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The Business Case for Magnet®

Drenkard, Karen PhD, RN, NEA-BC, FAAN

Journal of Nursing Administration: June 2010 - Volume 40 - Issue 6 - pp 263-271
doi: 10.1097/NNA.0b013e3181df0fd6
Articles

The author describes the role of the chief nurse executive in delivering a business case for the Journey to Magnet Excellence™. Calculating a return on investment provides clear measurement of benefits of the credential and can be used to evaluate upfront resources that result in a longer-term gain. The range of cost savings that can possibly be achieved for a typical 500-bed hospital is presented. Although not every hospital will achieve the level of performance implied by the national assumptions, securing only a modicum of the potential level of cost improvement will ensure a multifold return on the investment required.

Author Affiliation: Director, Magnet Recognition Program®/Senior Director, Credentialing Operations, American Nurses Credentialing Center, Silver Spring, Maryland.

Correspondence: 8515 Georgia Ave, Silver Spring, MD 20910 (Karen.drenkard@ana.org).

© 2010 Lippincott Williams & Wilkins, Inc.