Prescription drugs; creating the Oklahoma Patient Right to Know Act; authorizing pharmacists to request certain information on behalf of insured; establishing enforcement provisions. Effective date.
Impact
If enacted, the bill will require these entities to respond to pharmacists' requests within a specific timeframe of 30 days, providing crucial pricing information. Failure to comply will result in a penalty of $50 per day until the information is delivered, incentivizing timely disclosure. The fines imposed on non-compliant entities will be directed to the Insurance Department to support regulatory activities. This legislation is expected to amend existing healthcare laws to incorporate these new transparency requirements, potentially reshaping the interactions between patients, pharmacists, and healthcare providers.
Summary
Senate Bill 1916, known as the Oklahoma Patient Right to Know Act, aims to enhance transparency regarding the pricing of prescription drugs. It allows pharmacists, on behalf of patients, to request detailed information about the retail price allocation for prescription drugs from insurers, manufacturers, wholesale drug distributors, and pharmacy benefits managers. This initiative is intended to empower patients with more knowledge regarding the costs associated with their medications, aiding them in making informed decisions about their healthcare options.
Contention
While the bill is framed as a consumer protection measure, there may be contention related to its implementation and potential pushback from insurance companies and manufacturers concerned about the administrative burden and impact on their trade practices. Some stakeholders may argue about the repercussions of enforced transparency on pricing strategies within the pharmaceutical industry and how it could affect the availability of certain medications. Furthermore, discussions around the balance between empowering patients and imposing additional compliance costs on healthcare providers may emerge as key points of debate.
Professions and occupations; Oklahoma Pharmacy Act, modifying definition; authorizing pharmacists to screen and test for certain conditions; codification; effective date.
Prescription drugs; requiring certain entities to submit certain reports to the Insurance Department; directing Department to electronically publish certain information. Effective date.
Practice of nursing; providing for independent prescriptive authority of Advanced Practice Registered Nurses who meet certain requirements; modifying various provisions of the Oklahoma Pharmacy Act and the Oklahoma Nursing Practice Act. Effective date.
Practice of pharmacy; requiring wholesale distributors to provide for return of certain outdated prescription drugs; requiring prompt full credit to purchaser. Effective date.
Practice of nursing; eliminating supervision requirement for Certified Nurse-Midwife; modifying various provisions of the Oklahoma Pharmacy Act and the Oklahoma Nursing Practice Act. Effective date.
Practice of pharmacy; allowing pharmacist to test or screen for and initiate drug therapy under certain circumstances; specifying allowed tests; modifying and adding certain definitions. Effective date. Emergency.