The contractor shall assist the Department in establishing the data elements that need to be collected from Kentucky pharmacies, health insurance plan issuers, and pharmacy benefit managers (PBMs) that will allow the Department to correctly determine the average cost to dispense a prescription drug in an ambulatory pharmacy located in Kentucky. The contractor will work closely with the Department and the KY Board of Pharmacy to establish theses data elements. Once the data elements are established the contractor will work closely with the Department and the KY Board of Pharmacy to help promulgate regulations for the collection of the data. Once the data is collected by the Department and the KY Board of Pharmacy, the contractor will compile the data and perform the study that will produce the average cost to dispense a prescription drug in an ambulatory pharmacy located in Kentucky. The initial study will need to be completed prior to January 1, 2027. The contactor will work with the Department and the KY Board of Pharmacy to conduct this study every two years. The contractor will testify before the Kentucky legislature on pharmacy issues as needed, prepare written reports as necessary or requested relating to pharmacy and/or PBM and insurer data, conduct other studies as necessary for the implementation of SB 188 (2024 R.S.), and provide actuarial advice as needed by the Department to carry out the implementation of SB 188 (2024 R.S.).
