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Los Angeles-Long Beach-Santa Ana, CA

Los Angeles-Long Beach-Santa Ana, CA
Q4 2011 - Market Summary

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.

On a comparative basis, the strength of the Los Angeles health care labor market registered slightly weaker for the quarter and below much of the rest of the country. Its Q3 LMPI score is at 44.2, below the national composite of 52.9, down 3% from the third quarter.

Q4 Workforce Announcements

Cedars-Sinai Medical Center, Los Angeles
Over the next year, Cedars-Sinai Medical Center plans to close its inpatient and outpatient psychiatry programs. Hospital officials said patients in the two programs will be transitioned to other facilities. The medical center plans to retain mental health services in its cancer center, emergency department and other clinical units. Cedars-Sinai also plans to gradually phase out its psychiatry residency program. Officials said they are scaling back the mental health programs because of the hospital’s financial situation and changes in the health care industry.

http://www.californiahealthline.org/articles/2011/12/2/california-hospital-news-roundup-for-the-week-of-december-2-2011.aspx?topic=hospitals#ixzz1hxqVe6Ig
http://www.bizjournals.com/losangeles/news/2011/12/01/cedars-sinai-to-close-most-psychiatry.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 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 Los Angeles-Long Beach-Santa Ana, CA 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 Los Angeles-Long Beach-Santa Ana, CA 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 Los Angeles-Long Beach-Santa Ana, CA market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 12,872,808, #2 largest market
  • U.S. Census Bureau Population #298 oldest market
  • U.S. Census Bureau Population Growth 4.1%, #242 fastest growing market
   

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