The Bottom Line Pharmacy Podcast is your regular dose of pharmacy CPA advice to fuel your bottom line, featuring pharmacists, key vendors and other innovators. Stay tuned for future podcasts airing soon wherever you subscribe to podcasts.
Send us a textSchedule an Rx AssessmentSubscribe to Master The MarginThe tax landscape is shifting for pharmacies...Are you ready to adapt?In this bonus episode of The Bottom Line Pharmacy Podcast, we bring you fresh insights from the trade show at Connect2025 from RedSail Technologies.Scotty Sykes, CPA, CFP® and Kathy Blanchard, Senior Pharmacy Accountant deliver a boots-on-the-ground recap of the Connect2025 Conference, diving into their CE session.Financial and Regulatory DevelopmentsNavigating 340B Accounting ComplexitiesCritical changes to Tax Law and Accounting StandardsAll of that and more in this episode. Stay connected with us:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter More Resources on these Topics:Podcast – The One Big, Beautiful BillPodcast – Driving Independent Pharmacy Profitability in 2025
Send us a textCheck out the full episode with bonus insightsSchedule an Rx AssessmentMulti-store owners: Are running payroll through all of your locations? This episode is a must listen...In this episode of Master the Margin, Scotty Sykes, CPA, CFP® and Kathy Blanchard, Senior Pharmacy Accountant, dive into the nuances of common paymaster status and why it's often misunderstood in multi-store pharmacy operations. They break down: - What a common paymaster is—and how it (theoretically) benefits employers - Why most multi-store pharmacy owners don't qualify, despite good intentions - The payroll risks of misclassifying employees across entities - The role of controlled group rules in IRS compliance - How common ownership impacts payroll, 401(k)s, benefits, and more Stay connected with us on social media:FacebookTwitterLinkedInInstagramSpotifyApple PodcastsScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources about this topic:Podcast - One Big, Beautiful Bill: What the New Tax Proposal Means for PharmaciesPodcast - The Multi Store Owners Guide to Selling Your Pharmacy
Send us a textSchedule an Rx AssessmentSubscribe to Master The MarginCyberattacks targeting healthcare are rising, with pharmacies increasingly in the crosshairs. From ransomware to phishing scams, the threats are real...and constant.But how can independent pharmacies defend themselves against a digital siege?In this episode of The Bottom Line Pharmacy Podcast we have 3 people of the Sykes & Company team, Scotty Sykes, CPA, CFP®, Chris Sykes, IT Director, and Austin Murray, Marketing Director explore the evolving cybersecurity landscape with a practical lens. This episode covers:The NIST 2.0 Cyber Security FrameworkWhat to ask your script system vendor about securityHow to build a breach response plan that actually worksSocial engineering 101: What is it and how to protect your pharmacyBest practices for employee training, access control, and device auditsMore About Our Guest:Chris Sykes is the Director of IT at Sykes & Company, P.A., where he has been a key part of the team since 2006. With nearly 25 years in the IT industry, Chris combines deep technical expertise with a passion for helping both the firm and its clients become more efficient, secure, and technology-driven. Chris holds a Bachelor of Science in Business Administration with a concentration in Management Information Systems and a Master of Science in Technology Systems, both from East Carolina University. Outside of work, Chris enjoys running marathons, fishing and hunting with his boys, and spending quality time with his family at the beach.Learn more about Chris:Chris Sykes LinkedInCheck out all our social media:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources on this topic:Podcast - AI, Audits, & Advocacy: The Pharmacy Survival Guide with Trenton TheideBlog - Technology, Security and Your PharmacyBlog - Protect You and Your Pharmacy: The Growing Threat of RansomwareBlog - Backing Up Your Business DataBlog - Spot a Hacked Email or Bad WebsiteBlog - Protect Your Pharmacy Data from Hackers
