Medicare Prescription Payment Plan (M3P) Solution Campaign

When the Centers for Medicare and Medicaid Services (CMS) released its Final Guidance for the Medicare Prescription Payment Plan (M3P) in February 2024, panic ensued. M3P is a new payment option in the prescription drug law that enables Medicare Part D beneficiaries to spread out the cost of their drugs covered by their plan over the course of the calendar year. Plan sponsors with eligible beneficiaries had to either build an internal solution or procure and implement an external solution by October. This gave them 7 months to not only find a solution that would meet CMS’ strict requirements but also to bridge a significant knowledge gap. As one of Capital Rx’s internal subject matter experts, Jason Barretto (SVP, Government Programs) put it, “M3P represents the biggest change to Medicare Part D since Medicare Part D.”

Capital Rx, leveraging its purpose-built enterprise health platform, JUDI®, built an end-to-end turnkey M3P solution and deployed it to market in a matter of months. The company then set out to do three things:

Raise awareness among health plans about Capital Rx’s M3P solution

Drive engagement by encouraging Medicare Part D plans to request meetings via our website

Implement the product offering with these health plans

Capital Rx worked hard to simultaneously educate plan sponsors about this law and to answer questions about its complicated details.

This campaign ran for two months, and we leveraged multiple marketing channels – including email, social media, our podcast, paid ads, a web landing page, and a webinar – to accomplish these goals. It was a significant success; Capital Rx signed 15 clients representing more than 327,000 lives and growing its Medicare Book of Business by 300%. Marketing influence on closed/won opportunities was an incredible 80%. All of this was accomplished with a budget of $13,000.