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Las Vegas-Paradise, NV

Las Vegas-Paradise, NV
Q4 2011 - Market Summary

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.
On a comparative basis the Las Vegas health care labor market remained close inline than much of the rest of the country during Q4. Its Q4 LMPI score of 50.8 was up 11% from the prior quarter and above the national composite of 52.9.

Q4 Workforce Announcements

Kindred opens hospitals in Seattle, Las Vegas. December 5, 2011
Louisville-based Kindred has 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.
The company also has opened Kindred Hospital-Las Vegas at St. Rose Dominican Hospitals-Rose de Lima Campus in Henderson, Nev. The new facility replaces a Kindred-run unit that was located in Desert Springs Hospital in Las Vegas. Kindred operates two other hospitals in Las Vegas as well as a sub-acute unit, two nursing and rehabilitation centers, two home health locations and two hospice operations in the market.
http://www.bizjournals.com/louisville/news/2011/12/05/kindred-opens-hospitals-in-seattle.html

Hospitals and 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 Las Vegas-Paradise, NV 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 Las Vegas-Paradise, NV 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 Las Vegas-Paradise, NV market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 1,865,746 #30 largest market
  • U.S. Census Bureau Population #183 oldest market
  • U.S. Census Bureau Population Growth 35.6%, #7 fastest growing market
   

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