Send us a textSchedule an Rx AssessmentSubscribe to Master The MarginAccording to the Centers for Disease Control and Prevention (CDC), diabetes is about 17% more prevalent in rural areas than urban ones. With rural communities often facing barriers to accessing healthcare, including limited specialists and transportation. But what if there was a way to increase rural patient access to specialists? In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP® and Bonnie Bond, CPA talk with Leanna Schwend, PharmD, DCES, owner of Yellowstone Pharmacy in Montana and founder of SugarBEAT for a powerful conversation on turning personal adversity into clinical innovation.After being diagnosed with type 1 diabetes just before graduating pharmacy school, Leanna's career trajectory transformed leading her to create one of the only certified diabetes education programs in a Montana retail pharmacy.Now, she's helping patients and other pharmacy owners bridge gaps in diabetes care, education, and revenue generation.This episode explores:The story behind Leanna's diagnosis and how it changed her missionBuilding and sustaining a certified diabetes education programCreating a digital support platform for patients, caregivers, and pre-diagnosis educationRevenue options: cash-based models vs. accredited servicesAnd more!More About Our Guest:Leanna Schwend is PharmD and independent pharmacy owner who is passionate about Health and Wellness beyond the prescription. Her expertise is in value-added clinical services and leadership with special interests in Diabetes Education, Pharmacogenomics, Nutrigenomics, the Endocannabinoid system, Mental Health, and so much more! Leanna graduated with a Doctor of Pharmacy of degree from the University of Montana Skaggs School of Pharmacy in 2011. She then stepped into the role of Pharmacist in Charge and manager of her family pharmacy, Yellowstone Pharmacy of Forsyth, and became CEO/Owner in 2022.She has successfully implemented an accredited diabetes education program through the American Association of Diabetes Care and Education Specialists, immunizations, medication synchronization, medication therapy management, and pharmacogenomics testing and consulting.She is a Diabetes Care and Education Specialist, holds a certification in Pharmacogenomics, and is a Montana Pharmacy Association Board of Directors.When Leanna turned 25, she was diagnosed with Type 1 diabetes. Through her own personal experiences and knowledge of living with diabetes, she is committed and devoted to educating individuals that they can do more than survive…they can THRIVE! In 2023, Leanna founded SugarBEAT Enterprise, in which she and her teammates aim to deliver a top-notch digital diabetes education solution that will empower individuals on their wellness journey.Learn more about Leanna and SugarBEAT:Leanna Schwend, PharmD, DCES LinkedInSugarBEAT WebsiteSugarBEAT FacebookSugarBEAT InstagramSugarBEAT LinkedInMore resources on this topic:Podcast - Driving Independent Pharmacy Profitability in 2025
Send us a textCheck out the full episode with bonus insightsSchedule an Rx Assessment
Send us a textSchedule an Rx AssessmentCan Culture Make or Break Your Pharmacy?In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP® and Bonnie Bond, CPA sit down with Chris Cornelison, CEO of Solutions Rx, Best-Selling Author of the Book 'Super Culture' and Keynote Speaker to explore the one competitive advantage every pharmacy owner can fully control: Culture.This episodes discusses:Creating clarity and direction through written goalsNavigating accountability and removing bad apples the right wayPraising what you want repeated and building a sustainable cultureThe role of emotional intelligence and daily huddles in team dynamicsIf you're ready to shift your culture and unlock your team's potential, this is the episode for you.More About Our Guest:Chris Cornelison is a dynamic keynote speaker, entrepreneur, business strategist, consultant, and leadership expert. Known for creating high-performing teams and positive cultures, his keynotes on leadership and business provide practical tools to drive real growth. Chris is committed to making a difference in both business and life.Learn more about Chris, Super Culture and Solutions Rx:Chris Cornelison LinkedInChris Cornelison WebsiteSolutions Rx WebsiteSolutions Rx FacebookSolutions Rx InstagramSolutions Rx LinkedInSolutions Rx YouTubeStay up to date on new episodes by liking and subscribing!Check out all our social media:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources on this topic:Master The MarginClip - How Supplements Can Grow Your Bottom LinePodcast - Finding, Hiring, and Keeping the Best in PharmacyPodcast - AtriumX ReviewSuper Culture TemplatesSuper Culture Book
Send us a textSchedule an Rx AssessmentIs Your Pharmacy Prepared for a Cyberattack?In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Austin Murray sit down with Trenton Thiede, President of PAAS National, to unpack the rising cybersecurity threats facing independent pharmacies and what owners must do to stay compliant and protected.We dive into everything from:HIPAA compliance updatesAI risks, multi-factor authentication, and risk assessmentsThe growing pressure of PBM audits and the need for strong advocacyClick here for the transcriptMore 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 for 15 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:Trenton Thiede LinkedInPAAS National WebsitePAAS National FacebookPAAS National Twitter (X)PAAS National LinkedInStay up to date on new episodes by liking and subscribing!Check out all our social media:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources on this topic:Podcast – Fraud, Waste, and Abuse Audit UpdatesPodcast – Pharmacy Audit Master Class: Strategies for Audit Success
