Section 56-7-3107 - Information to be provided regarding maximum allowable cost lists - Updating maximum allowable cost lists(a) A pharmacy benefits manager or covered entity shall make available to each pharmacy with which the pharmacy benefits manager or covered entity has a contract and to each pharmacy included in a network of pharmacies served by a pharmacy services administrative organization with which the pharmacy benefits manager or covered entity has a contract, at the beginning of the term of a contract and upon renewal of a contract: (1) The sources used to determine the maximum allowable costs for the drugs and medical products and devices on each maximum allowable cost list;(2) Every maximum allowable cost for individual drugs used by that pharmacy benefits manager or covered entity for patients served by that contracted pharmacy; and(3) Upon request, every maximum allowable cost list used by that pharmacy benefits manager or covered entity for patients served by that contracted pharmacy.(b) A pharmacy benefits manager or covered entity shall: (1) Update each maximum allowable cost list at least every three (3) business days, as required by § 56-7-3104(b);(2) Make the updated lists available to every pharmacy with which the pharmacy benefits manager or covered entity has a contract and to every pharmacy included in a network of pharmacies served by a pharmacy services administrative organization with which the pharmacy benefits manager or covered entity has a contract, in a readily accessible, secure and usable web-based format or other comparable format or process; and(3) Utilize the updated maximum allowable costs to calculate the payments made to the contracted pharmacies within five (5) business days.Added by 2014 Tenn. Acts, ch. 857,s 2, eff. 1/1/2015.