Healthcare And Wellbeing Payment Trends: 2021 vs 2022
Healthcare and Wellbeing Payment Performance: Barely a Tick Upward in 2022
While the Healthcare and Wellbeing sector saw a marginal improvement in payment practices between 2021 and 2022, the increase was minimal, rising from an average score of 63.7 to 64.6 out of 100. This represents a less than one-point uptick, indicating general stagnation in payment efficiency within the sector.
The Comparison
- 2021: 69 companies assessed demonstrated an average payment performance score of 63.7 out of a possible 100.
- 2022: 64 companies assessed showed a slight increase in average payment performance, reaching a score of 64.6 out of 100.
- Change: The overall sector average improved by a mere 0.8 points between the two years.
- Company Count: 5 fewer companies were evaluated in 2022 compared to the prior year.
- Sector Focus: The data indicates the payment practices represent both Healthcare and Wellbeing industries and not just one.
What This Means
The almost negligible 0.8-point improvement between 2021 and 2022 suggests that, despite any targeted efforts or market shifts, overall payment discipline within the Healthcare and Wellbeing sector remains virtually unchanged. With such a small increase, suppliers may still face significant challenges related to cashflow and working capital management, potentially requiring them to utilize resources like a late payment calculator to recoup losses. The difference of 5 companies surveyed between the years, does not account for or outweigh the negligible change in performance.
In 2022 the average payment performance score of companies in the Healthcare and Wellbeing was only 64.6 out of 100, up from 63.7 in 2021.
