The CNO/ROI factor of accreditation
Dawn Chiarenza RN

$7.95
Nursing Management
January 2011 
Volume 42  Number 1
Pages 26 - 31
 
  PDF Version Available!

ABSTRACT
In a time of healthcare reimbursement changes and budget cuts, CNOs seeking Magnet recognition must be able to emphasize benefits to organizational leadership-including return on investment (ROI). The presentation of specific patient, staff, and financial benefits will introduce the foundation in leadership's support for Magnet accreditation.Magnet facilities have proved to emulate the gold standard of nursing practice. As we enter into a notably changing healthcare period, it's more important than ever for facilities to efficiently manage their internal environments. As the Centers for Medicare & Medicaid Services and private healthcare continue to adjust financial reimbursement for services, organizations are evaluating any and all processes that affect the bottom line.So, how does the CNO justify the need to pursue Magnet certification to the CEO, COO, and the Board of Directors during a time of cutbacks? The CNO must be able to present an overview of Magnet recognition and the benefits that are obtained: a higher level of quality care, increased staff satisfaction, increased nurse retention and recruitment, and the overall benefit to the hospital's financial stability.Magnet hospitals emerged in the early 1980s, during the pinnacle of a nursing shortage. In 1982 the American Academy of Nursing identified 165 hospitals that appeared to be unscathed by the nursing shortage. Evaluation of these hospitals noted a higher quality of nursing care, decreased turnover rates, and increased staff satisfaction. Further evaluation identified 41 of these 165 hospitals as being located in areas where neighboring hospitals were facing shortages, but these facilities were attracting nurses; thus, the term "Magnet Hospital" was fashioned.1 In 1982 these 41 hospitals were designated as the first Magnet hospitals, and 11 years later, the American Nurses Association in conjunction with the American Nurses Credentialing Center established guidelines for the Magnet recognition application

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