Panacea Healthcare Solutions Announces New Spend Management & Cost Reduction Service

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Strategic alliance with Source One will focus on helping healthcare providers reduce spending and optimize strategic sourcing strategies in non-salary operations

Panacea Healthcare Solutions, Inc., a company specializing in Healthcare Coding, Compliance, Reimbursement and Financial Systems and Services, today announced that it has teamed up with Source One Management Services, LLC to introduce a proven spend management solution to its provider clients. For the averaged size hospital the solution can reduce annual expenses by millions of dollars and in most cases clients will not need to change suppliers.

Frederick Stodolak, CEO at Panacea Healthcare Solutions stated, “We are proud that with Source One we have expanded beyond revenue improvement to assist our clients as they struggle to reduce costs in response to healthcare reform. Source One has uncovered material cost savings in a variety of industries and has now brought their proven expertise to healthcare. We chose to partner with Source One because of their strong track record dating back to 1992. Their professionalism, experience and recent success helping two hospitals reduce their expenditures by millions of dollars, and their status as the recipient of the Supply and Demand Chain Executive 100 award for five consecutive years by Supply and Demand Chain Magazine all contributed to our decision to work exclusively with them. We are so confident in our ability to identify real cost savings for our clients that we will be offering the service on a no-risk basis.”

“We are excited to work with Panacea to introduce our proven spend management services to their clients,” said Steven Belli, Chief Executive Officer at Source One. “Panacea and their MedLearn Division have a stellar reputation in the industry and we are honored to be part of their team.”

Hospitals can register at http://www.hospitalcostreduction.com for more information and to find out how to get started.

ABOUT PANACEA HEALTHCARE SOLUTIONS

Panacea Healthcare Solutions, Inc., (http://www.panaceahealthsolutions.com) with offices in Minnesota, Florida, Arizona and New Jersey, provides expert coding, compliance, and financial advice, publications, seminars and information technology to improve bottom line performance to healthcare providers, and other clients. Panacea’s areas of expertise included Coding, Compliance, Finance and Reimbursement and Revenue Cycle Consulting and Systems. Through its MedLearn (http://www.medlearn.com ) Division, founded in 1991, the Company is the nation's most respected authority on medical coding, compliance and reimbursement.

ABOUT SOURCE ONE

Source One Management Services, LLC (http://www.sourceoneinc.com), based in Willow Grove, PA, is one of the nation’s leading strategic sourcing and procurement providers, offering customized strategic sourcing, cost reduction and spend management solutions to help companies realize competitive and sustainable savings since 1992. Its team of experienced sourcing professionals works closely with clients’ in-house staff to reduce spend, optimize existing budgets and increase the efficiency of operations by using proven sourcing and purchasing strategies, best practices, innovative technology, and an extensive proprietary database of market intelligence to help clients achieve the maximum level of savings possible.

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Frederick Stodolak
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