The Bottom Line Pharmacy Podcast: Sykes & Company, P.A. (Sykes & Company, P.A.)
Explorez tous les épisodes de The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.
| Date | Titre | Durée | |
|---|---|---|---|
| 25 Aug 2022 | The Bottom Line Pharmacy Podcast: Employee Retention Tax Credit (ERTC) | 00:15:32 | |
In this episode of The Bottom Line Pharmacy Podcast, join Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® as they talk about qualifying for the ERTC and what to look out for. | |||
| 25 Aug 2022 | The Bottom Line Pharmacy Podcast: Inflation Reduction Act | 00:17:04 | |
Note: This video was recorded prior to the House vote and President Biden signing the Inflation Reduction Act into law.
In this episode of The Bottom Line Pharmacy Podcast, join the Sykes & Company, P.A. team as they discuss the implications of the Inflation Reduction Act. How does this affect independent pharmacies? Pharmacy CPAs and advisors Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® touch upon the corporate minimum tax, Medicare Part D implications, clean energy incentives and doubling of the R&D tax credit. | |||
| 25 Aug 2022 | The Bottom Line Pharmacy Podcast: 2022 Trade Show Circuit | 00:24:06 | |
In this lighthearted, yet educational episode of The Bottom Line Pharmacy Podcast, join the Sykes & Company, P.A. team as they recount memories and takeaways from their tour of the independent pharmacy trade show circuit in 2022. Extras include discussion around DIR fee management, diversifying revenue streams and going beyond filling prescriptions. | |||
| 07 Sep 2022 | History of Sykes & Company, P.A. in Pharmacy Accounting | 00:17:31 | |
We get asked all the time about how we got our start here at Sykes & Company, P.A., so we invited founder Ollin Sykes, CPA.CITP, CMA – the pioneer himself – to tell us how he got started in pharmacy accounting. Join Ollin, Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® on this episode of The Bottom Line Pharmacy Podcast as they talk about how Sykes & Company, P.A. grew their niche assisting independent pharmacies nationwide. As always, ask Sykes if you have any questions pertaining to pharmacy accounting and working with a pharmacy cpa. https://sykes-cpa.com/ask-sykes Listen on Spotify: https://open.spotify.com/show/1VStwVBZ5Y7OIy2REiJPFV | |||
| 22 Sep 2022 | The Bottom Line Pharmacy Podcast: NCPA Updates | 00:27:54 | |
National Community Pharmacists Association (NCPA) protects and promotes the interests of independent pharmacists whose success is vital to their patients and their communities. On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® are excited to sit down with Bri Morris, Senior Director of Program Management and Lead of Long-term Care Division at NCPA. The team discusses various hot topic updates in the pharmacy community and dives into the exciting events kicking off at the NCPA national trade show and convention in Kansas City.
| |||
| 03 Oct 2022 | The Bottom Line Pharmacy Podcast: Technology, Security and Your Pharmacy | 00:37:22 | |
Pharmacies collect Personally Identifiable Information (PII) and Protected Health Information (PHI) from their patients to dispense prescription drugs and to maintain appropriate records. Therefore, the duty to maintain the privacy of this information in this digital world is paramount. That’s why cybersecurity is gaining traction in the pharmacy industry. In this episode, we discuss various types of security threats, basic planning tips and opportunities pharmacies can take now to help mitigate this potential risk inside your pharmacy. Join our independent pharmacy CPAs, Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® on this episode of The Bottom Line Pharmacy Podcast as they talk with Chris Sykes, IT Director at Sykes & Company, P.A. on the show. Listen on Spotify: https://open.spotify.com/show/1VStwVBZ5Y7OIy2REiJPFV | |||
| 12 Oct 2022 | The Bottom Line Pharmacy Podcast: Employee Retention Tax Credit for Startup Pharmacies | 00:09:51 | |
Still a hot topic, the Employee Retention Tax Credit (ERTC) remains available retroactively for those who qualify. On this episode of The Bottom Line Pharmacy Podcast, the team (Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) discusses ERTC eligibility for startup pharmacies.
Check out our previous episode on ERTC: https://www.buzzsprout.com/1610128/11202486
Please like and subscribe, and click here to learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/
Listen on Spotify: https://open.spotify.com/show/1VStwVBZ5Y7OIy2REiJPFV | |||
| 08 Nov 2022 | The Bottom Line Pharmacy Podcast: Pharmacy Tax Planning for 2022 | 00:29:07 | |
Purchasing assets is one way to reduce your tax burden. What are depreciable items that move the tax needle for pharmacies? Should you purchase equipment in 2022? What changes to depreciation tax laws are coming in 2023? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® discuss answers to these questions and more. Please like, share and subscribe, and click here to learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/
Listen on Apple: https://podcasts.apple.com/us/podcast/the-bottom-line-pharmacy-podcast-sykes-company-p-a/id1641766864 Listen on iHeart: https://www.iheart.com/podcast/269-the-bottom-line-pharmacy-p-101324930/ | |||
| 21 Nov 2022 | The Bottom Line Podcast: Building a Competitive Edge for Your Independent Pharmacy | 00:42:26 | |
How can an independent pharmacy build a competitive edge in the market by becoming the recommended pharmacy for health care professionals? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, and Scotty Sykes, CPA, CFP® are excited to hear Nicolette Mathey, PharmD, RPh share proven methods to create relationships with doctors and offer services outside of filling prescriptions. Please like, share and subscribe, and click here to learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/
Listen on Apple: https://podcasts.apple.com/us/podcast/the-bottom-line-pharmacy-podcast-sykes-company-p-a/id1641766864 Listen on iHeart: https://www.iheart.com/podcast/269-the-bottom-line-pharmacy-p-101324930/ | |||
| 15 Dec 2022 | Is Your Front End an Asset or Liability? | 00:22:36 | |
If your pharmacy’s front end is dusty and lacks that modern touch, how does customer perception affect sales? Hear what BIOLYTE®* head of pharmacy Kris Rhea says about sprucing up your front end. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ *BIOLYTE® is not a client of Sykes & Company, P.A. and no employees of Sykes & Company, P.A. were compensated to talk about this product. This podcast is for educational and entertainment purposes only. | |||
| 19 Dec 2022 | ERTC for Pharmacies Due Diligence | 00:28:50 | |
Have you done your due diligence to ensure that you qualify for the ERTC? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) discuss the complexities of the ERTC and regulatory guidelines that may help you decide if your pharmacy qualifies for the ERTC. | |||
| 03 Jan 2023 | Becoming a Pharmacist that Dispenses Healthy Solutions | 00:44:42 | |
Are you dispensing prescriptions or healthy solutions? Now more than ever, independent pharmacies must continue to carve out their niche by offering services that add value to their patients. On this episode of The Bottom Line Pharmacy Podcast, the team (Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) welcome T.W. Taylor, from Williamsburg Drug Company, to discuss how he has taken steps to reinvent his retail pharmacy as a community wellness center where he is able to offer diversified health services for his patients.
