Speakers at the Conference included Al Stubblefield, CEO of Baptist Health Care, Jamie Orlikoff, President of Orlikoff and Associates, Harvey Hartman of The Hartman Group, and Tony Paquin of The Paquin Group, among many others.
“These speakers are the absolute thought leaders in America when it comes to understanding the healthcare industry and how it is affected by changing consumer movements,” Paquin said.
Healthcare retail is a business model rapidly being adopted by hospitals and healthcare systems that want to diversify from low margin, highly regulated, reimbursed revenue sources. Proponents of healthcare retail focus on the healthcare needs of consumers that go beyond traditional boundaries and includes retail products and services, for both healthy and unhealthy consumers. Hospitals that promote a more comprehensive, consumer focused approach also report higher utilizaiton of their core, acute care services.
Sessions during the two day conference featured ways to generate non-reimbursable revenues through healthcare retail stores, eCommerce, direct marketing, and medical spas.
“There is a change in consumer sentiment that is leading people to find new ways to enhance their health and overall wellness; and this consumer movement is creating opportunities for hospitals,” Paquin added.
According to Hartman, aging baby boomers and consumer self-diagnosis has generated a higher demand for healthcare products and services beacuse, “people are seeking a higher quality of life for a longer period of time.” The Hartman Group is one of the nation’s premier marketing firms specializing in consumer wellness movements.
A key part of a successful healthcare retail strategy is the collaboration of clincal and retail staff. “Retail staff has to make a specific effort to help clinicians understand that patients’ benefit from a more comprehensive and retail approach to patient care,” explained Gary Paquin, Vice President of The Paquin Group. “Consulting with clinical staff on the reasons for retail should emphasize patient preferences and improved outcomes,” he added.
Orlikoff, a leading healthcare industry consultant, caught the audience’s attention with a dramatic exposé of the financial condition of the healthcare industry in the United States and the subsequent need for alternate sources of revenue.
Conference attendees also participated in highly focused sessions that featured presentations on eCommerce, direct marketing, merchandising, financial planning and other tactics of successful retail practiced at healthcare systems.
About The Paquin Group
The
Paquin Group is an alliance of industry leading experts and resources created
to assist hospitals in the implementation of healthcare retail strategies.
The company’s core mission is to increase revenue opportunities and minimize
risks for healthcare organizations. As Medicare reimbursement rates continue
to be pressured downward and expenses rise, new sources for non-reimbursed
revenues are becoming essential to the financial viability of hospitals. The
Paquin Group helps hospitals identify and implement these new retail revenue
strategies.
About Paquin Healthcare Companies, Inc.
Paquin Healthcare Companies, Inc., through its subsidiary operations, is pioneering the development of distribution channels for healthcare-based retail products and services. Working in partnership with major hospitals and other professional healthcare organizations nationwide, Paquin Healthcare is the nation's leading provider of integrated, customized solutions for the implementation of healthcare retail strategies. As Medicare reimbursement rates continue to tighten while healthcare expenses rise, new sources for non-reimbursed revenues are becoming essential to the financial viability of hospitals. Paquin Healthcare also organizes the industry's premier annual meeting event for healthcare retail initiatives, The Healthcare Retail Conference.
For more information, visit http://www.paquinhealthcare.com
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The Definitive Book on Consumer Issues in Healthcare by Tony Paquin.
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Paquin Healthcare Companies earned the position of #291 on the 2009 Inc. 500, the
fastest-growing private Companies in America.
Paquin Healthcare
was named winner of the 2009 eHealthcare Leadership Awards.