The Magnet application process consists of four phases: application, documentation, appraisal and review.

• Application: The initial application fee is $1,000. Once an organization submits an application, it has up to two years to complete the process.
• Documentation: The applicant must provide documentation showing how it meets core criteria and Magnet criteria. The documentation and appraisal fee depends on the size of the organization. The fee ranges from $9,000 to $45,000 or more for acute care facilities, and from $3,700 to $10,000 for long-term care facilities.
• Appraisal and site visit: When appraisers are appointed, the applicant pays a $500 honorarium per appraiser. Appraisers will examine the documentation to see if it meets core criteria. If it does not meet the criteria, the applicant is asked to send more information. If it still does not meet the criteria, the application is terminated. If the core criteria are met, appraisers then score the documentation on how well it meets Magnet criteria.
  If the score falls within a determined range, a date for a site visit is set. The applicant pays $1,500 per day per appraiser for the site visit. The number of appraisers and the time they spend at the organization depend on the size and complexity of the facility. The applicant also pays travel and lodging expenses for the appraisers.
• Review and notification: The appraisers submit a final report and recommendations to the American Nurses Credentialing Center . The Commission on Magnet Recognition reviews the findings and decides whether to award Magnet status. The process takes about eight weeks, and the applicant is notified immediately of the commission’s decision.

Source: NurseWeek.com