This episode is for educational purposes only and is not intended as medical or health advice. This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor were any vendors compensated for being on the show. | |||
| 16 Jan 2023 | Can a Perpetual Inventory System Fix My Inventory? | 00:47:56 | |
Pharmacy owners have misreported inventory by millions of dollars, says Scotty Sykes, CPA, CFP®. Jared Barton of Inventory iQ tells us how we can rectify the situation by putting the time and effort into the foundation of a perpetual inventory system. Hear how you can add this to your pharmacy and fix your inventory, on the latest The Bottom Line Pharmacy Podcast. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 30 Jan 2023 | Love in a Bottle: Startup pharmacy excels at community relations and employee appreciation | 00:39:31 | |
Startup pharmacy success: our team talks to the owner of The Pharmacy startup in Florence, South Carolina, Jarrod Tippins, PharmD. After only six years, The Pharmacy has experienced great success. What are some contributing factors to Jarrod’s success? And what is “love in a bottle?” Tune in to learn more. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 30 Jan 2023 | Town Hall: January 24, 2023 | 00:58:04 | |
In this special live town hall, we take questions on the air and provide important updates for independent pharmacies on ERTC, inventory management, DIR Fees, Secure Act 2.0 and other listener concerns. To view the slideshow, visit our YouTube channel - https://youtu.be/Hv6oHCEqwI0
About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 13 Feb 2023 | This is why you don't "fill and pray" | 00:37:25 | |
Do not let your pharmacy’s accounts receivables sit on the backburner; do not just "fill and pray." Learn how to automate your account reconciliation and get paid sooner, with special guest EnlivenHealth on the latest episode of The Bottom Line Pharmacy Podcast. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ *This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor were any vendors compensated for being on the show.
| |||
| 28 Feb 2023 | New Inventory Rules Impacting Pharmacies | 00:16:08 | |
Have you been writing off inventory on your pharmacy’s taxes? The IRS has issued new inventory rules for 2022 taxes and beyond – don’t miss this discussion! | |||
| 14 Mar 2023 | DIR Fee Apocalypse - The Bottom Line for 2024 | 00:18:30 | |
Know your current burn rate with DIR fees in 2023 so you can be prepared for the upcoming DIR fee changes in 2024. Create your plan for DIR fees taken at the point of sale. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ T.W. Taylor episode referenced: https://www.sykes-cpa.com/becoming-a-pharmacy-that-dispenses-healthy-solutions-the-bottom-line-pharmacy-podcast/
| |||
| 30 Mar 2023 | Sad Realities of “Philmore Scripts” Minimizing DIR Fees | 00:52:09 | |
Filling more scripts doesn’t always mean more profit, especially now with upcoming changes to DIR fees and PBM contracts. Navigate the future world of DIR fees for your pharmacy on this episode featuring DIR consultant Ben Jolley, PharmD at Jolley’s Compounding Pharmacy in Utah. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 13 Apr 2023 | Pharmacy Lending: The Inside Scoop | 00:34:57 | |
What’s the inside scoop on bank loans for pharmacies; how can they help you expand your offerings to meet the demands of the future? And, what is the best way to apply for a loan? Greco De Valencia from Live Oak Bank shares his knowledge of pharmacy lending for this episode of The Bottom Line Pharmacy Podcast. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 27 Apr 2023 | Pharmacy Buyer's Guide: Buying a Pharmacy in a Stock Purchase | 00:32:43 | |
It is essential to protect the buyer during a stock purchase. Why? And, what is the difference between an asset purchase and a stock purchase? Jeffrey S. Baird, Esq., an attorney, and head of the healthcare group for Brown & Fortunato, P.C. takes us behind the curtain on the latest episode of The Bottom Line Pharmacy Podcast. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 11 May 2023 | Marketing for Independent Pharmacies with Gabe Trahan | 00:22:54 | |
Successful marketing for your independent pharmacy requires a handful of things: you need the right budget, a compelling message and you have to be willing to crank up that curb appeal. Tune in to the latest episode of The Bottom Line Pharmacy Podcast with special guest marketing consultant and former senior director of store operations and marketing for NCPA, Gabe Trahan. Hear his tips for sending the right message to the right audience, and why nine is the magic number of words you should use on a digital sign. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 25 May 2023 | Pharmacy Lending for Start-Ups and Expansions | 00:29:30 | |
The dream is possible with the right lender and a pharmacy CPA advisor. Our special guest with the pharmacy lending division of First Financial Bank, Drew Hagi, talks about interest rates, expansion loans and why you should diversify your services to bring in more cash. About Sykes & Company, P.A. - https://www.sykes-cpa.com/ | |||
| 07 Jun 2023 | Unleash Profitability: Recover Lost Profit from Net Negative Prescriptions | 00:29:56 | |
In this episode of The Bottom Line Pharmacy Podcast, join us as we sit down with Arica Collins, PharmD, and Founder of RetailMyMeds.com, to delve into her industry innovation that empowers independent pharmacies. Discover how Arica's groundbreaking solution effectively utilizes a dashboard to outsource prescriptions, tackles profitability challenges in independent pharmacies, and explore the significance of this innovation in light of impending DIR fees in 2024. | |||
| 11 Jul 2023 | The Drug Supply Chain Security Act & Its Implications For Pharmacies | 00:30:39 | |
In this episode of The Bottom Line Pharmacy Podcast, join us as we sit down with Joshua Potter from PRS Consulting to discuss the Drug Supply Chain Security Act and its implications for independent pharmacies. Uncover the critical aspects of the DSCSA and its impact on pharmacies in this eye-opening video. Gain insights into the regulatory requirements, traceability standards, and technology solutions that pharmacies are adopting to comply with this transformative legislation. | |||
| 18 Jul 2023 | Pharmacy Advocacy: Going Beyond Patient Care for Your Community | 00:33:49 | |
Join us in this engaging discussion as we delve into the world of pharmacy advocacy and its impact on communities.
In this episode of The Bottom Line Pharmacy Podcast, we discuss the NCPA fly-in event, where independent pharmacy owners from across the nation gather in Washington, DC to advocate for independent pharmacies. Discover how these passionate professionals go above and beyond patient care, becoming advocates for their communities by addressing issues such as DIR fees with Fred’s Pharmacy owner Cole Sandlin, PharmD. Stay informed, be inspired, and learn how you can make a difference in your own community. | |||
| 01 Aug 2023 | Understanding 340B Contracts and Maximizing Your Pharmacy’s Benefits | 00:25:25 | |
In this episode of the Bottom Line Pharmacy Podcast delve into the world of 340B contracts with us and Amanda Gaddy from Secure340B. Discover the importance of transparency, knowing your numbers, and leveraging data-driven insights to determine the true impact of 340B programs on your pharmacy's financial health. Don't miss this informative conversation that can help you make a difference in your community while thriving as an independent pharmacy. | |||
| 17 Aug 2023 | Let’s Chat- Tradeshow season, DIR fees, ERTC and MORE! | 00:23:13 | |
Join us as we share our experiences from recent tradeshows and dive into trending pharmacy topics. From DIR fees and ERTC updates to revenue diversification and cash flow management, we discuss real-world challenges and innovative solutions that pharmacy owners need to know. SYKES SOCIAL — Bonnie’s Twitter: https://twitter.com/BonnieEvansBond | |||
| 31 Aug 2023 | Let’s Chat pt.2: RBC Cardinal Health, ThoughtSpot 2023, DIR Fees, and ERTC | 00:27:24 | |
In this episode of the Bottom Line Pharmacy Podcast, our hosts Scotty, Kendell, and Bonnie take you on a journey through the final leg of their tradeshow travels. Join them as they recount their experiences at Cardinal RBC in Boston, #ThoughSpot Amerisource 2023 in Vegas, travel bloopers, DIR fees, and insights into cash flow control. SYKES SOCIAL — Bonnie’s Twitter: https://twitter.com/BonnieEvansBond | |||
| 13 Sep 2023 | Elevating Patient Care through 340B Partnerships ft. Eric Fromhart | 00:34:19 | |
In this episode of The Bottom Line Pharmacy Podcast, hosts Scotty, Bonnie, and Kendell dive deep into the world of 340B with special guest Eric Fromhart from Aventi Health. Get the facts about 340B, covered entities, and independent pharmacies in this informative discussion and discover how Aventi Health is empowering independent pharmacies in the 340B program, ensuring their success, and changing the game for pharmacists everywhere. Please like and subscribe and click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ SYKES SOCIAL — Bonnie’s Twitter: https://twitter.com/BonnieEvansBond
| |||
| 27 Sep 2023 | From Startup to Success: The Pharmacy of Shannon Hills Story | 00:35:49 | |
Join us for an inspiring conversation with Allie and Callie, owners of The Pharmacy of Shannon Hills in Arkansas, as they share their incredible journey from pharmacy school to a successful independent pharmacy startup. Discover their do's and don'ts, the challenges they've overcome, and the importance of community engagement. Plus, learn how they've turned their pharmacy into a local healthcare hub. Please like and subscribe and click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ SYKES SOCIAL — Bonnie’s Twitter: https://twitter.com/BonnieEvansBond | |||