Send us a textSchedule an Rx AssessmentPill bottles don't talk...but what if they could? Now you can know exactly how (and when) patients take their meds.That's the power of Remote Therapeutic Monitoring!And on this week's episode of The Bottom Line Pharmacy Podcast, we're diving into the mechanics of Remote Therapeutic Monitoring.Bonnie Bond, CPA, and Austin Murray sit down with Jen Whalen, Director of Clinical Operations at MedSense, and Matt Gilbert, VP of Business Transformation at RxSafe/Eyecon to explore:- Remote Therapeutic Monitoring as a New, Billable Revenue Stream- How real-time adherence tracking works with any packaging- Long-term Care Layering and How MedSense Fits right in- Reducing Workload While Increasing Patient InsightJoin the discussion with us!Click here for the transcript.Stay connected with Medsense and RxSafe:Jennifer Whalen LinkedInMatthew Gilbert LinkedInMedsense WebsiteMedsense LinkedInRxSafe WebsiteRxSafe LinkedInRxSafe InstagramRxSafe YouTubeStay connected with us: FacebookTwitter (X)LinkedIn InstagramScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources on this topic:Podcast | Driving Independent Pharmacy Profitability in 2025Podcast | Transforming Your Pharmacy: Supplements, Strip Packaging, and PBM ReformPodcast | Tradeshow Series: AtriumX, Telehealth, Functional Medicine
Send us a textSchedule an Rx AssessmentCracking the 340B code can feel like climbing Mt. Everest…but done right, it can be an absolute game-changer for independent pharmacies. That's what this week's episode of The Bottom Line Pharmacy Podcast is all about! Scotty Sykes, CPA, CFP® and Kathy Blanchard team up with Draven Tell, Lead Analyst at Secure340B to break down: - Low Hanging Fruits With 340B Programs - Why Accumulators Matter and Their Impact on Your Bottom Line - How state legislation is pushing back against manufacturer restrictions Join the discussion with us!Click here for the transcript. Stay connected with Draven Tell and Secure340B: Draven Tell LinkedInSecure 340B WebsiteSecure 340B FacebookSecure 340B Twitter (X)Secure 340B LinkedInSecure340B InstagramStay connected with us: FacebookTwitter (X)LinkedIn InstagramScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources on this topic: Podcast | Overcoming Challenges with 340B ContractsPodcast | Understanding 340B Contracts and Maximizing Your Pharmacy's BenefitsClip | The Impact of DIR Fees on 340B Pharmacies
Send us a textAre you shipping GLPs and other compounded medications out of state? You may have a tax compliance issue. From constant GLP changes to multi-state taxes, we're coming to you post-APC Owner's Summit to bring you the 411 on the compounding world! In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP® and Austin Murray share key insights from the APC Summit. Tune in to learn more about: The growing role of wellness in patient care Navigating multi-state tax complexities and IRS modernization What the expiration of the Tax Cuts and Jobs Act could mean for you Stay up to date on new episodes by liking and subscribing! Click here for the transcriptStay connected with us: Facebook Twitter (X) LinkedInInstagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic:Podcast – Compounding Comeback Podcast – Navigating GLP-1 Growth Podcast – Driving Independent Pharmacy Profitability in 2025
Send us a textSchedule An Rx Assessment Check Out Master The Margin Growth Mode…Activated! ✅ From the show floor at the inaugural AtriumX conference, Sykes & Company Leaders Scotty Sykes, CPA, CFP and Austin Murray caught up with Todd Eury, Owner and Founder of RxPR and Pharmacy Podcast Network. On this special bonus episode of the Bottom Line Pharmacy Podcast we touch on: Diversifying Revenue in Your Pharmacy Expanding Your Long-Term Care Base Real - Practical Marketing Strategies And Much More Stay up to date on new episodes by liking and subscribing! Click here for the transcriptStay connected with us: Facebook Twitter (X) LinkedIn Instagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Podcast – AtriumX Recap Podcast – Embracing Long-term Care at Home Ownership Podcast – Long-term Care at Home Franchise Podcast – Getting Into Long-term Care at Home Ownership
