Care Services Payment Practices See Marginal Improvement: Average Score Rises From 71.3 to 73.1

The Comparison

Here's a side-by-side look at payment practices in the Care Services sector for 2020 and 2021, based on our data:

• Number of Companies Analysed: 2020 saw data collected from 141 companies, while 2021 included 143.
• Average Payment Practice Score: In 2020, the average score was 71.3 out of 100, representing the overall effectiveness of payment practices.
• Average Payment Practice Score: For 2021, the average score climbed to 73.1 out of 100.
• Overall Change: The sector experienced an improvement of 1.8 points between the two years.

What This Means

While the number of companies assessed remained broadly consistent, the sector demonstrated only a slight overall improvement in payment practices between 2020 and 2021, with the average score increasing marginally. This suggests existing processes are largely unchanged, or initiatives introduced are not yet yielding significant results across the board, despite the pressures put on payment practices during this period. Businesses struggling with late payments can use this late payment calculator to better understand their cashflow implications.

In 2021, Care Services payment practices scored 73.1, up from 71.3 in 2020.