| 11 Oct 2023 | The Intersection of DIR Fees and Open Enrollment for Independent Pharmacies | 00:27:23 | |
In this episode of Sykes The Bottom Line Pharmacy Podcast, Marvin Guardado, Senior Manager of Customer Enablement at Enliven Health, dives deep into the world of DIR fees and the DIR fee hangover. Discover how open enrollment can impact independent pharmacies and how they can maximize profitability while ensuring the best care for their patients. Please like and subscribe and click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ SYKES SOCIAL — Bonnie’s Twitter: https://twitter.com/BonnieEvansBond | |||
| 27 Oct 2023 | Understanding the IRS's Freeze on Employee Retention Credit - Bottom Line Pharmacy Podcast Update | 00:18:14 | |
In this episode of the Sykes the Bottom Line Pharmacy Podcast, we dive into the recent developments concerning the Employee Retention Credit (ERC). Stay Connected With Us: Bonnie’s Twitter: https://twitter.com/BonnieEvansBond | |||
| 09 Nov 2023 | Trends in Independent Pharmacy Ownership - Live from NCPA 2023 | 00:16:39 | |
Are you looking to stay up to date on the latest trends in independent pharmacy ownership? Sit down with Kendell Harris, Bonnie Bond, and Scotty Sykes as they cover new developments in pharmacy ownership from adding revenue streams with services like long term care at home to minimizing DIR fees and more! Want to stay connected? Check out our social media: Sykes & Company P.A.: Facebook: https://www.facebook.com/sykesandco CPA’s: Scotty Sykes – CPA, CFP LinkedIn: https://www.linkedin.com/in/scottysykes/ | |||
| 23 Nov 2023 | The Business of Compounding and Live at the PCCA Conference Featuring Bryan Prescott | 00:45:55 | |
Are you looking for ways to diversify your pharmacy's revenue streams and get around high DIR fees? In this episode of the Sykes Bottom Line Pharmacy Podcast, we dive deep into the world of compounding by bringing you a two-episode mashup that features our conversation with Bryan Prescott, the Director of Business Coaching for the PCCA and live footage from the PCCA international seminar! We talk about key metrics to pay attention to in your compounding pharmacy, diversifying your revenue sources, some of the advantages to owning a compounding pharmacy, section 174 updates, and more! Join the discussion with us to learn about the business of compounding. Want to stay connected? Check out all our social media: Sykes & Company P.A.: Facebook: https://www.facebook.com/sykesandco CPA’s: Scotty Sykes – CPA, CFP LinkedIn: https://www.linkedin.com/in/scottysykes/ | |||
| 07 Dec 2023 | Making Data Work for Your Pharmacy Featuring Nicolette Mathey | 00:52:53 | |
Have you explored the potential of what sales and marketing can do for your pharmacy? | |||
| 21 Dec 2023 | Improving Cash Flow with Long-Term Care at Home featuring Paul Shelton | 00:28:06 | |
How can you diversify your revenue sources in your pharmacy? What is long-term care at home? How can you improve cash flow in your pharmacy? The reality is, to succeed today as an independent pharmacy, you have to diversify your sources of revenue, especially with DIR fees as high as they are. Incorporating long-term care at home is one of the best ways to diversify your revenue. In this episode of the Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Paul Shelton, President of PharmaComplete to discuss the benefits of long-term care at home, how LTC@H can improve cash flow, combo shops, and more! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Stay connected with us on all of our social media: Facebook: https://www.facebook.com/sykesandco
| |||
| 22 Dec 2023 | Year-End Update: DIR Fees, PTE Tax, and Christmas! | 00:47:38 | |
Merry Christmas from Sykes & Company, P.A.! With the New Year almost here, we want to say thank you for your service and all that you do for your community. Our Christmas gift to you is a bonus year-end update episode! On this episode of the Bottom Line Pharmacy Podcast, we’re giving you updates on 2024 DIR fees, PTE Tax, big box chain closures, inflation, Scotty's ugly Christmas shirt, and more! Want to stay connected with us? Check out all of our social media: Sykes & Company, P.A.: Facebook: https://www.facebook.com/sykesandco CPA’s: Scotty Sykes – CPA, CFP LinkedIn: https://www.linkedin.com/in/scottysykes/ Scotty Sykes – CPA, CFP Twitter: https://twitter.com/ScottySykesCPA Bonnie Bond – CPA LinkedIn: https://www.linkedin.com/in/bonnieevansbond/ Bonnie Bond – CPA Twitter: https://twitter.com/BonnieEvansBond Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ | |||
| 04 Jan 2024 | Keeping Your Pharmacy Insured Featuring Steve Boone | 00:52:01 | |
Many pharmacy owners have never explored their insurance options and as a result, are likely overpaying. Only recently have other options become available for pharmacy owners, and these options could result in saving $15,000. In this episode of The Bottom Line Pharmacy Podcast, we sit down with (tag) Steve Boone, Agent with Heartland Insurance Group to discuss how to keep your premiums low, what insurance options are available for delivery, case studies on how much you could save, and more! Learn more about Steve Boone and Heartland Insurance below: Steve Boone LinkedIn Want to stay connected? Check out all of our social media: Sykes & Company, P.A.: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Thanks for listening! | |||
| 25 Jan 2024 | Going the Extra Mile with Long-Term Care with Debbie Marcello | 00:26:10 | |
In today's independent pharmacy landscape, it’s crucial that you go beyond filling scripts. Your pharmacy must become the healthcare hub of your community. One of the best ways your pharmacy can become the healthcare hub is through community-based services such as at home care! This helps your pharmacy stay proactive to what the community needs and keeps cash-flow positive. In today’s episode of The Bottom Line Pharmacy Podcast, we take you beyond prescriptions and sit down with Debbie Marcello to discuss Happier at Home, cash-based revenue sources, and more! If you want to read and follow along, click here for the transcript (transcript link) More about our guest: Debbie Marcello, RN is a Registered Nurse and the CEO of Happier at Home a home health service that has flipped the script on the traditional home health care model by putting clients at the forefront and simultaneously giving independent pharmacies options to diversify revenue, elevate patient care, and ultimately become the healthcare hub of their community. Want to learn more about Debbie Marcello and Happier at Home? Click the links below: Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Want to stay connected? Check out all of our social media: Sykes & Company P.A.: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Want to read more on diversifying revenue and similar topics? Click below for more resources: | |||
| 17 Jan 2024 | Urgent Update: Understanding FinCEN Reporting with Scott Burnett | 00:38:51 | |
Are you aware of the new FinCEN guidelines for Beneficial Ownership Reporting? If not, you should be! Independent pharmacies are right in the crosshairs of the new guidelines, and we want to keep you protected. On this special episode of The Bottom Line Pharmacy Podcast, we sit down with Scott Burnett from Burnett & Associates to discuss beneficial ownership reporting, why it matters, and more! Want to read and follow along? Click here for the transcript More about our guest: Interested in learning more about FinCEN, and corporate minutes & resolutions and Burnett & Associates? Click the links below to learn more: Burnett & Associates Website Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Want to stay connected? Check out all of our social media: Sykes & Company P.A. Social: Follow the CPA's on LinkedIn: More resources on this topic: FinCEN BOI | |||
| 01 Feb 2024 | Embracing Long-term Care at Home Pharmacy Ownership with Lindsay Dymowski - Constantino | 00:38:30 | |
The supply of beds at skilled nursing facilities has dropped dramatically which has increased the demand for long-term care at home services. This has created a lot of opportunities for independent pharmacies to offer a higher level of service to their community and get paid fairly for doing so! In this episode of The Bottom Line Pharmacy Podcast, we sit down with Lindsay – Dymowski Constantino to discuss embracing long-term care at home pharmacy ownership, why you’re probably already servicing long-term care patients already, The Long-term Care at Home Pharmacy Network, and more! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Want to read and follow along with this episode? Click below for the transcript: Who is Lindsay Dymowski – Constantino? Linday – Dymowski Constantino comes to us with over 2 decades of independent pharmacy experience both working behind the bench and volunteering. She is the Cofounder and President of the Long-Term Care at Home Network a centralized hub for all things long-term care at home. They provide independent retail pharmacies with tools and resources such as billing procedures, identification tools, compliance documentation, and more! Want to learn more about Lindsay and the Long-Term Care at Home Network? Click the links below: Long-term Care at Home Pharmacy Network Website Long-term Care at Home Pharmacy Network LinkedIn Long-term Care at Home Pharmacy Network Facebook Long-term Care at Home Pharmacy Network YouTube Long-term Care at Home Pharmacy Network Twitter (X) Long-term Care at Home Pharmacy Network Instagram
Want to stay connected with us? Check out all of our social media: Sykes & Company P.A.: CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: | |||
| 15 Feb 2024 | Maximizing Your Online Presence With Mandy Mahoney | 00:34:26 | |
If you’re thinking about expanding into compounding pharmacy services, you do NOT want to miss this episode.
