Achieving Magnet recognition is the gold standard of a nursing program, demonstrating that an organization’s nursing leaders have established nursing excellence to improve outcomes for patients. And now the results of a new study published in Harvard Business Review show that excellent nurses are positively linked to physicians’ performance as well.
The researchers looked at Magnet status as an indicator of superior nursing and associated it with hospital scores on the national Hospital Consumer Assessment of Healthcare Providers and Systems and Press Ganey patient satisfaction survey scores. They found that patients were more likely to recommend Magnet hospitals than ones with Magnet designation (75.7 versus 70.8, respectively) and gave them a similarly higher overall rating (76.0 versus 72.8, respectively). Magnet hospitals also ranked higher on “time physician spent with you” (84.6 versus 83.6) and “skill of the physician” (93.2 versus 92.1).
About 10% of hospitals have achieved Magnet recognition, but those that do report higher nurse satisfaction and retention, improved safety, lower mortality, better patient experience rates, and higher revenues. It comes at a cost: most hospitals spend $500,000 per year for the three to five years it typically takes to reach the designation, although they usually see an equal return within a few years.
For more information about ONS resources to support working toward Magnet designation, listen to episode 51 of the Oncology Nursing Podcast.