HEALTHCARE & ECONOMIC DEVELOPMENT VIRGINIA CHAMBER 2012 HEALTHCARE CONFERENCE JUNE 7, 2012 ROBERT W. MCCLINTOCK RESEARCH DIRECTOR, VEDP.

Slides:

Advertisements

Similar presentations

Economic Development Strategy Salt Lake City Corporation October 2008.

Advertisements

TABLE OF CONTENTS CHAPTER 1.0: Trends in the Overall Health Care Market Chart 1.1: Total National Health Expenditures, 1980 – 2005 Chart 1.2: Percent Change.

Bay Area Council Economic Institute The Bay Area Regional Economic Assessment.

CALED Annual Conference Presentation Allied Health Workforce A Long Term Perspective April 28, 2011 Cathy Martin Director, Workforce California Hospital.

Amy Blouin, Executive Director The Missouri Budget Project Andrew Nicholas Center on Budget & Policy Priorities The State.

Maine’s Health Sector and Workforce Statistics-Trends-Projections October 18, 2011 Paul Leparulo, CFA Principal Economic Research Analyst.

Welcome Welcome Sacramento Regional Economic Vitality Conversation August 4, 2004 Made possible through generous support from Pacific Gas and Electric.

Medical Development as a Catalyst for Economic Development Keith Dines, Executive Vice President, Strategic Development.

Careers Conference 2009 January 26, LONG-TERM EMPLOYMENT OUTLOOK Presenter: Victoria Udalova, Economist Office of Economic Advisors WI Department.

Employment Projections -- General Information

Market Facilitation Strategy Industry engagement in a demand driven VET system CEET Conference October 2010 John Spasevski.

Manufacturing and the New Hampshire Economy Ross Gittell James R. Carter Professor University of New Hampshire.

The US Healthcare System Impact on Equity, Efficiency and Effectiveness.

Manufacturing and the New Hampshire Economy Ross Gittell James R. Carter Professor University of New Hampshire.

Medicare spending is 14% of the federal budget Total Federal Spending in 2013: $3.5 Trillion MEDICARE Medicaid Net interest Social Security Defense Nondefense.

Major Health Issues The Affordable Healthcare Act.

Beyond Health Care: The Economic Contribution of Hospitals July 2006.

The U.S. Public Workforce System An Overview. Overview: The Workforce System and its evolution Defining today’s innovation economy WIRED Initiative and.

Florida College Access Network (FCAN) October 16, 2014 Presenter: Denise Lawson, College Measures Higher Education Pays:

Triple Helix IX International Conference Stanford University Triple Helix IX International Conference Stanford University History Planning Future Research.

© 2007 AT&T Knowledge Ventures. All rights reserved. AT&T and the AT&T logo are trademarks of AT&T Knowledge Ventures. The Importance of Health Care at.

Maine’s Health Sector and Workforce Trends-Projections-Challenges June 13, 2013 Paul Leparulo, CFA Principal Economic Research Analyst.

Imagine that you're one of the estimated 36 million adults in the U.S. who has limited skill levels. You want to improve your skills and get a better.

1 Ohio Health Care Employment Labor Market Trends and Challenges.

Health Care Systems 1. Describe at least eight types of private health facilities. 2 Analyze at least three government agencies and the services offered.

Wisconsin Health Care Workforce Challenges- Grow Wisconsin Initiative.

The Kentucky Rural Health Works Program A collaborative effort of the: UK Department of Agricultural Economics UK Center for Rural Health UK Cooperative.

UK COMMISSION FOR EMPLOYMENT AND SKILLS Ambition 2020: World Class Skills and Jobs ANNUAL IED CONFERENCE Bournemouth 7-8 th October 2009 Michael Davis.

Nathan Tinker Executive Director New York Biotechnology Association New York BizBio 2009 Fighting for a Healthy Biotech Industry.

