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LogicSource Achieves Prestigious Recognition

LogicSource, a leading entity in procurement services and technology solutions, has achieved notable recognition by being selected as one of Modern Healthcare's Best in Business for 2024. This accolade underscores the firm’s extraordinary efforts in enhancing operational efficiency and driving cost savings for prominent health systems including WellSpan Health, Greater Baltimore Medical Center, and The University of Vermont Health Network.

The Growing Challenge in Healthcare Costs

The American Hospital Association has reported a significant uptick in healthcare expenses, amounting to hundreds of billions of dollars. As hospitals strive to optimize their financial management, the hunt for best practices intensifies. LogicSource is heralded as an innovator in the hospital supply chain arena, helping these institutions navigate the complexities of procurement.

Cleveland Clinic, recognized for its top-tier supply chain management as per Gartner evaluations, recently announced its collaboration with LogicSource to implement cutting-edge procurement strategies. This partnership emphasizes a shared vision of industry advancement and cost efficiency.

The Voice of Leadership

David Pennino, LogicSource's CEO, commented on the award, stating, "This award highlights the positive outcomes we've achieved for our clients and reflects our team's dedication to driving improvement in healthcare procurement. Our mission is to empower healthcare providers to optimize their supply chain so they can focus on what matters most: exceptional patient care."

Modern Healthcare's Best in Business awards spotlight organizations striving for excellence in healthcare and tackling persistent industry challenges. LogicSource's strengths include its expansive non-clinical pricing data, market intelligence, and its innovative OneMarket Source-to-Pay technology. These resources are utilized alongside the expertise of their Center of Excellence to equip healthcare organizations with effective strategies to manage non-clinical spending, thus redirecting essential resources toward critical patient care areas.

Dan Peres, President of Modern Healthcare, expressed his praise for the award recipients. "We are honored to recognize the inaugural recipients of Modern Healthcare's Best in Business Award. Their unwavering commitment to innovation, exceptional outcomes, and delivering real impact in the healthcare industry exemplifies the very essence of excellence. This achievement underscores their dedication to advancing healthcare solutions and setting new standards for quality and efficiency."

A Year of Achievements

The recognition from Modern Healthcare is not LogicSource's only achievement this year. The firm was acknowledged as a Star Performer in the Everest Group PEAK Matrix and has also received accolades from Inc. 5000, Spend Matters, and Financial Times for its rapid growth and successful expansion initiatives.

In summary, LogicSource's selection as one of Modern Healthcare's Best in Business serves as a testament to its influential role in shaping healthcare procurement practices. For more insights into LogicSource's pioneering supply chain solutions, visit www.logicsource.com.

About LogicSource

LogicSource stands out as an industry leader in procurement services and technology, designed to help organizations enhance profitability, manage risks, and ensure supply chain continuity. The company specializes in acquiring indirect goods and services, which often account for a substantial portion of an organization’s revenue and are frequently associated with inefficiencies in spending. Through a blend of extensive sourcing expertise, superior market intelligence, and the transformative OneMarket® Source-to-Pay technology, LogicSource delivers tailored solutions that yield immediate savings and long-term value.

About Modern Healthcare

Modern Healthcare is a trusted source of business news and information within the healthcare industry, empowering leaders to make well-informed decisions. To learn more about their resources, visit www.modernhealthcare.com/subscriptions.