Fast pay bill introduced in the House

The Fair and Speedy Treatment (FAST) of Medicare Prescription Drug Claims Act of 2007 was introduced last week in the House of Representatives. The bill would require PBMs to quickly compensate pharmacies for Medicare Part D Rxs and comes in response to pharmacy complaints of "low and slow" payments. The bill also eliminates the practice of "cobranding" on Medicare identification cards and requires that complete and accurate Medicare Part D prescription drug claims submitted electronically be paid within 14 days by electronic funds transfer; paper claims would be paid within 30 days. NCPA, which worked on crafting the bill, was quick to praise it as "an important step in addressing the issues threatening community pharmacies and the patients they serve." PCMA, on the other hand, issued a statement calling the bill a fast track to higher prescription drug costs."

To see more Hot off the Press news articles, click here.

To go to the Drug Topics homepage, click here.