Source One teams with Panacea Healthcare Solutions to help healthcare organizations cut costs and manage spend

on Monday, April 25, 2011


Source One Management Services, LLC, a leading provider of strategic sourcing, procurement and cost reduction solutions, has announced a new strategic partnership with Panacea Healthcare Solutions, Inc., one of the nation’s preeminent companies specializing in Healthcare Coding, Compliance, Reimbursement and Financial Systems and Services.

“We are very excited at the opportunities this new joint effort represents,” said Steven Belli, CEO at Source One. “Panacea and its MedLearn Division have an unsurpassed reputation as the nation’s leading authority on medical coding, compliance and reimbursement. We think the combined offering of Source One’s spend management and strategic sourcing services with Panacea’s healthcare technology and financial consulting expertise will provide an important advantage to healthcare organizations looking for innovative ways of dealing with today’s myriad economic challenges.”

“By joining forces with Source One, we are adding an important new dimension to our core revenue management-focused approach to assisting as clients they struggle to reduce costs in response to healthcare reform,” said Frederick Stodolak, CEO at Panacea Healthcare Solutions. “The fact is, the average-sized hospital can most likely reduce its annual expenses by millions of dollars by implementing Source One’s spend management and sourcing solutions -- and in most cases clients will not need to change suppliers.”

“Since 1992, Source One has been a recognized leader in helping companies across a range of industries reduce their non-salary related spending,” Stodolak noted. “Their demonstrated professionalism, experience and successful track record in helping several major hospitals reduce their expenditures by millions of dollars were key factors in our decision to undertake this joint venture. 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.”

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

ABOUT SOURCE ONE

Source One Management Services, LLC (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.

ABOUT PANACEA

Panacea Healthcare Solutions, Inc. (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 (www.medlearn.com ) Division, founded in 1991, the Company is the nation's most respected authority on medical coding, compliance and reimbursement.

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