Versant Advantage Announces Significant Third Quarter Customer Momentum.

LOS ANGELES -- Versant Advantage Expands its Reach to Help Hospitals in Nearly All Regions of the U.S. Address the Nursing Crisis through Outcome-Based Education, Recruitment and Retention of New RNs

Versant Advantage, Inc., a non-profit public benefit corporation established by Children's Hospital Los Angeles and developer of the Versant RN Residency, today announced positive third quarter momentum with the addition of four new client hospitals. St. Elizabeth's Hospital in Belleville, Ill., Cape Fear Valley Medical Center in Fayetteville, N.C., All Children's Hospital in St. Petersburg, Fla. and CHA Hollywood Presbyterian Medical Center in Los Angeles, Calif. join the growing roster of hospitals throughout the U.S. that are currently using Versant's integrated, evidence-based approach to strategically stabilizing their RN workforce.

Faced with the daunting task of navigating the most acute nursing shortage in the past 50 years(1), hospital administrators are increasingly seeking innovative solutions that will optimize their efforts to recruit and retain competent and confident new nurse hires. New research confirms that hospitals are looking more toward a long-term strategy, such as the Versant RN Residency, to address the staffing crisis. In fact, according to a recent survey by the Center for Studying Health System Change(2), U.S. hospitals are putting a greater priority on nurse training to fill their nursing needs. The 2005 survey of 32 hospitals in 12 U.S. markets found that nurse training was among the most frequently cited long-term strategies to curb the nation's nursing shortage crisis.

To date, more than 20 hospitals from seven states have turned to Versant for their expertise in implementing comprehensive residency solutions that include interactive classroom seminars, clinical and Web-based learning activities and mentoring programs that are designed to address participating organizations' specific staffing and technological needs. Versant's comprehensive 18-week and 22-week residency programs are providing client hospitals with requisite tools to successfully transition new graduate nurses from the novice student role to safe and confident professional clinician.

"Because the program was designed by nurses, Versant understands the importance of offering a comprehensive training tool that educates new RNs and also provides hospitals with results that create a healthier and more efficient organization," said Charles Krozek, RN, MN, president and managing director of Versant Advantage, Inc. "Versant is thrilled to expand its unique program into four new hospitals across the country as we welcome the chance to continue building on our proven success in improving retention, recruitment and the quality of patient care."

New customer wins include:

St. Elizabeth's Hospital in Belleville, Ill. As one of many hospitals in the metropolitan St. Louis area, maintaining a stable workforce is vital for this health care provider. Nursing executives from St. Elizabeth's were eager to explore new approaches for recruiting and retaining qualified RN candidates. Versant's research clearly demonstrates a significant reduction in RN turnover, supporting St. Elizabeth's decision to choose the program. Also key to selecting Versant was the program's focus on establishing partnerships with hospital personnel who support the residents as they transition into the workforce.

"We feel the best way to handle the challenges of hiring new RNs is to adopt a clear plan for ensuring new grads have an atmosphere that offers the resources they need to thrive," said Jane M. Read, RN, MSN, assistant administrator and CNO of patient care services at St. Elizabeth's Hospital. "Unlike a home-grown approach, Versant's RN Residency is an evidence-based program that has proven results for improving retention and successfully acclimating new RNs to the hospital setting. With the addition of this program, St. Elizabeth's is not only able to provide a better learning environment, but is ensuring we are leading the way with an innovative approach that can sustain itself over time."

Cape Fear Valley Medical Center in Fayetteville, N.C. As an organization located in a military town, Cape Fear Valley deals with its fair share of RN turnover; at the same time, the hospital is enhancing its nurse-to-patient ratio and felt it needed a strategy for better-preparing and retaining new RNs. Hospital administrators were attracted to the mentor/preceptor component of the Versant RN residency as Cape Fear Valley recognizes the importance of supporting new nurse hires emotionally as well as professionally. In addition, the hospital adopted Versant's evidence-based program to aid in their pursuit of Magnet Status, an award given by the American Nurses' Credentialing Center (ANCC) to hospitals that satisfy a set of criteria that measure the strength and quality of their nursing.

"We immediately recognized the value of implementing Versant's RN Residency, as we know the most effective way to address the staffing issue is to provide thorough, enhanced training and improved mentoring of new graduates," said Carol Danielson, RN, MHA, CHE, vice president and CNO of Cape Fear Valley Medical Center. "By using this program, we feel better-equipped to recruit RNs, and feel we are well on our way to a having a more successful environment for new nurses, which will enable us to continue providing the best possible care for our patients."

All Children's Hospital in St. Petersburg, Fla. As one of two freestanding children's hospitals in the state of Florida, All Children's chose to implement Versant's RN Residency for its evidence-based curriculum as well as superior technological advances. Striving to be at the forefront of RN retention strategies, All Children's plans to leverage Versant's Web-facilitated interactive classes and skill labs in order to foster a dynamic learning environment for new nurse hires.

"Versant's RN Residency provides structure and foundation to prepare our new graduates for success," said Sharon M. Kimball, RN, MS, MBA, vice president for patient care services and CNO of All Children's Hospital. "In our pursuit of clinical excellence within the framework of a healthy work environment, the Versant RN Residency is a compelling method that we feel will stand the test of time in creating a better learning environment for new nurses."

