The Elixir of Life is the purified spiritual energy that flows through the Individual Alchemist. To use it for healing, one simply uses the mind to direct it into the person or part of the body in which healing is needed.
The Elixir of Life is said to flow from the Philosopher’s Stone. Once it is understood that the Philosopher’s Stone is simply a state of being in which Mind, Body, Soul and Spirit are all united into one enlightened state of consciousness, it is easy to understand what this “Elixir” is.