Service Performance Standards. United HealthCare and PBM shall each use good faith and reasonable commercial efforts to perform their respective duties and obligations in a diligent, professionally responsible and efficient manner. The parties agree to cooperate with and assist each other as reasonably necessary in the performance of their respective duties and in developing timely responses to the needs of United HealthCare's business. Notwithstanding the general and specific Service Performance Standards and Guarantees applicable to PBM identified in Exhibit B, PBM shall perform the services for which it is responsible under this Agreement using the same degree of skill and care in such performance as a prudent person engaged in pharmacy benefit management services would use under substantially similar circumstances in the management of a similar pharmacy benefit management business of United HealthCare's magnitude. PBM agrees to accept the Service Performance Standards and Guarantees set forth in Exhibit B, including the dollars which shall be at risk should PBM's aggregate performance or guarantees be below the indicated targets. PBM shall provide to United HealthCare: (a) monthly or quarterly reports as applicable of PBM's performance; and (b) annual statistics, within ninety (90) days of the end of the calendar year, demonstrating whether PBM met the Service Performance Standards and Guarantees described in Exhibit B. At the same time PBM provides such statistics to United HealthCare, PBM shall reimburse United HealthCare any monies owed because of PBM's failure to meet such Service Performance Standards and Guarantees.
Appears in 1 contract
Sources: Pharmacy Benefit Management Agreement (Merck Medco Managed Care LLC)
Service Performance Standards. United HealthCare and PBM shall each use good faith and reasonable commercial efforts to perform their respective duties and obligations in a diligent, professionally responsible and efficient manner. The parties agree to cooperate with and assist each other as reasonably necessary in the performance of their respective duties and in developing timely responses to the needs of United HealthCare's business. Notwithstanding the general and specific Service Performance Standards and Guarantees applicable to PBM identified in Exhibit B, PBM shall perform the services for which it is responsible under this Agreement using the same degree of skill and care in such performance as a prudent person engaged in pharmacy benefit management services would use under substantially similar circumstances in the management of a similar pharmacy benefit management business of United HealthCare's magnitude. PBM agrees to accept the Service Performance Standards and Guarantees set forth in Exhibit B, including the dollars which shall be at risk should PBM's aggregate performance or guarantees be below the indicated targets. PBM shall provide to United HealthCare: (a) monthly or quarterly reports as applicable of PBM's performance; and (b) annual statistics, within ninety (90) days of the end of the calendar year, demonstrating whether PBM met the Service Performance Standards and Guarantees described in Exhibit B. At the same time PBM provides such statistics to --------------- * Represents text deleted pursuant to a confidentiality treatment claim filed with the Securities and Exchange Commission pursuant to Rule 406 under the Securities Act of 1933, as amended. United HealthCare, PBM shall reimburse United HealthCare any monies owed because of PBM's failure to meet such Service Performance Standards and Guarantees.
Appears in 1 contract
Sources: Pharmacy Benefit Management Agreement (Medco Health Solutions Inc)
Service Performance Standards. United HealthCare and PBM shall each use good faith and reasonable commercial efforts to perform their respective duties and obligations in a diligent, professionally responsible and efficient manner. The parties agree to cooperate with and assist each other as reasonably necessary in the performance of their respective duties and in developing timely responses to the needs of United HealthCare's business. Notwithstanding the general and specific Service Performance Standards and Guarantees applicable to PBM identified in Exhibit EXHIBIT B, PBM shall perform the services for which it is responsible under this Agreement using the same degree of skill and care in such performance as a prudent person engaged in pharmacy benefit management services would use under substantially similar circumstances in the management of a similar pharmacy benefit management business of United HealthCare's magnitude. PBM agrees to accept the Service Performance Standards and Guarantees set forth in Exhibit EXHIBIT B, including the dollars which shall be at risk should PBM's aggregate performance or guarantees be below the indicated targets. PBM shall provide to United HealthCare: (a) monthly or quarterly reports as applicable of PBM's performance; and (b) annual statistics, within ninety (90) days of the end of the calendar year, demonstrating whether PBM met the Service Performance Standards and Guarantees described in Exhibit EXHIBIT B. At the same time PBM provides such statistics to United HealthCare, PBM shall reimburse United HealthCare any monies owed because of PBM's failure to meet such Service Performance Standards and Guarantees.
Appears in 1 contract
Sources: Pharmacy Benefit Management Agreement (Unitedhealth Group Inc)