Not sure what a level 3 PCMH is.
We did get PCMH designated by BCBS of Michigan which I understand is a much less onerous process than the NCQA standards.
For the BCBS designation, it was a year long process of following a 'recipe' provided to us by a local physician org.
Significant benefits to PCMH: mainly in the form of higher payments from BCBS and others.