What’s Happening on Main Street Montana Main Street Montana Project Presentation Given at the League of Cities and Towns Conference at the Red Lion Helena,

Trends in the Manufacturing Sector in Massachusetts Sharing Skills ~ Building Connection Conference, March 12, 2008 Rebekah Lashman Jonathan Latner Navjeet.

What’s Happening on Main Street Montana Main Street Montana Project Roundtable Great Falls, Montana June 12, 2013.

Overview  Overview of Irish Economy  Key Business Sectors  Skills requirements.

Registered Apprenticeship A Key Strategic Talent Development Tool.

Matching Demand with Supply in Local Labor Markets.

United States High Growth Industry Initiatives Gregg Weltz Director of Youth Services U.S. Department of Labor XIV Inter-American Conference of Ministers.

What’s Happening on Main Street Montana Adapted from the Main Street Montana Project Presentation Helena, Montana June 27, 2013.

Peterson-Kaiser Health System Tracker How has U.S. spending on healthcare changed over time?

June 11, 2010 Advanced Manufacturing, Green Jobs, and Health Care Governor’s Council on Workforce Investment June 11, 2010 Three Key Sectors for Workforce.

Healthy Economy, Healthy Colorado A Strategic Action Plan for Colorado’s Health and Wellness Industry December 11, 2013 History Colorado Center.

Competition, Challenges and Mixed Signals in the Health Workforce Family Impact Seminar, East Lansing, MI May 7, 2013 Stephen N. Collier, Ph.D. Professor.

Chapter 6: The Economic Contribution of Hospitals.

Is Northern Colorado Still an “Advanced Technology” Economy? Professor Martin Shields Regional Economics Institute Colorado State University.

Economic Conditions in the Sacramento Region ULI Real Estate Outlook 2013 December 6, 2012 Ryan Sharp, CEcD CSER Director.

What does a national recession mean for Roanoke? 26 January 2009 Roanoke, Virginia Presented by Jon Roberts TIP Strategies, Inc. Austin, Texas.

Navigating the Changes in Economic Development – Sighting for the Collaborative Lighthouse Federal Laboratory Consortium Mid-Atlantic Regional Meeting.

Pennsylvania Health Care Jobs, 1998 Dennis G. Shea, Ph.D. Department of Health Policy and Administration University Park, PA Data for this presentation.

Best Practices in Business Retention. Economic Development Best Practices in Business Retention TVA Perspective Business Case for Retention Award Winning.

The Worth of Health Care By Gerald A. Doeksen Regents Professor and Director National Center for Rural Health Works Presentation at Virginia College of.

Remarks to the World Congress May 12, 2008 Role of Official Statistics in a Modern Society: A U.S. Perspective Keith Hall Commissioner Bureau of Labor.

2010 State Of The Valley Conference. 1,800 square miles 40 Cities, 4 counties 2.9 million people, 36 percent foreign born 1.4 million workers 81 percent.

D2N2 LEP Skills for a Productive Workforce Construction University of Derby, Enterprise Centre 24 th July 2015.

Prepared by Collaborative Economics. EXECUTIVE SUMMARY  San Diego is participating in a new global innovation economy  San Diego’s global reach has.

Chartbook 2005 Trends in the Overall Health Care Market Chapter 6: The Economic Contribution of Hospitals.

Committee of 100 for Economic Development IFFCBANO Conference

Washtenaw County Workforce Development Strategic Planning Process Overview May 2011.

Where is the U.S. Economy Going? Barry Bluestone Northeastern University Laborers’ International Union Hilton Hotel Anchorage, Alaska July 10, 2005.

Post-Acute Care Healthcare Beyond The Hospital Claire M. Zangerle, RN, MSN, MBA President and Chief Executive Officer.

