The board, consistent with its purpose as established in KRS 7A.273, shall have the authority to:
(1) Require any of the following entities to provide any and all information necessary to carry out the board's duties, including any contracts entered into by the department, the cabinet, or any other state agency related to the administration of any aspect of the Medicaid program or the delivery of Medicaid benefits or services:
(a) The cabinet;
(b) The department;
(c) Any other state agency;
(d) Any Medicaid managed care organization with whom the department has contracted for the delivery of Medicaid services;
(e) The state pharmacy benefit manager contracted by the department pursuant to KRS 205.5512; and (f) Any other entity contracted by a state agency to administer or assist in administering any aspect of the Medicaid program or the delivery of Medicaid benefits or services;
(2) Establish a uniform format for reports and data submitted to the board and the frequency, which may be monthly, quarterly, semiannually, annually, or biannually, and the due date for the reports and data;
(3) Conduct public hearings in furtherance of its general duties, at which it may request the appearance of officials of any state agency and solicit the testimony of interested groups and the general public;
(4) Establish any advisory committees or subcommittees of the board that the board deems necessary to carry out its duties;
(5) Recommend that the Auditor of Public Accounts perform a financial or special audit of the Medicaid program or any aspect thereof; and (6) Subject to selection and approval by the Legislative Research Commission, utilize the services of consultants, analysts, actuaries, legal counsel, and auditors to render professional, managerial, and technical assistance, as needed.