The Business Case for Magnet®
- 1 June 2010
- journal article
- research article
- Published by Ovid Technologies (Wolters Kluwer Health) in JONA: The Journal of Nursing Administration
- Vol. 40 (6), 263-271
- https://doi.org/10.1097/nna.0b013e3181df0fd6
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.Keywords
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