Send us a textCheck out the full episode on our Master The Margin SubStackLooking to take your pharmacy to the next level? Schedule an Rx AssessmentThinking of expanding into functional medicine, telemedicine, or cash-based care models? We've got all of that and more in this episode! In this episode of the Bottom Line Pharmacy Podcast, we're giving you the most impactful takeaways from our recent appearance at the inaugural AtriumX show in Orlando Florida! Scotty Sykes, CPA, CFP dives into: The rise of telemedicine Latest developments in 503B compounding The growing relevance of functional medicine and cash-based models And of course, the accounting and tax implications of these innovative areas Tune in to this episode packed with actionable insights to help you adapt and thrive in a rapidly changing landscape. Stay up to date on new episodes by liking and subscribing! Click here for the transcriptStay connected with us: FacebookTwitter (X)LinkedIn Instagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Podcast – Infrastructure, Strategic Marketing, and Relationships Podcast – Driving Independent Pharmacy Profitability in 2025 Podcast – Functional Medicine and Weight Loss Programs
Send us a textTurning a struggling pharmacy around...it takes strategy, infrastructure, and most importantly, strong
Send us a textSchedule an Rx AssessmentAnd out came the tax changes!In this episode of The Bottom Line Pharmacy Podcast, we're taking a step away from our guest interviews to bring you some start of 2025 updates.Scotty Sykes, CPA, CFP and Bonnie Bond, CPA discuss:2025 tax changes The launch of Master The MarginTax season best practices for independent pharmaciesAnd more!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.Stay connected with us:Facebook Twitter (X) LinkedIn Instagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Podcast | Master The Margin | Tax Reform Update Podcast | Pharmacy Insights: PBM Updates, Tax Tips, and Thanksgiving Blog | Maximize Pharmacy State and Local Deductions (SALT) Blog | Tax-Smart Depreciation on Pharmacy Buildings and Equipment
Send us a textLooking at getting into compounding? Don't just dabble in it, go all in.That's the theme of this week's episode of The Bottom Line Pharmacy Podcast!Scotty Sykes, CPA, CFP and Marketing guru Austin Murray of Sykes & Company, P.A. sat down with Dr. Kevin Borg PharmD, America's Pharmacist and owner of Potters House Apothecary and Prescott Compounding Pharmacy to discuss:The rise of GLP-1 compoundingChallenges faced with regulatory complianceImportance of quality and accounting in pharmacy operationsStay up to date on new episodes by liking and subscribing!Click below for the transcript: (insert transcript link) More about our guest: Dr. Kevin Borg, PharmD, FIACP, FACA, earned his doctorate in pharmacy at Midwestern University College of Pharmacy – Glendale, Arizona in 2001. As a pharmacy student, he was a member of the Rho Chi Honor Society and received many awards, including the Pfizer Outstanding Leadership Award and the Roche Pharmacy Communications Award. As an alumnus, Kevin was presented with the prestigious Littlejohn Award by Midwestern University, which honors the values of service, caring, and commitment to the industry. Dr. Borg started his career in retail pharmacy and later became the founding pharmacist-in-charge for a mail-order pharmacy specializing in the care of injured workers.In April of 2009, he realized his lifetime goal and opened Potter's House Apothecary in Peoria, Arizona, as President and CEO. This PCAB accredited compounding–only pharmacy business model has allowed Kevin to pursue his passion of assisting patients who present unique treatment needs. In April of 2021, Kevin purchased Prescott Compounding Pharmacy in Prescott, Arizona. He relocated the pharmacy and built another state-of-the-art compounding facility to meet current industry regulations and better serve the needs of the community.In 2014, Potter's House Apothecary was recognized for three local business awards, including the ASU W.P. Carey School of Business Spirit of Enterprise for Excellence in Entrepreneurship as a finalist. Phoenix Business Journal recognized Potter's House Apothecary as one of the Top 10 Best Places to Work for Small Businesses and as one of the Top 15 Fastest Growing Businesses in Arizona. Potter's House Apothecary also serves as a teaching pharmacy by precepting interns on a monthly basis to further the art and profession of compounding. The level of personal and community satisfaction can only be described as phenomenal!Stay connected with Dr. Kevin Borg, PharmD:Kevin Borg LinkedInPotters House Apothecary WebsitePrescott Compounding Pharmacy WebsitePotters House Apothecary InstagramPotters House Apothecary LinkedInStay connected with us:Facebook Twitter (X) LinkedIn InstagramMore resources about this topic:Podcast – Driving Independent Pharmacy Profitability in 2025Podcast – Legal Updates Impa
