Fort Worth, TX (PRWEB) April 22, 2005
Buxton, a top source of customer analytics, announced the signing of a strategic alliance with The Paquin Group, a leading provider of healthcare retail consulting services.
The Paquin Group has worked extensively with healthcare organizations nationwide in educating executives on opportunities in retail, including the sales of convenience and healthcare products as well as traditional gift shop items. Buxton will provide psychographic data and its proprietary drive-time analysis to clients of the Paquin Group.
This information will allow hospital executives to determine the best course for retail at their facilities.
The healthcare products market is one of the largest product retail niches with total annual sales approaching $350 billion annually. Currently, hospitals and healthcare organizations help patients identify the many healthcare products needed, but generally do not sell them. Many hospitals in the United States have very high volumes of traffic generated by patient admissions, visitors and staff. In many cases, this traffic is comparable to that found at traditional shopping malls.
ÂOur mission is to help our clients convert this high value traffic into financial benefit and improved patient outcomes,Â says Paquin Group CEO Tony Paquin. ÂWe believe hospitals need to apply scientific analysis to determine if they should be in retail, and if so, to decide upon the best retail products for their customers. Buxton brings the necessary data to the process.Â
In the alliance with Paquin, Buxton will perform customer analysis to quantify the need for retail services in each healthcare facility. Buxton will also help determine what products to sell at each facility. "This alliance strengthens our place in the healthcare retail marketplace,Â says Buxton CEO Tom Buxton. ÂOur organizations strongly complement each other. Together, we will provide unsurpassed service to our clients.Â
Paquin and Buxton will cooperate in sales, marketing and healthcare industry initiatives for this venture.
Since 1994, Buxton has been the industry leader in customer analysis for the retail industry. Buxton draws from its database of over 100 million households to identify individual customerÂs lifestyles, behavior patterns and buying habits to accurately advise retail and restaurant chains where to locate new stores. Among its 1,000 clients are Pier 1 Imports, Bass Pro Shops, Hugo Boss, Dave & BusterÂs, Mimi Maternity and The Container Store. Fast Company magazine recently named Tom Buxton, president and CEO of Buxton, to its 2005 Fast 50. Each year, the magazine recognizes 50 remarkable people for their leadership and innovation.
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 companyÂs 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. Paquin helps hospitals identify and implement these new retail revenue strategies.
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