More about our guest:
Sykes & Company P.A.:
CPA’s:
More resources about this topic: | |||
| 22 Feb 2024 | ERTC Update: Incorrect Claims, New Tax Bill, and More! | 00:24:17 | |
The IRS continues to crack down on incorrect ERTC claims and recently released an update shining a light on 7 warning signs of incorrect claims.
Facebook CPA’s:
More resources about this topic: ERTC Due diligence: https://www.sykes-cpa.com/ertc-due-diligence-the-bottom-line-pharmacy-podcast/
| |||
| 08 Mar 2024 | The Complex World of Pharmacy Reimbursement and Negotiation Strategies With Frier Levitt | 00:40:04 | |
The sunsetting of DIR fees has brought about several changes to the percentages that payers have made up for different pharmacies. In some cases, you have the same payer and the same drug reimbursement with different rates at different times for different patients. On this special bonus episode of The Bottom Line Pharmacy Podcast, we sit down with Jesse C. Dresser, Esq. and Steven L. Bennet, Esq. with Frier Levitt to make sense of everything related to pharmacy reimbursement rates, negotiation strategies, understanding contracts with your PBMs, and more! Want to read and follow along with this episode? Click below for the transcript: https://www.sykes-cpa.com/the-bottom-line-pharmacy-podcast-the-complex-world-of-pharmacy-reimbursement-rates-and-negotiation-strategies-with-frier-levitt-attorneys-at-law/ More About Our Guests: Established in 2000, Frier Levitt is a national boutique law firm focused exclusively on Healthcare and Life Sciences including community retail pharmacies, chain pharmacies, compounding pharmacies, specialty pharmacies, mail order pharmacies, home infusion providers, and dispensing physician practices nationally on issues with payors and Pharmacy Benefit Managers (PBMs), including PBM audit appeals, network terminations, network access and credentialing applications, and reimbursement issues. Want to learn more about Frier Levitt? Check out their links below: Frier Levitt Twitter (X)
CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: Article - PBM Rate Reimbursements: https://www.sykes-cpa.com/states-gain-power-to-regulate-pbm-rate-reimbursements-supporting-independent-pharmacies/ Video Blog - Reimbursement Trends and Tools: https://www.sykes-cpa.com/reimbursement-trends-and-tools-available-to-independent-pharmacies/ Article – Top Legal Issues Impacting Your Pharmacy: https://www.sykes-cpa.com/top-legal-issues-impacting-your-pharmacy/ | |||
| 29 Feb 2024 | Practicing to the Fullest Extent of Your License With Ashley Moose | 00:30:28 | |
As independent pharmacy continues to evolve, it's more important now than ever to diversify your services and be the healthcare hub of your community. On this episode of The Bottom Line Pharmacy Podcast, we sit down with Ashley Moose from Moose Pharmacy and CPESN to discuss clinical services such as long-term care, pharmacy integrated networks, cash-based revenue opportunities, and more! Want to read and follow along with this episode? Click here for the transcript: https://www.sykes-cpa.com/practicing-to-the-fullest-extent-of-your-license-featuring-ashley-moose/ More About Our Guest: CPESN is America’s first clinically integrated network pharmacy providers for services that exceed filling prescriptions including long-term care, physiatry collaborative, medical billing, and more! Ashley Moose received her bachelor’s degree from the University of Kentucky and her Doctor of Pharmacy degree from Campbell University. She completed a Community Pharmacy Residency and a Postgraduate Year 2 Community Pharmacy Residency with the University of North Carolina Eshelman School of Pharmacy and Moose Pharmacy. During her career, she has worked tirelessly to advance the practice of independent community pharmacists and help educate young pharmacists. Ashley is the Pharmacy Manager/Co-Owner at Moose Pharmacy of Monroe and is co-owner of Moose Pharmacy of Mount Holly. She also serves as the Director of Network Development for CPESN USA. She works directly with community pharmacists to develop and launch clinically integrated networks of high-performing community-based pharmacies. Want to learn more about Ashley Moose and CPESN? Click their links below: Want to stay connected with us? Check out all of our social media: Facebook Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Article – 5 Ways to Diversify Services in Your Pharmacy Podcast – Embracing Long-term Care at Home Pharmacy Ownership: Podcast – Improving Bottom Line and Cash Flow with Long-term Care at Home Pharmacy | |||
| 28 Mar 2024 | Transforming Your Pharmacy: Supplements, Strip Packaging, and PBM Reform Featuring Bill Holmes and Matt Gilbert from RxSafe | 00:36:47 | |
One of biggest pain points pharmacists face is patients taking their medications regularly. On this episode of The Bottom Line Pharmacy Podcast, we sit down with William Holmes, the Founder of RxSafe and Matt Gilbert, the VP of Business Transformation and Major Accounts with RxSafe to discuss opportunities with LTC, supplements, PBM reform, and more! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Want to read and follow along with this episode? Click here for the transcript. More about our guest: Bill Holmes is the Founder of RxSafe, an automation company that provides innovative technology solutions designed to accelerate your pharmacy's success. Matt Gilbert is the VP of Business Transformation and Major Accounts, a program that works hand in hand with pharmacies to capture more opportunity to expand their revenue through long-term care, supplements, and filling needs within the geographic region of a specific pharmacy. Want to learn more about RxSafe and what they do? Click below to check them out! Want to stay connected? Check out all of our social media: Sykes & Company P.A.: CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: Podcast – LTC at Home with Lindsay Dymowski | |||
| 04 Apr 2024 | Bonus Episode: Appearance on The Catalyst Pharmacy Podcast: Tackle Pharmacy Accounting | 00:50:30 | |
From DIR fees to current PSAO behavior, dive deep into independent pharmacy accounting on this bonus episode featuring Scotty Sykes, CPA, CFP's appearance on The Catalyst Pharmacy Podcast. Want to watch the full episode? Click here. More About the Catalyst Pharmacy Podcast: Presented by PioneerRx, the Catalyst podcast dives into current events that are shaping how pharmacists approach their patients and their business. Hosted by President of PioneerRx Jeff Key with cohosts Josh Howland VP of Clinical Strategy, Mark Bivins VP of Sales, and Marsha Bivins Director of Marketing. Fuel your passion for pharmacy, one conversation at a time. Want to learn more about PioneerRx, the Catalyst Pharmacy Podcast, and what they do? Check out all of their links below: Jeff Key, President of PioneerRx LinkedIn Marsha Bivins Director of Marketing Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Want to stay connected? Check out all our social media: Sykes & Company P.A.:
Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Service – RX Assessment Article – Fundamentals of Pharmacy Accounting Podcast – Minimizing DIR Fees Article – How to Manage DIR Fees
| |||
| 18 Apr 2024 | From Zero to Community Pharmacy Hero With Hashim Zaibak | 00:38:59 | |
While the path to multi-store ownership may look different for everyone, the principles remain the same. From his first location in 2011 to over 20 stores in 2024, Hashim Zaibak’s rule for managing multiple stores has remained the same - “I take care of the people who are going to take care of the people who are going to take care of the customers” On this episode of The Bottom Line Pharmacy Podcast, we sit down with Hashim Zaibak, PharmD, CEO of Hayat Pharmacy and NCPA Ownership Workshop extraordinaire to discuss how to manage multiple stores, the NCPA Ownership Workshop, opportunities pharmacies have with clinical services, being recognized as a provider, and more! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. More about our guest: Dr. Hashim Zaibak, PharmD is the Founder and CEO of Hayat Pharmacy, an independent pharmacy with over 20 locations serving the Milwaukee area. Dr. Zaibak started his career as a pharmacist in 1999 after graduating from the University of Illinois‐Chicago. With over fifteen years of experience, he has seen the industry from multiple vantage points. Dr. Zaibak has over six years of experience as a Clinical Instructor to help train pharmacy students from six pharmacy schools in the Wisconsin and Illinois area (Concordia University, Rosalind Franklin University, University of Wisconsin, University of Illinois, Midwestern University, and MCW School of Pharmacy). As recognition of Hashim’s excellent service to the community, he was named the 2014 Pharmacist of the Year by Pharmacy Development Services and Health Mart’s 2014 Pharmacy of the Year. Want to learn more about Hashim and Hayat Pharmacy? Click below to check them out! Stay connected with us on social media: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter | |||
