With the deadline approaching for Medicare Part D plans to implement a Real Time Benefit Tool (RTBT) — which informs prescribers when lower-cost alternative therapies are available under a beneficiary's drug benefit — Prime Therapeutics, LLC said on Sept. 2 that it is rolling out a tool that will meet the new requirements, AIS Health reported.
In addition to showing a drug's price, the Real Time Benefit Check tool displays lower-cost and therapeutically equivalent alternatives to any given drug, breaks down costs based on a member's health plan formulary, and alerts a prescriber if a drug requires prior authorization.
After processing 700,000 transactions among 25,000 prescribers, Prime calculated an average annual savings of $692 for each prescription that was changed as a result of using the tool. One Blues plan involved in the pilot "realized a total estimated savings due to alternate drug choices of $348,000 from April 2019 to March 2020," stated a news release from the PBM.
Prime's new Real Time Benefit Check tool will fulfill its obligations under the Medicare Advantage and Part D Drug Pricing Final Rule, which was issued in May 2019 and requires each Part D health plan to adopt one or more RTBTs that can integrate with at least one prescriber's ePrescribing system or electronic health record system starting Jan. 1, 2021. In addition to Prime's Part D members, the Real Time Benefit Check tool will also be available to the PBM's commercial members.
Matt Kazan, a principal at Avalere Health, says that initially the new RTBT requirement was slated to go into effect in 2020, but CMS pushed back the deadline one year in response to some industry stakeholders' concerns over readiness.
"Generally speaking, larger organizations had a system in place…and CMS is allowing them to utilize that," says Kazan. "I think more of the concern was from maybe smaller, midsized organizations that didn't have their own system ready to go."
However, "time has lapsed since that final rule, so I’ve heard less about major concerns about the upcoming deadline," he adds.