How many days must a Pharmacy Benefit Manager notify a pharmacy of contract changes?

A Pharmacy Benefit Manager (PBM) is required to notify a pharmacy of contract changes at least 60 days prior to the effective date of those changes. This notification period allows pharmacies sufficient time to prepare for any alterations in the terms of their agreement with the PBM, ensuring they can manage their operations effectively and make necessary adjustments. The 60-day notification period is designed to promote transparency and communication between PBMs and pharmacies, thereby fostering a more cooperative relationship within the healthcare system.