S.B. 1414 Summary

• Restricts markups on repackaged prescription drugs and physician-dispensed premixed or prepackaged compounded medications in workers' compensation to amounts currently authorized for retail pharmacies.

• Establishes that repackaged drug prices shall not exceed what would be payable if the drug had not been repackaged or relabeled.

• Requires repackaged drug pricing to be calculated by multiplying units dispensed by the average wholesale price of the original manufacturer's drug plus 40 percent.

• Sets reimbursement for physician-dispensed premixed or prepackaged compounded medications based on the sum of fees for each medication ingredient with a national drug code.

• Implements a 60-day payment deadline for repackaged or premixed compounded medication charges, with 1 percent monthly interest on unpaid undisputed amounts.