia
The near-term demand for health care workers in the Philadelphia metro area held steady during Q4. Of note, Children’s Hospital of Philadelphia is spending $150 million preparing part of the old Civic Center site for an outpatient-care center and five-story underground parking garage, and the Lourdes Specialty Hospital of Southern New Jersey announced that it will add 100 jobs as it expands from a 30-bed to a 69-bed long-term acute-care facility next spring.

Phoenix
The near-term demand for health care workers in the Phoenix metro area bounced back in Q4 after slipping in Q3. Of note, the emergency department at Phoenix Children’s Hospital is undergoing a $1 million expansion, with completion expected in the first half of 2012.

Pittsburgh
The near-term demand for health care workers in the Pittsburgh metro area remained flat during Q4. Of note, Excela Health plans to double its presence in the Norwin Hills Shopping Center by adding physician offices and expanded medical imaging services at a place where Excela has an outpatient surgery center. West Penn Hospital also announced that will add 200 jobs and 300 beds as part of a revitalization project. Finally, UPMC is getting ready to open its UPMC East facility sometime early this year.

Portland
The near-term demand for health care workers in the Portland market remained relatively flat during the fourth quarter of 2011. Of note, Legacy Health System announced that it may lay off 170 workers in January due to a reduction in Medicaid payments from the state of Oregon.

Riverside
The near-term demand for health care workers in the Riverside area improved notably during Q4. Of particular note, Kaiser Permanente opened its new $550 million hospital in Ontario in November. The 386,000 square-foot, full-service hospital includes a 36-bed emergency department, the first to open in the city in 20 years.

Sacramento
After a robust Q3, the near-term demand for health care workers in the Sacramento area fell back to where it has been for much of the year during the last quarter of 2011. Of note during the quarter, UC-Davis Medical Center opened a new, $22 million pediatric intensive care unit, nearly twice as large as its previous unit with 24 pediatric ICU beds vs. 16 before. Also of note, Sutter Medical Center Sacramento said it would eliminate or reduce hours for 17 FTEs and Radiological Associates of Sacramento announced that it would layoff 39 in its diagnostic imaging division.

San Diego
The near-term demand for health care workers in the San Diego metro area jumped notably during Q4. Of note, Kaiser Permanente announced that it has chosen a 19.5-acre county operations property in Kearny Mesa as the site for its new 350-bed hospital, scheduled to open in 2018.

San Francisco Bay
The near-term demand for health care workers in the SF Bay market rebounded during Q4 posting its highest LMPI score since mid-2010. Of note during the quarter, Sequoia announced that it was nearly halfway done with its new 104-bed inpatient pavilion scheduled to open in the spring of 2013, and Ed Medical Center announced that it was considering layoffs that could impact 5% of its staff because of declining volume.

San Jose
The strength of the San Jose health care labor market remained flat during Q4 with little notable news. Its Q4 LMPI score of 45.8 remained unchanged from the prior quarter, compared to the national composite of 52.9, up 6%.

Seattle
The near-term demand for health care workers in the Seattle metro area improved during Q4. Of particular note, Louisville-based Kindred opened Kindred Hospital Seattle-First Hill, a long-term acute-care hospital with 50 beds. By the end of the year, the company plans to open a 30-bed hospital-based, sub-acute unit on the same site.

St. Louis
The near-term demand for health care workers in the St. Louis metro area remained flat during Q4. Of note, Mercy Hospital opened an expanded burn center on its Creve Coeur campus that is located in the new $150 million 10-story patient tower.

Tampa Bay
The near-term demand for health care workers in the Tampa Bay area weakened slightly in Q4 amidst relatively little notable movements and announcements. Its Q4 LMPI score of 45.8 was down 5% from Q3 and remained under the national composite of 52.9, which was up 6% from the prior quarter.

Washington D.C.
The near-term demand for health care workers in the DC metro area strengthened during Q4. Of note during the quarter, the National Rehabilitation Hospital in the District announced plans for a $25 million philanthropic campaign to fund its biggest expansion since opening on the Washington Hospital Center campus in 1986. Also of note, Inova Health System intends to build a $31 million ambulatory care center in Ashburn, and Holy Cross Hospital obtained final regulatory approval to break ground on its Germantown hospital.


   

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