Send us a textPrecision. Profit. Performance. In this episode of The Bottom Line Pharmacy podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Nicolette Mathey, PharmD, CEO & Founder of Atrium24 and Dotti to dive into the profitability levers for independent pharmacies in 2025 We cover everything from telemedicine, compounded GLPs, upcoming tax changes, and more!More About Nicolette Mathey: 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 Nicolette, Atrium24, and Dotti: Nicolette's LinkedInAtrium24 WebsiteAtrium24 FacebookAtrium24 LinkedInStay connected with us: FacebookTwitterLinkedIn Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic: Podcast – Driving Independent Pharmacy Profitability in 2024Podcast – Legal Updates Impacting 503B and 503A PharmaciesVideo – Expanding Into Compounded GLPs Step-By-Step
Send us a textWelcome to the first episode of our special series: Infusion Revolution where we discuss all things owning and operating an infusion pharmacy. From accounting and tax best practices to industry changes and trends, you can catch it all on this podcast series.On this first episode, it's all about Starting an Infusion Pharmacy 101! We sit down with Greco De Valencia, VP of Pharmacy and Senior Loan Officer at Live Oak Bank to discuss:Financial implications of entering the infusion marketUnderstanding startup costs and working capitalComplexities of starting an infusion pharmacyOpportunities in the Infusion MarketAnd more!Read and follow along at the show transcript here. Stay connected with Greco De Valencia and Live Oak Bank: Greco's LinkedIn Live Oak Bank Website Live Oak Bank Facebook Live Oak Bank Twitter (X) Live Oak Bank LinkedIn Live Oak Bank Instagram Live Oak Bank YouTube Stay connected with us:Sykes & Company P.A.:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInMore resources on this topic:Video: Future-Proof Your Pharmacy: Essential Advice for 2024Podcast: Finishing The Fight: What's Next For Independent PharmacyPodcast: Startup Pharmacy “The Pharmacy” on How to be Successful
Send us a textIn January of 2024, the Financial Crimes Enforcement Network (FinCEN) began accepting Beneficial Ownership Information reports with a deadline for businesses to file by December 31st, 2024.Flash forward to December 4th, 2024, the Federal Court Blocks Corporate Transparency Act Nationwide changing the Beneficial Ownership Information filing requirements for businesses leaving many curious to where it stands currently.In this bonus episode of The Bottom Line Pharmacy Podcast, we bring back Scott Burnett with Burnett & Associates to give an update on:The current status of the Beneficial Ownership Information (BOI) requirementsRecent preliminary injunction that has temporarily suspended the filing requirementsNavigating possible changes to come including stays or reinstatements Stay connected with Scott Burnett: Burnett & Associates WebsiteBurnett & Associates FacebookBurnett & Associates InstagramBurnett & Associates YouTubeScott Burnett LinkedInStay connected with us: FacebookTwitterLinkedIn InstagramSpotifyApple PodcastsScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP TwitterMore resources on this topic: FinCEN BOIPodcast - Urgent Update on BOI Reporting
Send us a textBuying from primary vs. Secondary wholesalers, when is it best for your pharmacy and how does it impact your bottom line?In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP, Bonnie Bond, CPA, and Ollin Sykes, CPA, CITP, CMA sit down with Wade Hinkle, Founder and CEO of Pharmacy Market Place to discuss:Optimizing pharmacy operations through technologyInefficiencies in traditional pharmacy purchasing methodsImportance of balancing primary vendor agreements with secondary market opportunitiesAnd more!More about Wade Hinkle:Wade Hinkle is the Founder and CEO of Pharmacy Marketplace, an all-in-one purchasing solution that considers primary vendor agreements and key metrics to help you make better real-time purchasing decisions.Prior to Pharmacy Marketplace, Wade studied at the University of Auburn where he obtained a degree in finance. This degree ultimately led him to become a partner and Owner of Hinkle Pharmacy in Alabama where he later used the insights he learned in owning a pharmacy to Co-found Inventory IQ, a service based business focused on helping independent pharmacies implement perpetual inventory systems.Stay connected with Wade on social media:Wade Hinkle LinkedInPharmacy Marketplace WebsitePharmacy Marketplace FacebookPharmacy Marketplace LinkedInStay connected with us on social media: Sykes & Company P.A.: FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA TwitterMore resources on this topic:Podcast – Improving Cash Flow With Inventory ManagementWebinar – Maximizing Your Largest Expense: InventoryWebinar – Inventory Management: Keep Cash In the Bank, Not on Your ShelfWebinar – Improving Cash Flow Inventory Management Best Practices
