Dae Y. Lee

How Dae Helps Clients

Dae Y. Lee, Pharm.D., Esq., CPBS focuses on representing pharmacies in their dealings against Pharmacy Benefit Managers (PBMs). With extensive experience in the intricacies of PBM audits, investigations, network enrollment, network suspension, network terminations, reimbursement disputes, and DEA as well as other governmental investigations, Dae has become a trusted advisor to a broad cross-section of pharmacies and pharmacy providers, including community retail pharmacies, chain pharmacies, compounding pharmacies, specialty pharmacies, mail order pharmacies, home infusion providers, and dispensing physician practices.. His practice also extends to assisting other stakeholders in the pharmacy industry such as wholesalers, manufacturers, and other healthcare providers. 

In addition to his PBM-focused work, Dae represents entities in pharmacy-related transactions and assists clients with corporate formation, due diligence, licensing, change-of-ownership requirements and credentialing, providing comprehensive legal support throughout the transaction process. 

For Plan Sponsors including Self-Funded Employers, Governmental agencies, State-funded universities, and Medicare Part D Sponsors Dae advises Plan Sponsors to properly manage prescription drug benefits, monitor PBMs’ performance, reduce drug spend, and assist Plan Sponsors to fulfill their fiduciary duties. For example, Dae assists Plan Sponsor clients in understanding and executing fiduciary duties owed under the Employee Retirement Income Security Act of 1974 (ERISA) and Consolidated Appropriations Act of 2021 when contracting with PBMs. 

For manufacturers, Dae negotiates rebate agreements and ensures they are only paying rebates specified under the contract terms. He advises on rebate strategies that comply with evolving laws and regulations, helping manufacturers minimize financial exposure while maximizing efficiency and competitive positioning. His proactive approach enables manufacturers to navigate legal complexities confidently and effectively.

Dae is a Certified Pharmacy Benefits Specialist™ (CPBS™). Offered through TransparentRx and accredited by the University of Kentucky School of Pharmacy, the CPBS program is designed to cover complex topics of pharmacy benefit management in order to provide a foundational knowledge required for higher-level evaluation of PBM business operations, fundamentals of PBM pricing, plan design, cost-containment strategies, PBM contracts, PBM procurement, Specialty Pharmacy benefits management, and overall PBM performance with emphasis on cost effectiveness. 

Dae has been recognized as a Super Lawyer in Super Lawyers - New Jersey in 2024 and 2025, and as a Rising Star in Super Lawyers – New York Metro and New Jersey from 2018 through 2023.

With a commitment to both legal excellence and genuine client advocacy, Dae believes in not just solving problems, but building lasting solutions that empower others.

What Clients Can Expect

Dae is known for his strategic approach to resolving disputes between pharmacies and PBMs, often leading to favorable outcomes that preserve pharmacy operations and secure appropriate reimbursements. His deep understanding of the regulatory environment and his ability to anticipate PBM tactics make him an invaluable asset to his clients. 

Clients appreciate Dae’s hands-on, collaborative approach, ensuring they are informed and involved throughout every stage of the process. He takes the time to understand each client’s unique challenges and tailors his strategies to align with their business goals. Whether addressing PBM audits, network terminations, or reimbursement disputes, Dae combines legal expertise with business acumen to deliver results that not only resolve immediate issues but also mitigate risks and strengthen long-term compliance.

For Plan Sponsor clients, Dae assists with PBM contract negotiations, compliance reviews, and dispute resolution, empowering Plan Sponsors to optimize their pharmacy benefits while maintaining regulatory compliance. By leveraging his deep industry knowledge and experience, Dae helps Plan Sponsors achieve cost savings, transparency, and fairness in their dealings with PBMs.  

Beyond his client work, Dae is actively involved in thought leadership within the industry, frequently contributing to articles and speaking at conferences on topics related to PBM practices, pharmacy rights, and healthcare transactions. He is committed to advocating for the rights of independent pharmacies and plan sponsors, ensuring that they are treated fairly in an often-challenging marketplace. 

Outside the Office

Outside of work, Dae is a family-oriented person who loves spending time with his loved ones. Dae is fortunate to have a close-knit family that keeps him grounded and provides endless support. When Dae is not immersed in work, he enjoys exploring new destinations, whether through travel or just trying out a new restaurant in his hometown with family. All in all, Dae strives to lead a well-rounded life that keeps him curious, engaged, and connected to the people and things that matter most.

Proof Points

• PBM Audit Defense and Network Disputes - Represent pharmacies in defending against PBM audits, Fraud, Waste and Abuse (FWA) investigations, network suspensions, enrollment denials, and network terminations.
• Regulatory and Compliance Counseling - Advise pharmacies, wholesalers, manufacturers and Plan Sponsors on regulatory compliance ranging from state pharmacy fair audit laws, FDA regulations, Board of Pharmacy standards, and ERISA.
• Plan Sponsor Representation - Counsel self-funded employers and plan sponsors in contract negotiations, disputes, and regulatory matters involving PBMs to ensure cost-effective prescription drug benefits.
• Business Strategy and Consulting - Develop strategies for pharmacies, wholesalers, manufacturers and Plan Sponsors to mitigate legal and operational risks while improving compliance and profitability.

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