By: Kaitlyn MacLeod, Esq.
Our consultants have been receiving tons of questions in the last month about the upcoming Prescription Drug and Health Care Spending reporting (RxDC) requirements. The first two reports are due on December 27, 2022, for the 2020 and 2021 calendar years.
Referring to this requirement as the Prescription Drug Data Collection is a misnomer – a lot of the required elements are related to health care spending, not prescription drug costs – which is a surprise to many. Be sure that you know what data you need to provide to stay in compliance. Outside of the Rx data, CMS is requesting the following:
In addition to the above, the RxDC requirements do require specific reporting on Prescription Drug spending, including:
Typically, a plan may receive this information through its TPA or PBM. TPAs should consider updating their ASAs to explicitly provide what data, if any, they are reporting on behalf of the plan to meet the RxDC requirements.
There is a common misconception that only PBMs need to fill out the required information – it is ultimately the plan’s responsibility to ensure compliance. Even if a plan contracts with their vendors like TPAs and PBMs to provide part of the data, the plan will still be responsible for ensuring that all of the data is submitted.
What should plans do now?
Do you have questions about the RxDC Reporting Requirements? We are here to help, contact us at pgcreferral@phiagroup.com
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