Northeast Ohio Healthcare Sector Offers Strong Employment Prospects A Trove of Opportunity:

Healthcare Jobs in New York City

The Demand-Driven Workforce Investment System

The Socio-Economic Benefits of Crop Protection Products

Kirsten Trussell Skills Development Manager

Presentation by: Anderson Economic Group, LLC Scott D

This presentation provides:

Biomedical/Biotechnical (Life Science) Cluster

Imagine that you're one of the estimated 36 million adults in the U. S

The Changing Demographics of Central Wisconsin

HOSPITAL PROCUREMENT FRENCH EXPERIENCE

How much is health spending expected to grow?

Presentation transcript:

HEALTHCARE & ECONOMIC DEVELOPMENT VIRGINIA CHAMBER 2012 HEALTHCARE CONFERENCE JUNE 7, 2012 ROBERT W. MCCLINTOCK RESEARCH DIRECTOR, VEDP

EVOLVING STORY IN ECONOMIC DEVELOPMENT As healthcare issues have entered the mainstream of business … So too, are we recognizing an intersection between economic development and healthcare. Economic Development Healthcare

HEALTHCARE: ECONOMIC IMPACT Healthcare : Estimated at 17.9% of U.S. GDP (2010) $2.6 trillion -up from about 16% just 6 years ago In VA, 2011 economic impact estimated at $27.7 billion (for hospital and health systems only) Employment: Healthcare & healthcare support occupations together represent about 12 million U.S jobs (2010) (~ 8.4% of all national employment)

VIRGINIA HEALTHCARE & RELATED EMPLOYMENT Virginia Healthcare Employment, 2011 CategoryEmployment Ambulatory Care154,685 Hospitals122,668 Social Assistance82,573 Pharmacies and Drug Wholesalers19,728 Life and Health Insurance11,885 Medical Supplies and Equipment9,341 Public Health Programs6,786 Research & Testing3,832 Pharmaceuticals3,146 Total414,644 Source: VEC, QCEW (1Q11-4Q11)

VIRGINIA HEALTHCARE & RELATED EMPLOYMENT Of the top 50 employers in Virginia, eight are hospital systems

IF WE’RE ABOUT JOBS….. Healthcare and support occupations reflect an importance surge in recent and projected growth : – U.S. overall lost 7.5M jobs (-5.0%) – Healthcare employment rose by 1.07M (+21%!) Going Forward: – BLS projects 3.46M jobs in field by 2020 – About 30% over the decade ending 2020 – Double the growth rate of all occupations

JOBS…..AND WHERE TO FIND THEM 13 of the 20 fastest growing occupations are in the healthcare or related fields The list includes practitioners and technical occupations as well as large office and administrative support occupations -- employed across many different industries and will gain jobs as the economy recovers Implications for education & workforce providers Also, real estate – changing means of service delivery & locations for facilities; outpatient and satellite needs; new product mix

VIRGINIA PROJECT ANNOUNCEMENTS Project Announcements48+167% New Jobs3,184+96% New Capital Investment$457.1 Million+325% Economic development projects increasingly include names associated with Healthcare, Life Sciences, Medical and Related Industries. These types of projects are up significantly from the previous 2-year period.

RECENT VIRGINIA PROJECT ANNOUNCEMENTS Defense Health Headquarters (DHHQ)

ECONOMIC DEVELOPMENT - SITE SELECTION Although Virginia’s Overall Cost Profile is competitive – Ranked #14 in employer’s share of family coverage health premiums (Kaiser Family Foundation) – 93% of the U.S. Average Conversation moving beyond cost considerations Quality and Accessibility of Care beginning to show up in regional analyses by consultants/clients Not yet a “Top 5” consideration, but comes up as Quality of Life is being evaluated

ECONOMIC DEVELOPMENT - SITE SELECTION Healthcare……….Stronger linkages to Talent Acquisition & Workforce – Relates to skills, depth, educational attainment, insurance costs, innovation, productivity – Ultimately connects to competiveness and sustainability of the operation Gets to operating bottom line Communities’ shifting awareness emerging in new marketing messages and promotion of regional wellness, outdoors initiatives & branding

Thanks!