Pharmacy contractors to get access to early monthly advance payment

Community pharmacy contractors will soon be able to access their monthly advance payment under a new scheme.

Contractors will receive an estimated early payment after July 1. This will be based on their submission history as the Pharmacy Earlier Payment Scheme (PEPS) which is being updated to provide early access to their advance payment.

Contractors can access funds up to two months earlier and before the NHS Business Services Authority (NHSBSA) receives their FP34C submission document.

NHSBSA will calculate an average estimated early payment based on the contractor’s individual dispensing history over the last one year.

There will be one payment date at the beginning of the dispensing month.

Pharmaceutical Services Negotiating Committee said: “Contractor’s 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.”

The previous PEPS terms will no longer apply from July 1.

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 May 31.

Existing pharmacy contractors who do not send in their revised terms and conditions will revert to the normal payment timetable.

Updated PEPS payment timings

(Credit: PSNC)