Industry ranking
Score of 84.3/100 qualifies for PaymentCheck Certification
The average time taken for THE DOCTORS LABORATORY LIMITED to pay invoices has increased steadily over the past three periods, from 12 days in 2017-2018 to 19 days in 2019-2020. However, there was a slight improvement in the most recent period, with the average time decreasing to 16 days in 2020-2021.
The volatility of THE DOCTORS LABORATORY LIMITED's payment practices has remained relatively stable over the past three periods, with only small changes in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days.
Based on the data provided, the average time taken for THE DOCTORS LABORATORY LIMITED to pay invoices has increased by 4 days over the past three periods. The percentage of invoices paid within 30 days has remained consistently high at 83-95%, while the percentage of invoices paid later than 60 days has fluctuated between 1-7%. The shortest standard payment period has remained at 14 days throughout all periods.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 06 Feb 2024 | 48 | 65% | 23% | 13% | 0% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Sept 2023 | 13 | 93% | 6% | 1% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 01 Sept 2023 | 17 | 82% | 15% | 2% | 0% |
| 01 Jan 2022 - 30 Jun 2022 | 01 Sept 2023 | 20 | 82% | 14% | 4% | 0% |
| 01 Jan 2021 - 31 Dec 2021 | 01 Sept 2023 | 16 | 86% | 13% | 1% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 01 Sept 2023 | 16 | 83% | 15% | 2% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 01 Sept 2023 | 17 | 83% | 15% | 1% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 01 Sept 2023 | 20 | 83% | 9% | 7% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 01 Sept 2023 | 19 | 88% | 7% | 5% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 01 Sept 2023 | 17 | 93% | 4% | 3% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 01 Sept 2023 | 14 | 95% | 3% | 2% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 01 Sept 2023 | 12 | 95% | 3% | 2% | 2% |
| 01 Jul 2017 - 31 Dec 2017 | 01 Sept 2023 | 12 | 94% | 4% | 2% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
14 days for contractors, medical consultants, and self-employed individuals; 30 days for all other invoices; 45 or 60 days on specific contracts; Or as otherwise agreed with the supplier. We aim to pay at the latest 60 days after invoice receipt if there are issues that delay payment.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Please refer first to the Terms and Conditions of Supply on our Purchase Orders and ensure that your invoice matches the requirements of the purchase order, and is addressed to the correct entity within the HSL group. If you are happy you have complied with these requirements, disputes and complaints should be first escalated to the Accounts Payable team at ap@tdlpathology.com The next steps would be to contact the AP Manager, the Shared Services Manager, the Director of Finance and then the CFO through our main switchboard number as shown on the website for Health Services Laboratories. We seek to resolve disputes amicably and speedily, and we are happy to refer the case to a dispute resolution service if necessary, in line with the terms on our POs.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
The Doctors Laboratory Limited operates as The Doctors Laboratory (TDL), the largest independent provider of clinical laboratory diagnostic services in the UK. It works with the NHS and the independent sector, offering pathology and diagnostic testing through laboratories including a major hub in London and a site in Manchester. TDL forms part of Sonic Healthcare UK, which also incorporates Health Services Laboratories, TDL Trials, Cervical Screening London and HSL Advanced Diagnostics. Sonic Healthcare UK is itself part of the wider Sonic Healthcare group, an international provider of medical diagnostics operating across Australasia, Europe and North America. TDL has over 30 years of experience in UK pathology and two decades working with the NHS.
Generated from the company's website and Companies House records. Sources: sonichealthcare.co.uk · sonichealthcare.co.uk