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Washington-Arlington-Alexandria, DC-VA-MD-WV

Washington-Arlington-Alexandria, DC-VA-MD-WV
Q4 2011 - Market Summary

The near-term demand for health care workers in the DC metro area strengthened during Q4. Of note during the quarter, the National Rehabilitation Hospital in the District announced plans for a $25 million philanthropic campaign to fund its biggest expansion since opening on the Washington Hospital Center campus in 1986. Also of note, Inova Health System intends to build a $31 million ambulatory care center in Ashburn, and Holy Cross Hospital obtained final regulatory approval to break ground on its Germantown hospital.

On a comparative basis, the DC health care labor market improved during Q4 relative to much of the rest of the country. Its Q4 LMPI score of 47.7, up 7% from Q3, was just under the national composite of 52.9, up 6% from the prior quarter.

Q4 Workforce Announcements

National Rehabilitation Hospital eyes $25M expansion. December 23, 2011
National Rehabilitation Hospital in the District is launching a $25 million philanthropic campaign to fund its biggest expansion since opening on the Washington Hospital Center campus in 1986.
The hospital, owned and operated by Columbia, Md.-based nonprofit MedStar Health, wants to add about 40,000 square feet to its 200,000-square-foot facility in Northwest D.C.
http://www.bizjournals.com/washington/print-edition/2011/12/23/national-rehabilitation-hospital-eyes.html

Crofton urgent care chain Righttime Medical Care to expand in D.C. area. November 11, 2011
Righttime Medical Care, a Crofton, Md.-based chain of expanded-hours doctors’ offices, is preparing a major expansion in the Washington area next year, setting up new Montgomery County locations and scouting space in Virginia for the first time. Righttime’s expansion is part of a groundswell in so-called retail medicine as entrepreneurs and established providers alike try to cash in on expanded insurance coverage, experts say. Righttime Medical Care’s 350 employee count could grow to nearly 500, including 20 to 25 new workers at each clinic. The company, founded in 1989 by Dr. Robert Graw and his partners, plans open an office in Olney, its ninth, in December and expects to add five more clinics in 2012.
http://www.bizjournals.com/washington/print-edition/2011/11/11/crofton-urgent-care-chain-righttime.html

Holy Cross gets OK for Germantown hospital. October 21, 2011
Holy Cross Hospital obtained on Thursday the final regulatory approval needed to break ground on its Germantown hospital, Montgomery County’s first new hospital in more than 30 years. The county Planning Board unanimously approved the site plan for a 93-bed, 237,000-square-foot facility.
http://www.bizjournals.com/washington/breaking_ground/2011/10/holy-cross-gets-ok-for-germantown.html

Inova Health System plans $31M HealthPlex in Ashburn. October 7, 2011
Inova Health System intends to build a $31 million ambulatory care center in Ashburn, staking another land claim in a hotly contested battle with HCA Virginia for Loudoun County market share. The proposed Ashburn center, which follows Inova’s standard HealthPlex model, will include a 24-hour emergency department, a diagnostic imaging center and physician office space for independent doctors closely aligned with Inova.
http://www.bizjournals.com/washington/print-edition/2011/10/07/inova-health-system-plans-31m.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 announced during Q4 2011.

Education Programs

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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,358,130, #9 largest market
  • U.S Census Bureau Population #170 oldest market
  • U.S. Census Bureau Population Growth 11.7%, #105 fastest growing market
   

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