CHA Hollywood Presbyterian Medical Center in Los Angeles, Calif. Los Angeles boasts one of the most aggressive RN recruiting markets in the country, and as such, CHA Hollywood Presbyterian Medical Center chose Versant's RN Residency program to enhance its recruiting capabilities and to ensure better retention rates by providing more training. CHA HPMC feels the program will help produce quality nurses and thus, quality care for its patients.

"We feel it is extremely important to prepare our nurses for their future," said Judith Maass, CNO at CHA Hollywood Presbyterian Medical Center. "Through enhanced learning and mentoring of our nurse leaders, the Versant RN Residency will better prepare our organization for success. Additionally, as a hospital in a very competitive market, the program will foster an environment that helps us recruit and retain nurses."

About the Versant RN Residency

The Versant RN Residency is a comprehensive, evidence-based, outcome-driven program that transitions new graduate nurses from the novice student role to competent and confident professional clinician. Versant residents are supported by a network of senior nurses who act as preceptors, mentors and debriefers. Residents are enriched by interactive classes and skills labs that complement their simultaneous clinical experiences. Versant Voyager(TM) is the Web-based application that executes Versant's suite of workforce development applications to track and monitor professional growth. More than 1800 newly graduated registered nursing students from over 20 hospitals nationwide have completed the Versant RN Residency.

About Versant Advantage, Inc.

Established by Children's Hospital Los Angeles, Versant Advantage, Inc. is a non-profit public benefit corporation developed in response to the severe national shortage of experienced nurses. Designed by nurses for nurses, Versant is a leading provider of integrated, evidence-based and Web-facilitated programs that assist hospitals and healthcare organizations with strategically stabilizing their RN workforce while optimizing financial performance. Versant's clients include leading healthcare institutions, such as, John Muir Medical Center, Lucile Packard Children's Hospital and Northridge Hospital Medical Center. For more information, visit www.versant.org.

About Cape Fear Valley Medical Center

The cornerstone of Cape Fear Valley was laid in 1954, and the first hospital opened in 1956 as a 200-bed county hospital. Today, the health system is a robust 620-bed system located in the growing metropolitan city of Fayetteville, N.C. Cape Fear Valley Medical Center, its flagship hospital, specializes in heart care, cancer treatment and surgical services. The hospital has a full-service Family Birth Center as well as a Level-III Neonatal Intensive Care Unit (NICU) to care for the tiniest members of the community. A half-century after its opening day, Cape Fear Valley is the healthcare provider of choice for thousands of families in the Cape Fear region. For more information, visit http://www.capefearvalley.com/facilities/cfvmc.htm.

About St. Elizabeth's Hospital

Founded in 1875, St. Elizabeth's Hospital is a 506-bed acute care medical facility, which maintains a Gold Seal of approval from the Joint Commission on Accreditation of Healthcare Facilities (JCAHO), is certified by the Society of Chest Pain Centers and the Commission on Accreditation of Rehabilitation Facilities (CARF), is accredited by the Inter-Societal Commission for the Accreditation of Vascular Labs, Committee on Laboratory Accreditations, and the American Academy of Sleep Medicine. Located in Belleville IL, St. Elizabeth's Hospital is a member of the Hospital Sisters Health System. The mission of St. Elizabeth's Hospital is to minister to those in need of healthcare in response to God's call to serve each other. In the performance of its mission, St. Elizabeth's Hospital fosters the values of Respect, Care, Competence, and Joy. For more information, visit http://www.steliz.org/.

About All Children's Hospital

All Children's Hospital is the only freestanding children's hospital on Florida's West Coast. It has consistently ranked among America's top 25 children's hospitals in comparative studies done by Child Magazine. The mission of this private, not-for-profit hospital is rooted in its beginnings as Florida's first Crippled Children's Hospital for polio victims. All Children's understands that it's not enough to treat disease -- that true progress comes from teaching and research to cure disease. All Children's shares its pediatric expertise through research & education affiliations with the University of South Florida (USF Health) as well as the H. Lee Moffitt Cancer Center & Research Institute. For more information, visit http://www.allkids.org/.

About CHA Hollywood Presbyterian Medical Center

CHA Hollywood Presbyterian Medical Center is a 434-bed acute-care facility that has been caring for the Hollywood community and surrounding areas since 1924. The hospital is committed to serving local multicultural communities with expert medical and nursing care. With over 500 physicians representing virtually every specialty, CHA Hollywood Presbyterian Medical Center is ready to serve the community's medical needs and strives to distinguish itself as a leading healthcare provider. The hospital is recognized for providing quality, innovative care in a compassionate manner. CHA Hollywood Presbyterian Medical Center was acquired by CHA Health Systems in 2005. CHA Health Systems owns and operates four acute care hospitals with approximately 2,000 beds, two specialty clinics for Oriental medicine, a medical university and a cell and gene therapy institute, all in Korea, as well as two infertility medical centers in the US and Korea, including the CHA Fertility Center in Los Angeles. For more information, visit http://www.hollywoodpresbyterian.com/.

(1)Peter I. Buerhaus, Douglas O. Staiger and David I. Auerbach Is the Current Shortage of Hospital Nurses Ending?The Journal of Health Affairs. 22, no. 6 (2003): 191-198

(2)Jessica H. May, Gloria J. Bazzoli and Anneliese M. Gerland Hospitals' Responses to Nurse Staffing Shortages Center for Studying Health System Change, June 26, 2006