510B.7 - DUTIES TO PHARMACY NETWORK PROVIDERS.
510B.7 DUTIES TO PHARMACY NETWORK PROVIDERS. 1. A pharmacy benefits manager shall not mandate basic recordkeeping that is more stringent than that required by state or federal law or regulation. 2. If a pharmacy benefits manager receives notice from a covered entity of termination of the covered entity's contract, the pharmacy benefits manager shall notify, within ten working days of the notice, all pharmacy network providers of the effective date of the termination. 3. Within three business days of a price increase notification by a manufacturer or supplier, a pharmacy benefits manager shall adjust its payment to the pharmacy network provider consistent with the price increase.
Section History: Recent Form 2007 Acts, ch 193, §7, 9