191—59.7 (510B) Price change. For purposes of Iowa Code section 510B.7(3), a “price increase notification by a manufacturer or supplier” includes price changes made by national compendia or other services used by a pharmacy benefits manager which take into account, in whole or in part, price changes made by manufacturers or suppliers to help facilitate the development of a drug’s maximum reimbursement amount to a pharmacy. A pharmacy benefits manager may comply with the requirements of Iowa Code section 510B.7(3) by keeping a list of current therapeutically, pharmaceutically equivalent multiple-source prescription drugs and current maximum reimbursement amounts for those therapeutically, pharmaceutically equivalent multiple-source prescription drugs and by updating that list at least every three business days with any maximum reimbursement amount changes. This list shall be made available to pharmacies through a readily accessible and easily usable online format, or in some other readily accessible and easily usable format.
[ARC 1466C, IAB 5/28/14, effective 7/2/14; ARC 2518C, IAB 4/27/16, effective 6/1/16]