PBM reverse auction definition
PBM reverse auction means an automated, transparent, and
PBM reverse auction means an automated, transparent, and dynamically competitive bidding pro- cess conducted online that starts with an opening round of bids and allows qualified PBM bidders to counter- offer a lower price for as many rounds of bidding as determined by the department of administrative services or its authorized representative conducting the reverse auction for a multiple health plan prescription drug purchasing group.
PBM reverse auction means an automated, transparent, and dynamically competitive bidding process conducted online that starts with an opening round of bids and allows qualified PBM bidders to counter-offer a lower price for as many rounds of bidding as determined by the department for a multiple health plan prescription drug purchasing group.
More Definitions of PBM reverse auction
PBM reverse auction means an automated, transparent, and dynamically competitive bidding process conducted online that starts with an opening round of bids and allows qualified pharmacy benefit manager bidders to counter-offer a lower price for as many rounds of bidding as determined by the purchaser for a multiple health plan prescription drug purchasing group. Except to the extent clearly provided by this Section, any pharmacy benefit manager reverse auction shall be conducted in accordance with R.S. 39:1600(D) and its corresponding regulations.