The Pharmacy Earlier Payment Scheme (PEPS)

The Pharmacy Earlier Payment Scheme (PEPS)

The Pharmacy Early Payment Scheme, operated by Citibank, is an opt-in scheme which allows contractors to receive advance funding on attractive interest terms. Only those contractors who register for the scheme and ensure their bundles are received by the NHS BSA by set dates will be able to access the early payments.

Part I, Clause 5C of the Drug Tariff explains by means of this table (which we have simplified slightly here):

Prescriptions received by NHSBSA Pharmacy receives advance payment element from Citibank Pharmacy receives positive reconciliation payment from Citibank NHSBSA recover negative reconciliation payment from Pharmacy through Citibank
3rd of the month* 8th of the month* Normal payment date, usually 1st of following month As a deduction from next available advance payment
No later than the 8th of the month* 12th of the month* Normal payment date, usually 1st of following month As a deduction from next available advance payment
After 8th of the month* Normal payment date, usually 1st of following month Normal payment date, usually 1st of following month As a deduction from next available advance payment

*If days referred to above fall on a weekend or bank holiday, the next available working day will be applied.

 

Further support

To assist pharmacy contractors in understanding the new details on their Schedule of Payment (FP34), the NHS Business Services Authority have now compiled a help guide for contractors. This can be found on their website.

See also:

NHSBSA Guidance on Understanding Your Schedule of Payment for Pharmacy Early Payment Scheme

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