Industry study estimates cost of hospital nurse turnover

The average cost of turnover for a bedside RN is $40,038 and ranges from $28,400 to $51,700, according to a recent study by NSI Nursing Solutions. The researchers looked at 2020 data from 226 facilities employing 144,300 registered nurses (RNs). Turnover rates were highest in hospitals located in the Southeast and in hospitals with 200 to 349 beds. Hospitals in the Northeast and those with 500 or more beds had the lowest turnover. The top three reasons for nurses leaving their jobs were relocation, career advancement and retirement. (Becker’s Hospital CFO Report article, 10/14/21)