| 02 May 2024 | Improving Cash Flow with Inventory Management with Jared Barton | 00:27:07 | |
If you saw every bottle or capsule on your shelf as a $100 bill, you might be trying to find ways to get that money into your bank account, especially in the cash flow crunch that pharmacies are facing now. This is exactly what perpetual inventory from Inventory IQ allows you to do. In this episode of The Bottom Line Pharmacy Podcast, we share insights to help you keep cash in your bank, not on your shelf. We dive deep into inventory management, how to improve your cash flow, ways you can control your inventory, and more! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Read and follow along with this episode by clicking here. More about our guest: Jared Barton is the CEO of Inventory IQ and the Secretary of the Board of Pharmacy Marketplace. With 9 years in the independent pharmacy industry and 600+ independent pharmacies served; Inventory IQ is the nation’s premier independent pharmacy inventory management firm. They help pharmacies maximize efficiency through inventory management and assisting with perpetual inventory implementation/maintenance through their monthly Inventory Mining program, and they also provide inventory count services for tax purposes, transitions of ownership, and third-party audits. Want to learn more about Jared Barton, Inventory IQ, and stay connected with them? Check out their social media below:
| |||
| 04 May 2024 | Bonus Episode: Reimbursement Changes, Diversified Revenue, and More! | Special Appearance with the Pharmacy Owners Alliance | 00:09:02 | |
Reimbursement changes have sparked updates to KPIs and financial benchmarks for independent pharmacies. In addition to reimbursement changes we’re also seeing pharmacies find more opportunities to add diversified revenue sources such as long-term care and compounding. On this special bonus episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP sits down with POA Executive Director David Mayper as a featured guest to discuss KPI updates, new financial benchmarks, opportunities for pharmacies, and more! Did you like this episode? Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. More about David Mayper: David Mayper is the Executive Director for the Pharmacy Owners Alliance with more than 30 years of pharmaceutical supplier and trade association experience. The Pharmacy Owners Alliance is a non-profit organization that includes over 500 member stores including franchisees, former franchisees and independent pharmacies in 36 states whose mission is to preserve, protect, and promote the interests of pharmacy owners. They provide in-depth analysis of each member’s current purchase patterns and offer advice on the best decisions for purchasing and rebates. Want to learn more about David Mayper, The Pharmacy Owners Alliance, and stay connected with them? Check out their social media below: The Pharmacy Owners Alliance Facebook The Pharmacy Owners Alliance LinkedIn The Pharmacy Owners Alliance Website The Pharmacy Owners Alliance YouTube Check out all of our social media: Sykes & Company P.A.: Facebook Scotty Sykes – CPA, CFP LinkedIn More resources about this topic: Podcast – Navigating the Complex World of Pharmacy Reimbursements Podcast – Clinical Services Opportunities for Your Pharmacy Podcast – Cash Flow and Improving Bottom Line for Long-term Care at Home Pharmacies | |||
| 09 May 2024 | Overcoming Challenges with 340B Contracts Featuring Amanda Gaddy | 00:33:11 | |
Data from the NCPA shows that there are over 17,000 health care facilities that are eligible to participate in 340B programs, with many of these facilities being located in rural America. This can give your pharmacy a competitive advantage and make your pharmacy the healthcare hub of your community by providing care to an underserved patient population. But how do you know if this is an area worth exploring? In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Amanda Gaddy, R. Ph. Co – Founder and COO of Secure340B to dive deep into 340B contracts, legislative updates, how DIR fees and the change health care fiasco are affecting contracts, and the impact it can have on your bottom line! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Read and follow along with our transcript by clicking here (insert transcript link) More About Amanda Gaddy and Secure340B: Amanda Gaddy is a pharmacist with over 29 years of experience and the COO & Co-Founder of Secure 340B. Secure340B helps pharmacies navigate the complexities of the 340B landscape and ensure their programs remain efficient and profitable by identifying 340B opportunities in your area, projecting future bottom line outcomes in your pharmacy from 340B contracting, evaluating and restricting any existing programs you may have, and manufacturer price restoration, so your pharmacy can continue to serve your community. Stay connected us: Facebook Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Resource - Explore 340B Opportunities | |||
| 16 May 2024 | Driving Independent Pharmacy Profitability In 2024 With Nicolette Mathey | 00:45:11 | |
The independent pharmacy of today is sitting on lots of data and opportunity to expand into areas of healthcare that can help your pharmacy become the healthcare center in your community. But as a pharmacy owner, how do you know what to do with all the data available to you? In this week's episode of the Bottom Line Pharmacy Podcast, Nicolette Mathey from Atrium24 shares her insights on long-term care, GLP compounding, the double DIR cliff pharmacies are facing, and more! Gain valuable pharmacy accounting advice. Schedule an Rx Assessment Want to read and follow along with this episode? Click here for the transcript. In 2019, Nicolette founded ATRIUM24, initially offering business consulting to pharmacies. Focused on developing software to automate data analytics and launch Dotti, the industry’s first CRM sales system tailored for pharmacies, she sold Palm Harbor Pharmacy to another independent owner in October 2023. With the official launch of Dotti in January 2024, Dr. Mathey continues to innovate, aiding pharmacies in maximizing their data for profitability and growth. Through ATRIUM24 and Dotti, she and her team “connect the dots” for sales and marketing initiatives, empowering pharmacies with cutting-edge tools. Stay connected with Atrium24, Dr. Nicolette Mathey, PharmD, and Sykes & Company, P.A.! Website Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA Twitter Podcast – Making Data Work for Your Pharmacy | |||
| 30 May 2024 | Harnessing the Power of Pharmacy Differentiation Featuring Greco De Valencia and Ripal Patel | 00:38:51 | |
One of the ways many independent pharmacies are differentiating themselves is by implementing prescription discount card programs. | |||
| 06 Jun 2024 | Navigating The Legal Maze of 503B Compounding | 00:28:58 | |
In this episode of The Bottom Line Pharmacy Podcast, we explore the world of 503B and 503A pharmacies! We sit down with Dae Y. Lee, PharmD, Esq., CPBS and Partner at Frier Levitt to discuss the latest regulations, compliance requirements, and best practices for both 503B outsourcing facilities and 503A compounding pharmacies, trends in PBM audits, marketing semiglutides, and more! | |||
| 20 Jun 2024 | The Hidden Cost of Not Automating With Darin Gleason | 00:42:46 | |
With double DIR fees ending, it’s a great time to implement automation in your pharmacy. Whether your goal is to increase script volume or optimize payroll the opportunities that come with automation are fruitful. In this episode of The Bottom Line Pharmacy Podcast, Darin Gleason, National Sales Director for Retail and Chains with ScriptPro joins us to share his insights on:
