POS Tender Types: Exploring A Pharmacy Point-of-Sale Fundamental

tender-types-pharmacy-pos-rmsPharmacy point-of-sale is way more than just a cash register. And we spend a lot of time talking about that fact.

But as much as all the cool features and integrations might seem more innovative and interesting, the fact remains that every single dollar spent in your pharmacy still goes through the point-of-sale. And how you accept those dollars matters.

The Basics: Cash, check or card? These are the most commonly used payment types out there. And it should go without saying that any point-of-sale system can accept them all. But don’t take them for granted. Make sure you understand the process established for cash management and confirm the availability of options for cashier drawer assignments. If checks are something you accept regularly, check verification programs, options for tracking bad checks and check imprinting should all be considerations. And of course, when it comes to credit cards, there are plenty of factors to consider. EMV, P2PE, NFC, EBT to name a few. We’ve all heard the acronyms. Think about your needs both present and future. (Don’t worry, we have an entire web page devoted to all things credit card processing) Also make sure to ask if your POS provider allows processor flexibility so you aren’t stuck with just one option.

Pharmacy must haves: Processing transactions in your pharmacy is much different than processing them in any other retail vertical. First, you need the ability to accept FSA cards which requires special coding and certifications. Make sure you look for a provider that offers full IIAS processing capabilities to avoid unnecessary FSA card declines.

Accounts receivable/House Charge capability is another feature that you don’t often see outside of the pharmacy industry. But many of our customers continue to offer this option to their customers. Don’t take it for granted that just any point-of-sale provider will offer a program that will meet your needs for processing and billing A/R payments.

On the outpatient pharmacy side of things, payroll deduction has become a huge talking point in recent months. Having this option available makes it easy to encourage employees to fill prescriptions and pick up other necessities at the pharmacy instead of going elsewhere.  This drives additional script volume and revenue in your OP.

Some nice to have extras: Offering store branded gift cards is a good way to boost profits in your pharmacy. Having an easy way to sell, track, and redeem cards is a good thing to take into consideration. When you tie in a customer loyalty program, make sure it’s easy for customers and store employees to redeem coupons and points.

All the little things that go into pharmacy point-of-sale make an impact. Make sure to choose a system that makes even the little things crazy easy.

 

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