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. HISTORY: 2023 Act No. 30 (S.520), Section 3, eff January 1, 2024.
South Carolina Legal Code