And more! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. More about our guest: Darin Gleason is the National Sales Director for Retail and Chains with ScriptPro. He has 17 years of experience working with independent pharmacies and automation. In his 17 years of work with independent pharmacies, Darin has seen many changes including changes in Medicare Part D reimbursements, COVID, and DIR fees. ScriptPro is a pharmacy automation system that is built and installed to the custom specs of the pharmacy. Want to learn more about Darin and ScriptPro? Follow them on social media: Want to stay connected? Check out all of our social media: Sykes & Company P.A.: CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Blog - Improving Profitability and Customer Service Levels Through AI | |||
| 11 Jul 2024 | The State of PBM Reform Featuring State Representative Buddy Carter, Georgia 1st District, BPharm | 00:24:13 | |
Schedule an Rx Assessment: https://www.sykes-cpa.com/rx-assessment-service/ PBM reform is getting the most attention it's ever received both from independent and community pharmacies that see the impacts on their reimbursements and with consumers that notice the impacts in their drug costs. In this episode of The Bottom Line Pharmacy Podcast, we sit down with Pharmacist and Georgia State Representative Buddy Carter as he shares updates on where PBM reform stands currently, an outlook on where it’s heading, and more. Join the discussion with us! More about our guest: Earl L. “Buddy” Carter is an experienced businessman, health care professional and faithful public servant. For over 32 years Buddy owned Carter’s Pharmacy, Inc. where South Georgians trusted him with their most valuable assets: their health, lives and families. A committed public servant, Buddy previously served as the Mayor of Pooler, Georgia and in the Georgia General Assembly where he used his business experience to make government more efficient and responsive to the people. Buddy is serving his fifth term in the United States House of Representatives and is a member of the House Energy and Commerce Committee, where he Chairs the Subcommittee on Environment, Manufacturing, and Critical Materials, and the House Budget Committee. A lifelong resident of the First District, Buddy was born and raised in Port Wentworth, Georgia and is a proud graduate of Young Harris College and the University of Georgia where he earned his Bachelor of Science in Pharmacy. Stay up to date on Buddy Carter and the work he’s doing: Representative Buddy Carter Website: https://buddycarter.house.gov/ Representative Buddy Carter Facebook: https://www.facebook.com/CongressmanBuddyCarter/ Representative Buddy Carter Twitter (X): https://x.com/repBuddyCarter Representative Buddy Carter Instagram: https://www.instagram.com/repbuddycarter/ Representative Buddy Carter YouTube: https://www.youtube.com/channel/UCHQm49T6ikD_ioMAt50AwKQ Stay connected with us Sykes & Company P.A.: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: | |||
| 27 Jun 2024 | Getting to the CORE of Your Pharmacy with Scott Pace | 00:51:26 | |
No matter where you are in your ownership journey, it’s always a good idea to go to back to basics. This is exactly what the CORE Program from The National Community Pharmacists Association help you as a pharmacy owner do! In this episode of The Bottom Line Pharmacy Podcast, we sit down with Pharmacy Owner and Lawyer Scott Pace as he dives deep into getting back to the basics in your pharmacy with leadership, marketing, operations and finances as well as some of the innovative things happening in Arkansas pharmacy and more! Register for the CORE Program today Stay up to date on new episodes. Click here to learn more about our podcast team and previous episodes. More about our guest: Scott Pace is a partner at Impact Management Group, a government relations, public affairs, and consulting firm based in Little Rock, Ark. He represents a diverse group of clients with a heavy emphasis on the health care and pharmacy industries. Scott joined IMG after more than 12 years with the Arkansas Pharmacists Association, where he served as both CEO and COO. While at the APA, Scott successfully worked with the legislature to pass scope of practice legislation for pharmacists and on legislation to amend the Arkansas Constitution to require a pharmacist consultant be a part of the Arkansas medical marijuana dispensaries. He also worked with Gov. Asa Hutchinson and the legislature to pass legislation to license and regulate PBMs in Arkansas. Scott was also instrumental in crafting and passing Arkansas Act 900 of 2015, the pharmacy legislation that was subject of the landmark Rutledge v. PCMA case that was decided by the U.S. Supreme Court in December of 2020. Scott is a licensed pharmacist and attorney. He holds a bachelor’s degree in biology from Arkansas State University, a Doctor of Pharmacy from the University of Arkansas for Medical Sciences, and a Juris Doctorate with High Honors from the University of Arkansas at Little Rock William H. Bowen School of Law. Scott and his wife Anne, who is also a pharmacist, own Kavanaugh Pharmacy in the Heights neighborhood of Little Rock, where they live with their two children, Cameron and Carter. Stay connected with Scott Pace: Want to stay connected? Check out all of our social media: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Press Release – Sykes & Company, P.A. Joins NCPA's CORE Program | |||
| 18 Jul 2024 | SERIES: Master The Margin Episode 1: Independent Pharmacy Accounting Fundamentals | 00:07:21 | |
Welcome to the inaugural episode of our newest series Master the Margin with Scotty Sykes, CPA, CFP, and Kathy Blanchard, Senior Pharmacy Accountant This series is all about diving deep into accounting and tax topics for independent pharmacy owners. In this episode, we’re starting with the basics...fundamental accounting. We share insights into:
Implement a fundamental accounting system in your pharmacy, schedule an Rx Assessment Stay connected with us on social media: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources on this topic: Blog – Fundamentals of Pharmacy Accounting Presentation – Fundamentals of Pharmacy Accounting: Navigating 2024 and Beyond | |||
| 25 Jul 2024 | Finishing the Fight: What’s Next for Independent Pharmacy with Doug Hoey, CEO of NCPA | 00:26:41 | |
🎉 It’s episode 50 which means it’s time to celebrate a milestone! 🎉 In this milestone episode, Ollin Sykes, CPA, CMA, CITP and Bonnie Bond, CPA are thrilled to sit down with the esteemed Doug Hoey, CEO of the National Community Pharmacists Association (NCPA). This episode is packed with updates and insights into:
Join the Discussion with Ollin Sykes, Bonnie Bond, and Doug Hoey! Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode by clicking here for the transcript.
More about our guest: Douglas Hoey is the Chief Executive Officer of the National Community Pharmacists Association. NCPA represents the owners of nearly 20,000 pharmacy small businesses who’s pharmacists provide prescription dispensing services and help fill primary care gaps. The majority of these pharmacies are located in areas the CDC ranks as “high” or “very high” on the Socially Vulnerable Index. Consumers consistently rank community pharmacies as the top-rated pharmacies in the country. Hoey is a licensed pharmacist in Oklahoma, Virginia, and Texas and practiced in community pharmacies including his family’s pharmacy before coming to NCPA. He is widely quoted by media as an industry expert on community pharmacy payment and practice issues. Hoey also developed and taught pharmacology courses at George Washington and Marymount universities. He is President of the World Pharmacy Council, co-Chairman of the Board of Directors for Surescripts, Chairman of the NCPA Innovation Center, and co-Chairman of the CPESN-USA Board. Want to learn more about Doug Hoey the NCPA and stay connected with them? Check out their social media below:
Stay connected with us on social media: Sykes & Company P.A.: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: Press Release – Sykes & Company, P.A. Joins NCPA’s CORE Program | |||
| 20 Jul 2024 | Tradeshow Series: Live at McKesson with Nicolette Mathey, PharmD | 00:20:25 | |
In this special episode of our tradeshow series, we come to you from 2024 McKesson IdeaShare! Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant share trends, insights from their talk at the Deep Dive Labs, and we also bring on Nicolette Mathey, PharmD to do a deep dive into the GLP compounding opportunity for independent pharmacies. Stay up to date on new episodes by following our show!
