Care Services Payment Practices: A Slight Improvement in 2022 (75.1/100 vs 73.1/100)

The Comparison

Here's a data-driven comparison of payment practices in the Care Services sector between 2021 and 2022, based on a study of companies' payment performance:

• 2021:

  • Sample size: 143 companies assessed.
  • Average payment performance score: 73.1 out of 100.

• 2022:

  • Sample size: 135 companies assessed.
  • Average payment performance score: 75.1 out of 100.
  • Change in average score: Improved by 2.0 points compared to the previous year.

What This Means

While the Care Services sector demonstrated a move in the right direction, the improvement of just 2.0 points suggests only a marginal shift in payment practices between 2021 and 2022. It's unlikely that this relatively small increase reflects a fundamental change in the financial health or payment culture within the sector, and it may mask wider variations in individual company performance, which can be affected by late invoices. Use our late payment calculator to see how much your business may be owed.

In 2022, Care Services average payment performance was 75.1/100 compared to 73.1/100 in 2021.