TO AMEND THE LAW CONCERNING PHARMACY BENEFITS MANAGERS; AND TO REGULATE PROCESSING AND PAYMENT OF PHARMACY CLAIMS.

HB 1620 requires pharmacy benefits managers (PBMs) to pay Arkansas-licensed pharmacies and pharmacists promptly for "clean claims" (claims processed successfully without errors or missing documentation). It directly affects all Arkansas pharmacies and pharmacists who bill PBMs for prescription drugs, ensuring stable cash flow for operations and patient care. Key mechanisms include defining "clean claims" as real-time processed claims with approved payments, setting clear timelines for claim receipt (e.g., electronic claims on transfer date), and prohibiting post-payment audits that delay payments. The law also expands the Pharmacy Audit Bill of Rights to cover Medicaid program audits and clarifies that PBMs cannot use prescription validation requests to withhold payment after a claim is approved.