(a) A pharmaceutical manufacturer that utilizes a vendor, pharmacy benefits manager, or electronic claims processor to process prescription drug manufacturer coupons or pharmaceutical manufacturer coupons shall:(1) Have an active wholesale distributor permit and be in good standing with the Arkansas State Board of Pharmacy under § 20-64-505; and(2) Ensure that an intermediary, vendor, pharmacy benefits manager, or a claims processor complies with timely payment of a pharmacy claim as required under § 23-92-512.
(1) Have an active wholesale distributor permit and be in good standing with the Arkansas State Board of Pharmacy under § 20-64-505; and
(2) Ensure that an intermediary, vendor, pharmacy benefits manager, or a claims processor complies with timely payment of a pharmacy claim as required under § 23-92-512.
(b) (1) The board shall require a pharmaceutical manufacturer to pay twelve percent (12%) interest per month directly to the affected pharmacy or pharmacist if the pharmaceutical manufacturer's vendor or intermediary does not resolve a complaint for a clean claim's being paid within:(A) Fourteen (14) days after the date of the receipt of a claim for an electronic claim; or(B) Thirty (30) days after the date of the receipt of a claim for any other paper or manually submitted claim.(2) The penalty described under subdivision (b)(1) of this section begins the day after the required payment date and ends on the date on which the proper payment for the clean claim is made.
(1) The board shall require a pharmaceutical manufacturer to pay twelve percent (12%) interest per month directly to the affected pharmacy or pharmacist if the pharmaceutical manufacturer's vendor or intermediary does not resolve a complaint for a clean claim's being paid within:(A) Fourteen (14) days after the date of the receipt of a claim for an electronic claim; or(B) Thirty (30) days after the date of the receipt of a claim for any other paper or manually submitted claim.
(A) Fourteen (14) days after the date of the receipt of a claim for an electronic claim; or
(B) Thirty (30) days after the date of the receipt of a claim for any other paper or manually submitted claim.
(2) The penalty described under subdivision (b)(1) of this section begins the day after the required payment date and ends on the date on which the proper payment for the clean claim is made.