Final answer:
The delivery of a preliminary audit report for a Pharmacy Benefit Manager (PBM) typically occurs within a standard industry timeframe, often cited as 120 days after audit fieldwork, dependent on specific contract terms and regulatory requirements.
Step-by-step explanation:
When a Pharmacy Benefit Manager (PBM) undergoes an audit, the timeframe for delivering the preliminary audit report varies based on the regulating body and the specific contract terms in place. However, a common timeframe mentioned in the industry is within 120 days after the audit fieldwork has been completed. This period allows auditors to thoroughly review the PBM’s practices, including their billing, adherence to formulary agreements, and fulfillment of contract terms.
It's essential for all parties involved to adhere to the agreed timelines to ensure transparency and accountability in the process. However, it is important to consult the specific contract or regulation that applies to the PBM in question to determine the exact timeframe as these can vary substantially.