DES MOINES, Iowa - (Business Wire) The Iowa Medical Society (IMS) today announced it has selected Standard Register (NYSE: SR), the nation
’s leading authority on secure prescription solutions, to provide its members with tamper-resistant prescription pads that meet the higher security standards that will be required on October 1, 2008. IMS members will receive a discount on prescription pads and paper from SR, which will be the sole supplier.
The new prescription security standards are dictated by the Centers for Medicare and Medicaid Services (CMS). CMS issued guidelines last August when the U.S. Congress passed legislation to help curb prescription fraud which amounts to a $5 billion loss annually. The law requires that all outpatient Medicaid prescriptions be written on tamper-resistant pads. The CMS took a two-phase approach to implementation, requiring one security feature on prescription pads by April 1, 2008 and three security features by October 1, 2008.
“We wanted to ease the compliance burden for IMS members by providing them with an affordable but effective way to meet CMS prescription requirements,” said IMS President Patricia Hoffmann, D.O. “There’s been a lot of confusion over CMS requirements and what constitutes secure features. Standard Register offers the expertise and the tamper-resistant prescription pads that have proven their effectiveness in reducing fraud.”
The most widely published success of secure prescription pads has been in the state of New York where Standard Register is exclusive provider. In a presentation at the National Association for Medicaid Program Integrity Conference, the state reported it had eliminated over $60 million in fraud losses within six months of deploying its secure prescription program.
Standard Register’s proprietary ScripPlus prescription pads integrate multiple security technologies. They combine heat-sensitive inks, micro-printing and unique background patterns with artificial watermarks, chemical-sensitive coatings, warning bands and consecutive numbers to create a scrip pad that is highly effective in deterring criminals from modifying, copying and counterfeiting prescriptions.
Additionally, Standard Register’s operations follow SAS-70 II auditing standards. The company has established stringent controls for managing secure prescriptions and sensitive data. Processes ensure the entire prescription supply chain is secured, from the point of order to delivery.
Standard Register has a special Web site (www.securescrip.com) where IMS members can order their prescription pads. The site also offers a robust resource center that includes useful information about federal regulatory requirements, the nature of prescription fraud and steps the medical community can take to deter fraud.
ABOUT THE IOWA MEDICAL SOCIETY
The Iowa Medical Society (IMS) is a statewide professional association that represents over 4,600 MDs and DOs. Its core purpose is to assure the highest quality of health care in Iowa through its role as physician and patient advocate. The IMS was established in 1850 in Burlington and has a long history of serving Iowa physicians and their patients. The IMS exists to advance medical science and promote fair medical laws and regulations in Iowa. IMS also works to protect the health of Iowans through a variety of projects and activities at the state and national levels. More information is available at www.iowamedical.org.
ABOUT STANDARD REGISTER
Standard Register is a premier document services provider, trusted by healthcare, business and government to manage the critical documents they need to thrive in today's competitive climate. Employing nearly a century of industry expertise, Lean Six Sigma methodologies and leading technologies, the company helps organizations mitigate risks, increase efficiency, reduce costs, grow revenue and meet the challenges of a changing business landscape. In addition to providing secure prescription solutions, the company offers document and label solutions, technology solutions, consulting services and print supply chain services to help clients manage documents across their enterprises. More information is available at www.standardregister.com.
News media contacts:
The Iowa Medical Society
Lucinda Stephenson, 515-223-1401, ext. 242
lstephenson@iowamedical.org
or
Standard Register
Christine Winters, 937-221-1804
christine.winters@standardregister.com
OR
Investor contact:
Robert J. Cestelli, 937-221-1304
robert.cestelli@standardregister.com
