Which is a requirement for network pharmacies as stipulated by PBMs related to claim processing?

The requirement for network pharmacies to submit electronic claims is essential because it streamlines the claims processing system and enhances efficiency. Electronic claims significantly reduce the time it takes for pharmacies to receive payment for dispensed medications compared to traditional paper claims.

This process not only leads to quicker reimbursements but also minimizes errors associated with manual data entry, which can occur with paper submissions. Electronic claims provide a structured, standardized format that facilitates faster communication between pharmacies and Pharmacy Benefit Managers (PBMs), allowing for prompt adjudication of claims and ensuring that patient information is transmitted securely and accurately.

Moreover, the push for electronic claims submission aligns with broader healthcare initiatives aimed at promoting the use of technology to improve healthcare delivery and patient outcomes. This positioning is reinforced by regulatory guidelines and industry practices, ultimately contributing to a more efficient pharmacy care system.