Energy Procurement

energy is a financial market
the key to savings is best practices

Photo by violetkaipa/iStock / Getty Images

Today, market deregulation, advances in energy technology and a new emphasis on sustainability are requiring hospitals to make complex procurement decisions in what has become America’s most volatile market. To keep pace, hospitals need to adopt new methods for sourcing energy supply.

Hospital Energy has drafted new best practices in energy procurement that are driving 10+% savings compared to traditional methods for hospitals nationwide. The key concept underlying the new standards is that energy is a financial market and the key to savings is financial analytics. The best practices are implemented by following three essential principles:

 Analytics: The key to energy savings is to employ statistical analysis to inform energy strategy, forecast market trends and ensure an optimal balance of savings opportunity and budget stability. These tools apply whether procuring energy supply from the market or on-site power generation. Learn More

 Alignment:  Hospitals should engage finance and contracting teams to support facility directors in making market decisions. Learn More

 Aggregation: Working within an aggregated group of hospitals brings greater market leverage to drive down supplier margins and obtain access to the best products and contract terms. Learn More

 Hospital Energy delivers leading-edge analytics, extensive experience in alignment and the nation’s largest healthcare energy aggregation to drive 10+% savings for our hospital clients. Whether procuring electricity, natural gas, renewables or on-site cogeneration, Hospital Energy is the energy source for American healthcare. 

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