Internship Program Receives Return on Investment From Nurse Professional Development Efforts.

Area of Science:

• Healthcare Economics
• Nursing Education
• Health Services Management

Background:

• The current economic climate requires nursing professional development programs with a positive fiscal impact.
• Attracting and retaining nursing talent is a persistent challenge in healthcare organizations.
• The transition from student nurse to registered nurse requires targeted support and development.

Purpose of the Study:

• To evaluate the cost-effectiveness of a patient care internship program.
• To assess the program's success in attracting and retaining nursing talent.
• To determine the financial benefits of the internship program for a Midwest hospital system.

Main Methods:

• A patient care internship program was implemented, involving collaboration between nurse leaders and nursing faculty.
• Student nurses were recruited and prepared for the registered nurse role through the program.
• The program's financial impact was analyzed over a 2-year period.

Main Results:

• The internship program resulted in significant cost savings for the hospital system.
• Total cost savings exceeded $200,000 over the 2-year evaluation period.
• The program demonstrated effectiveness in talent acquisition and retention.

Conclusions:

• The patient care internship program is a cost-effective strategy for nursing talent management.
• Investing in nursing professional development can yield substantial financial returns.
• Collaborative efforts between healthcare organizations and academic institutions enhance nursing workforce development.