Pharmacy benefit management definition

Pharmacy benefit management means any of the following:

Pharmacy benefit management or “PBM,” means the administration of prescription drug programs, including developing and maintaining a list of medications that are approved to be prescribed, contracting with pharmacies, negotiating discounts and rebates with drug manufacturers and processing prescription drug claim payments;

Pharmacy benefit management means an arrangement for the

Examples of Pharmacy benefit management in a sentence

• Pharmacy benefit management services and other administrative expenses of the prescription drug benefit for each plan offered by a public payor.

• Enacted by Chapter 280, 2004 General Session 58-17b-622 Pharmacy benefit management services -- Auditing of pharmacy records -- Appeals.

• Designated employees shall disclose all investments and business positions in business entities, and income, including gifts, loans and travel payments, from the following:• Health insurance carriers.• Health insurance agents or brokers.• Health care providers.• Health care facilities or health clinics.• Pharmaceutical companies.• Medical device or equipment manufacturers or distributors.• Pharmacy benefit management companies.

• The Contractor shall promptly respond to all inquiries from the Board concerning any aspect of the Pharmacy benefit management program.

• Pharmacy benefit management tools are a feature of the current prescription drug market and are used to lower drugcosts.

More Definitions of Pharmacy benefit management

Pharmacy benefit management means an arrangement for the procurement of prescription drugs at a negotiated rate for dispensation within this State to beneficiaries, the administration or management of prescription drug benefits provided by a health benefit plan for the benefit of beneficiaries, or any of the following services provided with regard to the administration of pharmacy benefits:

Pharmacy benefit management means the procurement of

Pharmacy benefit management means an arrangement for

Pharmacy benefit management means the services provided to a self-insured employer or insurance carrier, directly or through another entity, including:

Pharmacy benefit management means any of the following: (1) The procurement of prescription drugs at a negotiated

Pharmacy benefit management means the services provided to a self-insured employer (or insurance carrier) directly or through another entity, including (1) the negotiation of the amount to be paid for prescription medicine or drugs by the self-insured employer (or insurance carrier) and the amount paid to independent pharmacy, pharmacy chain, or remote pharmacy dispensing prescription medicine or drugs; (2) procurement of prescription medicines or drugs to be dispensed to injured employees; or (3) the administration or management of prescription medicine or drug benefits, including, but not limited to, any of the following: (1) mail service pharmacy; (ii) claims processing, retail network contracting and management, or payment of claims to pharmacies for dispensing prescription medicines or drugs; (iii) patient compliance, therapeutic intervention, or generic substitution programs;

Pharmacy benefit management means pharmacy benefit management and administration, including (as the same relate to pharmacy benefit administration services) claims processing adjudication, plan implementation, consulting services, pharmacy network management, mail service pharmacy, eligibility management, customer services, data reporting, drug utilization, formulary management and contracting (evaluating formulary status, negotiation of contracts with manufactures, procurement, disbursements of rebates, and utilization management), enforcement of therapy guidelines and drug principles, communication with physicians, pharmacists and patients regarding therapy guidelines and drug principles, management of payments and associated financial transactions, and account administration.