Chicago-based CommonSpirit Health has launched a year-long nurse residency program that will be available in 21 states developed in partnership with Dignity Health Global Education.
Registered nurse turnover can cost hospitals and health systems anywhere from $3.6 million to $6.5 million annually. In light of that, the program aims to boost retention by 20 percent to increase cost savings and reduce hiring and recruitment time spent.
The program was developed with nurse educators to help ease new nurses' transition into full-time practice, according to the April 25 press release.
Kurt Hayes, chief product officer for Dignity Health Global Education which owns the program, said that the program's goal is "to make a significant impact in nurse retention while simultaneously lowering hiring and retention costs for system partners, saving hospitals millions of dollars, which will ultimately result in better patient outcomes."
Organizations that wish to participate in the program created by CommonSpirit and Dignity Health Global Education will have access to support specialists and technologists to aid in implementation, according to the release.