CPhT CPhT Insurance and Billing

Question 1

What does 'DAW' stand for on a prescription?

Accepted Answer

Dispense As Written

Answer

Drug Authorization Waiver

Answer

Daily Allowed Withdrawal

Answer

Dose Adjustment Warning

Question 2

What is a pharmacy benefit manager (PBM)?

Accepted Answer

A third-party administrator that manages prescription drug benefits

Answer

A pharmacy technician supervisor

Answer

A government agency that regulates drug pricing

Answer

A pharmacist who manages patient medications

Question 3

What is a formulary?

Accepted Answer

A list of approved medications covered by an insurance plan

Answer

A calculation method for pediatric dosing

Answer

A register of controlled substances

Answer

A form used for prior authorization

Question 4

What does 'prior authorization' (PA) require?

Accepted Answer

Approval from the insurance company before dispensing certain medications

Answer

A patient signature before dispensing

Answer

A second pharmacist verification

Answer

A DEA number from the prescriber

Question 5

What is a copayment in pharmacy billing?

Accepted Answer

A fixed amount the patient pays for a prescription

Answer

The total cost of a medication

Answer

The amount reimbursed to the pharmacy

Answer

A deductible paid annually

Question 6

What is the BIN number used for in pharmacy?

Accepted Answer

Routing insurance claims to the correct PBM

Answer

Identifying the pharmacy location

Answer

Tracking controlled substance inventory

Answer

Identifying the prescriber