WESTLAKE, Ohio–(BUSINESS WIRE)–ECHO Health, Inc. (ECHO®), a payments company focused on removing complexity and costs from payment processing, today announced that is expanding an existing solution to launch SimplicityRx. This solution empowers Medicare Part D sponsors to meet the Centers for Medicare and Medicaid Services (CMS) new program requirements for Medicare Prescription Payment Plan (M3P), which allows participants to spread prescription drug costs into monthly payments.
“We’re thrilled to be in the unique position to leverage a proven solution to support Medicare Part D plans in meeting the new CMS mandate making prescription drugs more affordable for program participants,” says Tom Dean, President, ECHO.
Built on ECHO’s Simplicity platform already in the market today, the technology supporting SimplicityRx is tested, reliable, and ready to implement. This fully compliant end-to-end solution includes ledger accounting that tracks participant activity, easy enrollment and multiple options for participant support, invoicing and collections, and reporting dashboards.
The Simplicity platform is powered by ECHO’s technology currently integrated with over 350 health plans and Third-party Administrators (TPAs). ECHO’s flexible integration capabilities enable short implementation periods, making it possible for Medicare Part D sponsors to implement SimplicityRx, meet system integration requirements with pharmacy benefit managers, and begin enrolling participants for the January 1, 2025 deadline.
To learn more about SimplicityRx, go to www.simplicitypayments.com/simplicityrx.
About ECHO – ECHO® is a payments company focused on removing complexity and costs from payment processing. We save our customers over $1 billion per year through comprehensive management of the claim payment process and providing access to the ECHO Payment Network, the industry’s largest network of insurers and service providers. ECHO settles over 600 million claims and distributes over $140 billion in payments securely (HIPAA, HITECH, and PCI compliant) across the ECHO Payment Network annually, and proprietary ECHO technology keeps policyholders and service providers happy by ensuring payments are sent in the manner they prefer.
Brian Young, Vice President Marketing