Section 38-71-2310 - DefinitionsAs used in this article:
(1) "Pharmacist" has the same meaning as provided in Section 40-43-30(65).(2) "Pharmacy" has the same meaning as provided in Section 40-43-30(67).(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.Added by 2023 S.C. Acts, Act No. 30 (SB 520),s 3, eff. 1/1/2024. 2023 Act No. 30, Section 7, provides as follows:
"SECTION 7. This act takes effect January 1, 2024, but the recurring examinations by the Department of Insurance provided for in Sections 38-71-2250(B)(1) and 38-71-2340(B)(1) must not begin before January 1, 2025."