Any agreement or contract entered into in this state between the program administrator of a third-party prescription program and a pharmacy shall include a statement of:

(1) The method and amount of reimbursement to the pharmacy for services rendered to persons enrolled in such program;

Terms Used In Tennessee Code 63-10-103

  • Contract: A legal written agreement that becomes binding when signed.
  • Pharmacy: means a location licensed by this state where drugs are compounded or dispensed under the supervision of a pharmacist, as defined in the rules of the board and where prescription orders are received or processed. See Tennessee Code 63-10-204
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) The frequency of payment by such program administrator to the pharmacy for such services rendered; and
(3) A method for the adjudication of complaints or the settlement of disputes between the parties.
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