Quarterly Provider Updates
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| File Name |
CMS-2175-IFC |
| Subject |
Medicaid Program; Time Limitation on Recordkeeping Requirements Under the Drug Rebate Program |
| Publication/Implementation Date |
01/06/2004 |
| Quarterly Release Date |
01/01/2004 |
| Provider Type |
Suppliers |
| Type of Regulation |
Regulations This Quarter |
| Regulation Summary |
On August 29, 2003, we published a final rule with comment period in the Federal Register that finalized two specific provisions: it established new 3-year recordkeeping requirements for drug manufacturers under the Medicaid drug rebate program and set a 3-year time limitation during which manufacturers must report changes to average manufacturer price and best price for purposes of reporting data to us. In addition, it announced the pressing need for codification of fundamental recordkeeping requirements. On September 26, 2003, we issued a correction notice to change the effective date of the August 29, 2003 rule from October 1, 2003 to January 1, 2004. In this interim final rule with comment period, we are removing the 3-year recordkeeping requirements, replacing them with 10-year recordkeeping requirements on a temporary basis, and soliciting comments on the 10-year requirements.Manufacturers must retain records beyond the 10-year period if the records are the subject of an audit or a government investigation of which the manufacturer is aware. These provisions contain a sunset date with respect to the record retention requirements to ensure that we reexamine whether the retention rule remain necessary and effective. This interim final rule with comment period also responds to public comments on the August 29, 2003 final rule with comment period that pertain to the 3-year recordkeeping requirement at Sec. 447.534(h). |
| Additional Information |
N/A |
| | Downloads |
CMS-2175-IFC [PDF, 62KB]
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Last Modified Date : 03/16/2006
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