Charlotte-Gastonia-Concord, NC-SC
Q4 2011 - Market Summary

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.
On a comparative basis, the Charlotte health care labor market is now stronger than much of the rest of the country. Its Q4 LMPI score of 65.9 was up 36% from the prior quarter compared to the national composite of 52.9, down 6%.

Q4 Workforce Announcements

CHS gets state OK for Huntersville facility. October 31, 2011
Carolinas HealthCare System has gained state approval to build a $33 million, 66 inpatient bed psychiatric-care facility in Huntersville. It is slated to open in 2013 and will have about 155 full-time employees.
http://www.bizjournals.com/charlotte/news/2011/10/31/chs-gets-state-ok-for-huntersville.html

Carolinas HealthCare, Presbyterian Healthcare seek to add beds. October 18, 2011
Charlotte’s health-care systems want to divvy up 107 acute-care beds available in the region through the N.C. Medical Facilities Plan. Carolinas HealthCare System has filed two certificate-of-need applications for 57 of those beds, while Presbyterian Healthcare has filed one pursuing the remaining 50 beds.
Carolinas HealthCare plans to add 19 licensed beds to its flagship facility, Carolinas Medical Center. That project would renovate 8,000 square feet, with 13 beds dedicated to general neurological care and six for neurological intensive care. That project is expected to be complete in January 2013. The health-care system also seeks 38 licensed beds at CMC-Mercy to upgrade services for orthopedic patients.
http://www.bizjournals.com/charlotte/news/2011/10/18/carolinas-healthcare-presbyterian.html

Previous market news

Hospitals & Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions and closures announced during Q4 2011.

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 Charlotte-Gastonia-Concord, NC-SC market.

Source: http://www2.standardandpoors.com accessed 1/1/2012

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 Charlotte-Gastonia-Concord, NC-SC market.

Source: www.census.gov accessed 1/1/2012

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 Charlotte-Gastonia-Concord, NC-SC market.

Source: www.bls.gov accessed 1/1/2012

Additional Factors Influencing HWS Labor Market Pulse^TM Index

• U.S. Census Bureau Population 1,701,799, 34th largest market
• U.S Census Bureau Population 228th oldest market
• U.S. Census Bureau Population Growth 27.9%, 16th fastest growing market