home |
webinars |
blog |
leadership |
clients |
strategic partners |
portfolio |
careers |
contact us |
embrace 2.0
A new source of revenue for hospitals, clinics - The Business Journal of Milwaukee
November 30, 2007 -- A new source of revenue for hospitals, clinics - The Business Journal of Milwaukee
Gift shops selling more than flowers
Hospitals and medical clinics, faced with tighter reimbursement from insurers, are looking for new ways to make money, and retail is one of them.
"Retail medicine" is a term for any health care related product or service that is not covered by insurance, from aromatherapy oils to acupuncture and massage. Hospitals and medical clinics in the Milwaukee area and throughout the country are expanding their offerings to include a variety of products, from wigs and scarves for cancer patients to specialty cosmetics.
The trend is a way for hospitals to increase revenue from sources other than insurance and government health plans and to expand care outside the hospital, said Gary Paquin, executive vice president of The Paquin Group, a health care retail consultant firm based in Celebration, Fla.
"Reimbursements are all going down so much that doctors and clinics and hospitals are having to find a new way to make money," said Paquin, who has been hired by Columbia St. Mary's Inc. to propose a retail medicine strategy for the Milwaukee health system in 2008.
About Paquin Healthcare
Paquin Healthcare, the nation’s leading specialist in healthcare-based retail, is an alliance of industry leading experts and resources created to assist hospitals in the identification and implementation of healthcare retail and online commerce 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.
For more information, visit http://www.paquinhealthcare.com
Back to Press Releases >>
Hospitals and medical clinics, faced with tighter reimbursement from insurers, are looking for new ways to make money, and retail is one of them.
"Retail medicine" is a term for any health care related product or service that is not covered by insurance, from aromatherapy oils to acupuncture and massage. Hospitals and medical clinics in the Milwaukee area and throughout the country are expanding their offerings to include a variety of products, from wigs and scarves for cancer patients to specialty cosmetics.
The trend is a way for hospitals to increase revenue from sources other than insurance and government health plans and to expand care outside the hospital, said Gary Paquin, executive vice president of The Paquin Group, a health care retail consultant firm based in Celebration, Fla.
"Reimbursements are all going down so much that doctors and clinics and hospitals are having to find a new way to make money," said Paquin, who has been hired by Columbia St. Mary's Inc. to propose a retail medicine strategy for the Milwaukee health system in 2008.
About Paquin Healthcare
Paquin Healthcare, the nation’s leading specialist in healthcare-based retail, is an alliance of industry leading experts and resources created to assist hospitals in the identification and implementation of healthcare retail and online commerce 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.
For more information, visit http://www.paquinhealthcare.com
Back to Press Releases >>
ARCHIVES
The Retail Healthcare Revolution
The Definitive Book on Consumer Issues in Healthcare by Tony Paquin.
Now available on Amazon.com
The Definitive Book on Consumer Issues in Healthcare by Tony Paquin.
Now available on Amazon.com
Ranked #291
Paquin Healthcare Companies earned the position of #291 on the 2009 Inc. 500, the
fastest-growing private Companies in America.
Paquin Healthcare Companies earned the position of #291 on the 2009 Inc. 500, the
fastest-growing private Companies in America.
2009 Winner
Paquin Healthcare
was named winner of the 2009 eHealthcare Leadership Awards.
Paquin Healthcare
was named winner of the 2009 eHealthcare Leadership Awards.