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PRACTICE PLUS GROUP HOSPITALS LIMITED

Company number: 03462881

Reporting period:
1 April 2023 to 30 September 2023

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

This report was filed on 2 November 2023

and approved by Colman Moher

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 48%
• in 31 to 60 days: 45%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 55 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

45 days from date of invoice
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 GPs and Healthcare Professionals standard payment terms are within 14 days of the end of the period. Most supplier payments are made via a monthly payment run on the last Friday of each month, although there is a weekly run for selected suppliers and self-employed GPs and healthcare professionals. Our payment run captures all approved invoices due for payment up to the Tuesday of the subsequent 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