Denver-Aurora, CO
Q4 2011 - Market Summary

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.
Overall, the Denver health care labor market outperformed much of the rest of the country during Q4, registering an LMPI score of 109.6 vs. the national composite of 52.9, and up 133% from the prior quarter.

Q4 Workforce Announcements

Kaiser Permanente plans northern Colorado expansion. December 13, 2011
Kaiser Permanente Colorado has filed for regulatory approval to expand into Loveland, Fort Collins and Greeley. If Kaiser’s plan wins approval from the Colorado Division of Insurance, it will provide coverage to residents of northern Colorado for the first time. Kaiser anticipates the expansion will take place by late 2012. Kaiser estimated its expansion will create as many as 100 jobs in the next several years.
http://www.bizjournals.com/denver/news/2011/12/13/kaiser-permanente-plans-northern.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions or closures in 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 Denver-Aurora, CO 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 Denver-Aurora, CO 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 Denver-Aurora, CO market.

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

Additional Factors Influencing HWS Labor Market Pulse^TM Index

• U.S. Census Bureau Population 2,506,626, #21 largest market
• U.S, Census Bureau Population 240th oldest market
• U.S. Census Bureau Population Growth 15%, #74 fastest growing market