PBMs Legislation: Understanding the New Prompt Pay Bill Signed by Gov. Sanders
PBMs Legislation Overview
The recent legislation signed by Gov. Sarah Huckabee Sanders addresses crucial issues in the pharmacy benefit manager (PBM) sector. This law requires that PBMs reimburse pharmacists swiftly, within a 7 to 14 day timeframe after an electronic claim is submitted.
Implications for Pharmacists and Patients
For pharmacists, this law signifies a notable shift in financial operations, promoting faster cash flow. Patients also benefit from this reform as it encourages timely access to medication. In addition, another important bill focused on PBMs will be discussed in a committee soon, indicating ongoing legislative interest in healthcare policies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.