1.Attract & Retain Top Talent:
A growing body of research indicates that Magnet hospitals
enjoy:
- Increased RN retention and lower nurse burnout
- Decreased RN vacancy rate and RN turnover rate
- Increased RN satisfaction.
2.Improve Patient Care, Safety & Satisfaction.
Studies assessing links between the work environment for nurses
and the patient safety climate find Magnet hospitals
experience:
- Increased patient satisfaction
- Decreased mortality rates
- Decreased pressure ulcers
- Decreased falls
- Patient safety and improved quality
3.Foster a Collaborative Culture
Magnet provides a multiyear framework for quality improvement
and a structured means to engage staff in decision-making. This
serves as a helpful tool for new CNEs or those looking to energize
and motivate their teams. Team building, collaborating across
disciplines and building staff engagement while difficult to
quantify, are often results of the Magnet process.
4.Advance Nursing Standards & Practice
Magnet provides a road map for excellence in nursing and can
serve as a framework for organization a hospital nursing delivery
system that elevates performance all around.
- Improved efficient and effectiveness at unit levels
- Decreased mortality rates
- Decreased pressure ulcers
- Decreased falls
- Patient safety and improved qualityGrow
4.Business & Financial Success:
Magnet contributes to a facility's business stability and growth
in multiple ways, including:
- Reduction in RN agency rates
Decreased agency utilization was calculated in the millions of
dollars for a typical 300-bed hospital.
- Decreased RN vacancy rate and RN turnover rate
- Reduction in staff needlestick rates
Multiple studies report up to a one-third reduction in needlestick
injuries in Magnet facilities at a cost of $405 per event.
- Reduction in staff musculoskeletal and other injuries
Magnet organizations continually report positive financial impacts
including:
- Increased press and media coverage focused on quality nursing
care (up by 600% in one organization), reducing marketing
expense.
- Recognition by potential collaborator of the value of Magnet
designation, increasing the likelihood and success of any
partnership.
- Enhanced ability to establish endowments. In one case, the
family noted the historical contributions of nursing to the
hospital mission and achievement of Magnet designation by nurses
and the resulting high standards of practice.
- Stronger bond rating due, in part, to the quality of the
nursing department and Magnet recognition
- Gained and maintained competitive advantage in regional
markets.