Dr. Nicolette Mathey started her career at Walgreens at age 16 and earned her PharmD from the University of Florida in 2010. After pioneering a successful Bedside Delivery program at BayCare Health Systems, she became the Director of Clinical Services at Pharmacy Development Services. There, she co-developed the Clinical Services Profit Ignitor and played a pivotal role in early data analytics. In 2017, Nicolette acquired Palm Harbor Pharmacy, transforming it from a contracts-only establishment in a Heat Zone to a thriving hub. She revamped its identity, introducing robust digital marketing, a multi-rep sales system, compounding, immunizations, NABP accreditation, Test & Treat, Pharmacogenomic (PGX) Testing, and more. In 2019, Nicolette founded ATRIUM24, initially offering business consulting to pharmacies. Focused on developing software to automate data analytics and launch Dotti, the industry’s first CRM sales system tailored for pharmacies, she sold Palm Harbor Pharmacy to another independent owner in October 2023. With the official launch of Dotti in January 2024, Dr. Mathey continues to innovate, aiding pharmacies in maximizing their data for profitability and growth. Through ATRIUM24 and Dotti, she and her team “connect the dots” for sales and marketing initiatives, empowering pharmacies with cutting-edge tools. Stay connected with us on social media: CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: Blog – The Changing Pharmacy Dynamics: Unveiling New Financial Trends for 2024 Blog – Top 3 Independent Pharmacy Accounting Tips for 2024 SERIES – Master the Margin Episode 1: Independent Pharmacy Accounting Fundamentals | |||
| 01 Aug 2024 | Unpacking Drug Pricing, Integration, and Pharmacy Opportunities with Dared Price | 00:29:41 | |
In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Austin Murray with Sykes & Company are talking about all things PBM related with Dared Price from OreadRx. Join us as we discuss the:
Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Read and follow along with this episode by clicking here Schedule an Rx Assessment More about our guest: Dared Price is the owner of 7 independent community pharmacy locations in South Central Kansas, Graves Drugs and the Damm Pharmacies. He serves on the board of directors for the National Community Pharmacy Association and is the immediate past president of the Kansas Pharmacist Association. Price is also co-owner of Oread Rx, a transparent, pass through pharmacy benefit company. Stay connected with Dared Price and OreadRx: Stay connected with us on social media Sykes & Company P.A.: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Podcast – Navigating Pharmacy Reimbursements and Negotiation Strategies Podcast – Finishing the Fight: What’s Next for Independent Pharmacy | |||
| 08 Aug 2024 | The Prescription for Talent: Finding, Hiring, and Keeping the Best in Pharmacy With Tyler Davis | 00:36:56 | |
Looking to find, hire, and keep the best in your pharmacy? Tune in to this episode of the Bottom Line Pharmacy Podcast with Sykes & Company, P.A.’s very own Director of People Operations, Tyler Davis! This episode dives deep into.:
Tune in to this packed episode with actionable insights and advice to help you build a high-performing pharmacy team! Did you like this episode? Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Click here to read and follow along with transcript More about our guest: Tyler Davis is the Director of People Operations for Sykes & Company, P.A. As the Director of People Operations at Sykes & Company, P.A., Tyler oversees the human resources functions. He is responsible for developing and implementing HR strategies, policies, and programs that align with the company's vision, mission, and goals. Adding to his 10+ years of comprehensive experience in the HR field, Tyler holds a certification in Human Resources Management from Pitt Community College. Tyler’s core competencies include HR service center implementation, team member benefit administration, HR project management, and talent acquisition. Tyler has successfully led and supported multiple HR initiatives and projects that improved the efficiency, effectiveness, and quality of HR services and processes. He has also recruited and trained diverse and talented professionals for various roles and levels within the health and accounting sectors. Tyler is passionate about building and fostering a positive, inclusive, and collaborative work culture that empowers and motivates employees to achieve their full potential. Want to learn more about Tyler Davis and stay connected with them? Check out their social media below: Sykes & Company, P.A. Facebook Sykes & Company, P.A. Twitter (X) Sykes & Company, P.A. LinkedIn Sykes & Company, P.A. Instagram CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources on this topic: | |||
| 09 Aug 2024 | SERIES: Master The Margin Episode 2 | The Balance Sheet: A Snapshot In Time | 00:07:18 | |
The Balance Sheet: A Snapshot in Time in how your pharmacy is financially from an asset, liability, and equity perspective. In this episode of Master The Margin, Scotty Sykes, CPA CFP® and Kathy Blanchard, Senior Pharmacy Accountant build on the foundational principles (fundamental accounting) discussed in their inaugural episode by exploring the balance sheet! Join Scotty Sykes, CPA, CFP®, and Kathy Blanchard, Senior Pharmacy Accountant explore:
Did you like this episode? Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode at the show transcript Stay connected with us on social media: Sykes & Company P.A.: Hosts Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: Podcast – Independent Pharmacy Accounting Fundamentals Blog – Fundamentals of Pharmacy Accounting Presentation – Fundamentals of Pharmacy Accounting: Navigating 2024 and Beyond | |||
| 15 Aug 2024 | Tradeshow Series: Cardinal RBC and ThoughtSpot | 00:16:08 | |
Catch up on the latest in independent pharmacy in this episode of The Bottom Line Pharmacy Podcast where we share our recap of the 2024 tradeshow circuit. We share our experience at McKesson, RBC, and ThoughtSpot. We also talk about the opportunities pharmacies have in areas such as GLP compounding, the buying and selling market, pharmacies starting their own insurance, and more! Join the discussion with us. Did you like this episode? Stay up to date on new episodes by liking and subscribing! Click below to learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Want to stay connected? Check out all of our social media: Sykes & Company P.A.: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Video – GLP Compounding Deep Dive | |||
| 22 Aug 2024 | Exploring Updates in Fraud Waste and Abuse Audits with Brad Howard, Esq. Brown & Fortunato | 00:37:57 | |
Fraud, waste, and abuse audits are becoming more common in the pharmacy industry, and pharmacies need to be prepared to protect themselves. In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes sits down with Brad Howard, Esq. With Brown & Fortunato to discuss:
Stay up to date on new episodes by liking and subscribing to our podcast Want to read and follow along with this episode? Click here for the transcript
More about our guest: Bradley W. Howard is a health care attorney with extensive experience representing pharmacies, durable medical equipment providers, hospitals, and many other health care providers with compliance, enforcement, and litigation matters throughout the country. Brad moved to Brown & Fortunato more than twenty-six years ago from a large Denver firm where he prepared and tried numerous lawsuits and administrative hearings for manufacturers, health care providers, and large companies in a variety of industries. Brad enjoys working with pharmacies and other health care providers on regulatory and contractual compliance matters, payer and PBM audits and appeals, governmental demands and requests, responses to subpoenas and demand letters, and business disputes including litigation. Brad routinely handles health care investigations by the Department of Justice, HHS OIG, various boards of pharmacy, State Attorneys General, the Department of Defense, and other regulators. Brad is also board certified in Labor and Employment Law by the Texas Board of Legal Specialization. In summary, Brad serves as a creative and strategic legal problem solver and is regarded by many clients as their outside General Counsel. Brad grew up in Texas and considers it home, but he works with clients throughout the country in person and on video conferences. Brad graduated from the University of Texas School of Law in 1991 and received his B.A. from Texas Tech University in 1988, graduating summa cum laude. Brad is admitted to practice law in Texas, Colorado, New Mexico, Oklahoma, and Iowa. Brad and his wife, Nicole, have four children and four grandchildren. Brad enjoys running, fly-fishing and most of all spending time with his family. Stay connected with Brad Howard, Esq. and Brown & Fortunato:
CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: | |||
| 05 Sep 2024 | Enhancing Rx Workflow: Maximizing Medsync with Weston Humphreys, COO of Tyson Drugs | 00:38:42 | |
Schedule an Rx Assessment In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Weston Humphreys, COO and Marketing Manager with Tyson Drugs to go in-depth into getting the most out of Medsync, improving pharmacy workflow, and revenue opportunities in their pharmacy. Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Click here to read and follow along with this episode
Stay connected with us on social media: Sykes & Company P.A.: Facebook CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: | |||
| 20 Sep 2024 | SERIES: Master The Margin Episode 3: Fixed Assets 101 | 00:05:52 | |
Fixed Assets...what are they and what are the best practices you need to implement in your pharmacy? In this episode of Master The Margin, Scotty Sykes, CPA, CFP® and Kathy Blanchard, Senior Pharmacy Accountant dive into the essentials of fixed assets. Tune in to learn more about:
Unsure if the assets in your pharmacy are categorized correctly? Is your pharmacy following the best practices when it comes to depreciation schedules? Schedule an Rx Assessment with us to find out! Did you like this episode? Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode at the show transcript Stay connected with us on social media: Sykes & Company P.A.: Hosts Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter
More resources about this topic: Resource – The Changing Pharmacy Dynamics Blog – Tax Smart Depreciation on Pharmacy Buildings and Equipment Blog – Tax Planning for Equipment Investment Using Section 179 | |||
| 19 Sep 2024 | Developing a Weight Loss Program with GLP-1s in your Pharmacy with T.W. Taylor, Owner of Williamsburg Drug Co. | 00:31:23 | |
Compounded GLP-1s is One of the hottest trends in pharmacy right now and one of the best ways you can take advantage of this opportunity is by implementing a weight loss program in your pharmacy! In this episode of The Bottom Line Pharmacy Podcast, T.W. Taylor, Owner and Pharmacist of Williamsburg Drug Co. discusses how to develop a weight loss program with GLP-1s in a pharmacy. He shares insights into:
Join the discussion with us! Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. Want to read and follow along with this episode? Click below for the transcript: https://www.sykes-cpa.com/developing-a-weight-loss-program-with-glp-1s-in-your-pharmacy/ More about our guest: T.W. Taylor, R.Ph., is the Owner of Williamsburg Drug Co. and a visionary and fearless leader in the pharmacy industry with over 41 years of experience. A graduate of Mercer University Southern School of Pharmacy, where he earned his Bachelor of Science in Pharmacy in May 1982, T.W. has a rich history of pharmacy ownership and operations. T.W. is also the Partner & Managing Director of RX3 Compounding Pharmacy and RX Care USA LLC. His career began in the United States Air Force as a Corpsman and Physician Extender with the rank of Sergeant, where he graduated with honors in 1973. Over the years, T.W. has been recognized for his contributions to healthcare and business, winning the 2022 Small Business of the Year award from the Greater Williamsburg Chamber & Tourism Alliance, and Medical Business of the Year. He has received proclamations from the York County Board of Supervisors and letters of appreciation from Senator Warner, Congressman Whitman, and Congressman Luria. Stay connected with T.W. Taylor and Williamsburg Drug Co.: Williamsburg Drug Co. Instagram Williamsburg Drug Co. LinkedIn Stay connected with us on social media: Sykes & Company P.A.: CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources on this topic: | |||
| 03 Oct 2024 | Navigating Pharmacy Chain Closure Cash Flow Challenges Featuring Greco De Valencia Y Sanchez, VP of Pharmacy at Live Oak Bank | 00:43:10 | |
Curious about your cash flow in the midst of chain closures? Schedule an Rx Assessment with us With Walgreens planning to close 25% of its locations over the next 3 years, many independent pharmacies will face significant cash flow challenges from underwater scripts leaving and then coming back to new scripts transferring. In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA join Greco De Valencia Y Sanchez as they explore:
Join the discussion with us! Did you like this episode? Stay up to date on new episodes by liking and subscribing! Want to read and follow along with this episode? Click here for the transcript
Facebook Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: | |||
| 10 Oct 2024 | SERIES: Master The Margin | Pharmacy Leasing 101: Capital Lease vs. Operating Lease | 00:04:05 | |
Capital Lease vs. Operating Lease 101: What’s the difference and how does it impact your pharmacy? In this episode of Master The Margin, Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant take a deep dive into:
Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode at the show transcript. Stay connected with us on social media: Sykes & Company P.A.: YouTube Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Podcast – Master The Margin: Fixed Assets 101 Blog – Tax-smart Depreciation on Pharmacy Buildings and Equipment | |||
| 17 Oct 2024 | Pharmacy Audit Masterclass: Strategies for Audit Success Featuring Trenton Thiede, President of PAAS National | 00:33:28 | |
Navigate pharmacy audits in this masterclass! In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Trenton Thiede, President of PAAS National to discuss all things Pharmacy Audits including:
Join the discussion with us! Stay up to date on new episodes by liking and subscribing Want to read and follow along with this episode? Click here for the transcript: More about our guest: Trenton Thiede is the President of PAAS National (Pharmacy Audit Assistance Service). Trenton started his journey working at Shopko, a community pharmacy, in 1999 for15 years, holding positions as Pharmacy Manager and Regional Pharmacy Supervisor while completing his PharmD from UW-Madison and MBA from UW-Oshkosh. In 2013, Trenton took over Shopko’s Long-Term Care division and helped divest it to KPH HealthCare (Kinney Drugs/HealthDirect). There, he helped grow their business throughout the Midwest, eventually servicing 20,000 beds in just under four years. In 2018, Trenton joined PAAS and oversees the daily operations as President. With his operations experience, Trent knows what’s involved, and at stake, with pharmacy audits; taking pride in helping independent pharmacies win against ruthless PBMs. Learn more about Trenton and PAAS National: Stay up to date on new episodes by liking and subscribing! Stay connected with us on social media: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources on this topic: | |||
| 23 Oct 2024 | SERIES: Master The Margin Episode 5 | Tax Reform Update: 2025 Changes to the Tax Cuts and Jobs Act | 00:13:46 | |
In 2017, the first major tax reform in over 30 years passed and it had a tremendous impact on independent pharmacies. Now, with the 2024 election right around the corner, many of these items could see a change! In this episode of Master The Margin, we're taking a step back from exploring the Balance Sheet and diving into an urgent update on the Tax Cuts and Jobs Act. Scotty Sykes goes over:
Did you like this episode? Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode at the show transcript Stay connected with us on social media: YouTube Scotty Sykes – CPA, CFP Twitter More resources on this topic: Webinar - Tax Cuts and Jobs Act of 2017: Pharmacy Impact and §199A Blog – Tax-smart Depreciation on Pharmacy Buildings and Equipment Blog – Maximize Pharmacy State and Local Tax Deductions (SALT) | |||
| 25 Oct 2024 | Pharmacy Automation Inside Out: Cost-Control and Tax Strategies With Darin Gleason, ScriptPro | 00:30:30 | |
Questions about robotics and tax planning? Don’t miss this episode of The Bottom Line Pharmacy Podcast! Join Scotty Sykes, CPA, CFP and Bonnie Bond, CPA as they sit down with Darin Gleason, National Sales Director for Retail Pharmacies at ScriptPro to discuss:
Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode at the show transcript: More about our guest: Darin Gleason is the National Sales Director for Retail and Chains with ScriptPro. He has 17 years of experience working with independent pharmacies and automation. In his 17 years of work with independent pharmacies, Darin has seen many changes including changes in Medicare Part D reimbursements, COVID, and DIR fees. ScriptPro is a pharmacy automation system that is built and installed to the custom specs of the pharmacy. Follow Darin Gleason and ScriptPro: Darin Gleason LinkedIn
Sykes & Company, P.A. Facebook Sykes & Company, P.A. LinkedIn Sykes & Company, P.A. Instagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Podcast – The Hidden Cost of Not Automating Blog - Improving Profitability and Customer Service Levels Through AI | |||