Definitions

As used in this article: (1) "Pharmacist" has the same meaning as provided in Section 40-43-30. (2) "Pharmacy" has the same meaning as provided in Section 40-43-30. (3) "Pharmacy services" has the same meaning as provided in Section 38-71-2200(8). (4) "Pharmacy benefits manager" or "PBM" has the same meaning as provided in Section 38-71-2200(10). (5) "Pharmacy Services Administrative Organization" (PSAO) means an entity that has contracted with pharmacy clients in the State to conduct business on their behalf with third-party payers or pharmacy benefits managers. PSAOs provide administrative services to pharmacies and negotiate and enter into contracts with third-party payers or pharmacy benefits managers on behalf of pharmacies. (6) "PSAO-pharmacy contract" means a contractual agreement between a PSAO and a pharmacy by which a PSAO agrees to negotiate with third-party payers or pharmacy benefits managers on behalf of a pharmacy.