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PRACTICE PLUS GROUP HOSPITALS LIMITED

Company number: 03462881

Reporting period:
1 April 2020 to 30 September 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 29 October 2020

and approved by David Stickland

Payment statistics

Average time taken to pay invoices: 53 days

Invoices paid:

• within 30 days: 29%
• in 31 to 60 days: 56%
• in 61 days or more: 15%

Invoices due but not paid within agreed terms: 74 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

45 days

Standard payment terms

Practice Plus Group’s maximum standard payment terms are 45 days from date of invoice and many suppliers are on payment terms of 30 days or less. Payments to self-employed GP’s and Healthcare Professionals standard payment terms are on demand. Practice Plus Group operates a weekly payment run each Friday. Our payment run captures all approved invoices due for payment up to the Friday of that payment week. We are proud to support numerous smaller suppliers and sole traders to whom we commonly offer payment terms of between 0 and 14 days.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

At Practice Plus Group we aim to resolve all queries and disputes regarding invoices and payments as quickly as possible. Disputes are directly managed by the invoice approvers with the support of a dedicated accounts payable team. The team can be contacted by email or phone Monday to Friday. The enquiries email inbox is monitored daily and is subject to a 48 hour SLA. The accounts payable team also carry out regular chasing of unapproved or disputed invoices to assist with both paying invoices in accordance with agreed terms and resolution of disputes.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

Does this business offer e-invoicing in relation to qualifying contracts? This is where suppliers can electronically submit and track invoices. It’s not just allowing suppliers to email them an invoice.

Yes

Does this business offer supply chain finance? This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

No

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No