In the news: How one MRP program demonstrated ROI
HCPro's Weekly Update on the ANCC Magnet Recognition Program®*, March 22, 2010
The Hospital of the University of Pennsylvania (HUP) received ANCC Magnet Recognition Program ® (MRP) status in 2007. And although the initial benefits—accolades and recognition for quality—were apparent immediately, the organization soon saw other ancillary returns on investment as well, the Healthcare Financial Management Association (HFMA) reports.
According to the HFMA, the 1,400-nurse hospital soon saw a variety of additional benefits beyond adding a prestigious logo to its moniker. These included improvements in:
- nurse vacancy rates
- patient satisfaction ratings
- an empowered nursing voice for clinical decision making and evidence-based practice
In fact, the organization was able to use money saved through a low turnover rate to improve staffing ratios on medical-surgical units and intermediate units.
Source: www.hfma.org
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