Contractor Notice: Changes to PEPS

Contractor Notice: Changes to PEPS

May 18, 2020

From 1 July 2020 the Pharmacy Earlier Payment Scheme (PEPS) is being updated to provide contractors even earlier access to their monthly Advance payment. Under the new scheme, pharmacy contractors can receive an estimated early payment, based on their submission history, before the NHS Business Services Authority (NHSBSA) receives their FP34C submission document. This means pharmacy contractors can access funds up to 60 days earlier.

NHSBSA will calculate an average estimated early payment based on your individual dispensing history over the last 12 months.  There will be one payment date at the beginning of the dispensing month. Contractors actual monthly submission will be offset against the estimated early payment they receive and this payment will be reconciled against the actual payment when it is due. It is important that the prescription batches and accompanying FP34C are submitted to the NHSBSA within the normal submission deadlines i.e. by the 5th day of the month following that in which the supply was made.

The previous PEPS terms will no longer apply from 1st July 2020. Pharmacy contractors currently signed up to PEPS who wish to continue with the new scheme must send a completed revised terms and conditions form the NHSBSA by 31st May 2020. Existing pharmacy contractors who do not send in their revised terms and conditions will revert to the normal payment timetable.

PEPS was first introduced in April 2013. It is a privately financed, voluntary arrangement, as part of a broader initiative by the UK Government, to allow community pharmacies early access to their monthly advance payment for the provision of NHS pharmaceutical services. The voluntary arrangement is financed by Taulia and is facilitated by NHSBSA.

Updated PEPS payment timings

See NHSBSA’s The Pharmacy Earlier Payment Scheme (PEPS) page for full details of what’s changed.

Visit the Taulia website for more information, key dates and an interest calculator to show you the cost of borrowing for your pharmacy.

FAQs

How do I opt to remain in the Pharmacy Earlier Payment Scheme (PEPS)?

If you are currently opted in to PEPS you should have received a letter from NHSBSA in April 2020 outlining your options. Please respond, advising NHSBSA whether you wish to remain in PEPS, or be transferred and paid by NHSBSA according to the normal payment timetable. If you have not received a letter and are opted in to PEPS please contact NHSBSA on 033 330 1349 or email nhsbsa.prescriptionservices@nhsbsa.nhs.uk.

Please note you will need to respond by 31st May 2020. After 31st May 2020, if NHSBSA haven’t heard from you NHSBSA will assume you do not want to take up the new scheme and you will be opted out and will revert to the normal payment timetable.

How do I opt in to the PEPS?

If you are not already part of PEPS and wish to join the scheme, please contact the NHSBSA by emailing nhsbsa.pepscontractorpayments@nhs.net for further information.



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