If you missed the deadline to file your organization's first RxDC report, don't worry: the Departments of Health and Human Services, Labor, and Treasury has extended the deadline for filing from December 27, 2022 to January 31st, 2023. That means insurance companies and employer-based health plans have just under a month to get the necessary paperwork to the Centers for Medicare and Medicaid Services, according to an analysis from Arthur J. Gallagher & Co, an insurance broker, which called the extension "late but welcomed news."

RxDC reports, also known as Prescription Drug Data Collection reports, became required after Congress passed the Consolidated Appropriations Act in 2021. Per the legislation, organizations must share a variety of data about prescription drugs as they relate to health plans, such as what patients pay for cost-sharing, what the most commonly used drugs are, and what rebates drug manufacturers offer.

According to the Centers for Medicare and Medicaid Services website, data from the reports will allow governmental agencies to analyze medical spending in the U.S. The reports themselves will also make drug pricing more transparent, the website suggests.