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The business case for Magnet
1Magnet Recognition Program, American Nurses Credentialing Center, Silver Spring, Maryland 20910, USA. Karen.drenkard@ana.org
Abstract:
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.
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