According to the Bureau of Labor Statistics, the healthcare industry, represented by the Health Care Select Sector SPDR ETF (XLV), is expected to add about 15.6 million jobs during the decade from 2012 to 2022. In 2013, HCA Holdings employed 215,000 employees, including approximately 53,000 part-time employees. Peers such as Community Health Systems (CYH) and Universal Health Services (UHS) employed 87,000 and 66,100 employees, respectively.
The graph above shows that HCA Holdings (HCA) has about 35,000 affiliated physicians, which is greater than those working with its peers Community Health Systems (CYH) and Tenet Healthcare (THC). HCA Physician Services is a subsidiary of HCA Holdings and is responsible for recruiting physicians and acquiring independent physician practices. It comprises more than 600 locally managed practices that employ approximately 11,500 staff, of which 3,000 are employed in outpatient clinics.
With an increasing focus on emergency care, HCA Holdings merged its Trident Emergency Physicians (or TEP) operations with TeamHealth Holdings in 2014. TeamHealth is one of the largest physician staffing providers in the US.
HCA Holdings also plans a major expansion of its medical residency programs in Florida. In order to attract physicians, HCA also offered to pay stipends during the training period. The company plans to train physicians in fields such as internal medicine, general surgery, obstetrics, and psychiatry.
Managing labor supply
Parallon, a wholly owned subsidiary of HCA Holdings, provides healthcare staffing and managed services to HCA. HCA Holdings uses advanced staffing solutions such as creating a centralized float pool of nurses instead of directly hiring nurses for different facilities. Based on the dynamics of supply and demand, the flexible workforce can provide services in different facilities.
A web-based labor management system tracks the productivity rates and manages scheduling. Parallon also provides training for registered nurses to deal with the shortage of nurses in the US.