Seattle-Bellevue-Everett, WA
Seattle-Bellevue-Everett, WA
Q4 2011 - Market Summary
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.
On a comparative basis, the Seattle health care labor market strengthened during Q4, improving its LMPI score to 50.5, up 25% from the prior quarter, and just below the national composite of 52.9, up 6% from Q3.
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 or 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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett market.
Source: www.bls.gov accessed 1/1/2012
Additional Factors Influencing HWS Labor Market PulseTM Index
• U.S. Census Bureau Population 3,344,813, #15 largest market
• U.S. Census Bureau Population #168 oldest market
• U.S. Census Bureau Population Growth 9.9%, #139 fastest growing market
- Executive Summary
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