Healthcare And Wellbeing Payment Trends: 2022 vs 2023
Healthcare & Wellbeing Payment Performance: Slight Improvement of 0.9 Points in 2023
The Comparison
- 2022: Analysis covered 64 companies within the Healthcare & Wellbeing sector.
- 2022: Payment practices averaged a score of 64.6 out of 100.
- 2023: Analysis expanded slightly to include 65 companies.
- 2023: The average payment performance score edged up to 65.5 out of 100.
What This Means
While the sector did improve its overall payment performance score year-on-year, the increase of 0.9 points is marginal, suggesting underlying issues around payment terms and processes persist. The small sample size increase, from 64 to 65 companies, rules out increased competition as a key driver of improvement. Further analysis is needed to ascertain why the sector continues to struggle with payment efficiency - are customers taking too long to pay? Find out what late payments could be costing your business with our late payment calculator.
Overall, the Healthcare & Wellbeing sector improved its average payment score from 64.6 (out of 100) in 2022 to 65.5 in 2023.
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