Bend, OR (PRWEB) March 7, 2009
With a looming regulatory deadline this summer, many pharmacies are scrambling for an affordable, dependable point-of-sale system to ensure compliance with the IRS inventory information approval system (IIAS) requirements. Oregon-based Paladin Data Corporation is applying its nearly 30 years of experience to help independent pharmacies to affordably meet their federal compliance requirements with its powerful Paladin POS and innovative subscription-based pricing model.
Beginning January 1 last year, the IRS required "non-healthcare" retailers, such as supermarkets, grocery stores, discount stores, warehouse clubs, and mail-order merchants, that sell medical goods and services to maintain a point-of-sale system that effectively identifies eligible transactions when consumers use flexible spending account (FSA) and health reimbursement arrangement (HRA) debit cards. IIAS-compliant transactions enable real-time, auto-substantiation for eligible medical items purchased with an FSA/HRA payment card. All non-healthcare retailers must be compliant by July 1.
With Paladin POS, a pharmacy customer can walk up to the register with a mix of eligible pharmacy items and other products, and the Paladin system will separate out the tax-deductible medical supplies and prescriptions from Food Stamp eligible groceries and other non-eligible products. The customer can then pay with three different tenders: HSA debit card for the pharmacy products, EBT card for the qualified Food Stamp groceries, and a personal check card for the rest of their purchase. Paladin handles it all instantly and automatically.
"Some of the large chain stores' POS systems can't handle these complicated transactions as well as the Paladin system does," says Dan Nesmith, Paladin president. "So Paladin POS represents an opportunity for the independent stores to gain an advantage in an industry increasingly dominated by large franchises."
Paladin Data Corp. is a member of the Special Interest Group for IASS Standards (SIGIS), and the Paladin POS is one of the organization's designated POS solution providers. The Paladin POS also fully integrates with the Suite-RX automated pharmacy dispensing system.
Customers currently using the Paladin POS include independent pharmacy locations in Oregon and Washington. Paladin Data Corporation is a Microsoft Gold Certified Partner. For more information about IIAS and SIGIS, visit http://www.sig-is.org. For more information about Paladin POS, go to paladinpos.com.
:: ABOUT IIAS & SIGIS
The Special Interest Group for IIAS Standards (SIGIS), introduced of a voluntary industry standard solution to meet IRS requirements for operating an inventory information approval system (IIAS). The SIGIS IIAS standards enable a broad range of participants in health benefit payment card transactions to implement consistent systems and processes for transaction processing and data retention.
IIAS-compliant transactions enable real-time, auto-substantiation for eligible medical items purchased with an FSA/HRA payment card. Implementation of the voluntary SIGIS standard will lead to a more efficient healthcare expense payment mechanism for consumers who can continue using their FSA/HRA payment cards at participating retailers.
:: ABOUT PALADIN DATA CORPORATION
Paladin Data has been developing, supporting and delivering Point of Sale (POS) and Inventory Management Solutions for nearly 30 years. The people at Paladin Data Corporation are experts in the field of POS, Inventory Control, Accounts Receivable, 24/7 Customer Support, and conversion from other systems. The Paladin POS Solution is sophisticated yet easy to learn, use and operate and offers an intuitive graphical user interface (GUI) that closes the gap between people and computers.