Send us a textThe 503A and 503B legal landscape is ever changing and staying on top of these changes can be tedious. But don't worry! Sykes is here with the trustee colleagues at Brown & Fortunato. On this episode of the Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP® and Bonnie Bond CPA, sit down with Brad Howard, Esq. And Michael Alexander, Esq. From Brown & Fortunato share recent changes to the 503A and 503B regulatory landscape including:The Evolving relationship between 503B and 503A pharmaciesImpact of FDA regulations and state-level inconsistenciesPossible changes coming in 2025More about our guest:Brad Howard: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 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.Michael Alexander:Michael represents health care clients in a variety of business and regulatory matters, including regulatory compliance, licensing, due diligence review in the acquisition of health care providers, government investigations, and commercial disputes. Michael's clients are primarily pharmacies, hospitals, and physician groups, but he also assists many other health care providers. Michael has successfully assisted his clients in resolving government investigations on both the state and federal level involving general compliance issues as well as matters related to fraud, waste, and abuse. He has also represented clients in payor disputes, and worked in conjunction with his clients, co-counsel, and other parties to coordinate the simultaneous acquisition and re-licensure of multiple health care providers.Learn more about the Brown & Fortunato Team: Brad Howard LinkedInMichael Alexander LinkedInBrown & Fortunato WebsiteBrown & Fortunato FacebookBrown & Fortunato LinkedInConnect with us on social media:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic: Podcast – Developing a Weight Loss Program with GLP1s in Your PharmacyPodcast – Driving Independent Ph
Send us a textHappy Thanksgiving from Sykes! To help you celebrate this holiday, we're bringing you a special bonus episode of The Bottom Line Pharmacy Podcast! In this episode, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA discuss various topics ranging from trade show experiences to Thanksgiving preparations. Highlights include:Insights from recent pharmacy trade showsUpdates on pharmacy regulationsTax tips for the upcoming yearAnd moreDid you like this episode? Stay up to date on new episodes by liking and subscribing! Stay Connected With Us On Social MediaFacebookTwitter (X)LinkedInInstagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More Resources on This Topic:Schedule an Rx AssessmentPodcast – PBM Audit Masterclass Podcast – Master the Margin: Fundamentals of Pharmacy Accounting Podcast – Understanding BOI Reporting Podcast – Master the Margin: 2025 Tax Cuts and Jobs Act Changes
Send us a textSchedule an RX AssessmentCatch up on the latest in pharmacy with our last installment of the 2024 Tradeshow Podcast Series!In this episode, Scotty Sykes CPA, CFP, Bonnie Bond CPA, Ollin Sykes CPA, CITP, CMA, and Kathy Blanchard, Senior Pharmacy Accountant come to you in person from the 2024 NCPA Annual Convention!They discuss trends they're seeing in independent pharmacy, the current state of PBM reform, 2025 tax changes, and more!Stay connected with us on social media: FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic: Check Out the 2023 NCPA EpisodePodcast - Master The MarginNicolette Mathey and Understanding Compounding GLPs
Send us a textReady to expand your pharmacy? Make sure you have a solid financial foundation. Schedule an Rx Assessment todayPharmacy Owners...It's time to elevate your pharmacy and reimagine clinical care with the power of collaboration.In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Amina Abubakar, PharmD, Founder and CEO of Avant Pharmacy and Wellness Center to discuss:Expanding Services Through Collaborative Clinical CareGaining and Building Trust with Local ProvidersImproving Patient OutcomesAnd More!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(insert transcript link) More about our guest:Amina Abubakar graduated from the Philadelphia College of Pharmacy University of the Sciences in 2005. She is the owner and manager of Avant Pharmacy & Wellness Center formerly known as Rx Clinic Pharmacy in Charlotte, NC, and the founder of the Avant Institute.She is an internationally recognized award-winning clinical pharmacist, Certified HIV Specialty Pharmacist, a preceptor to UNC Chapel Hill residents and students from several schools of pharmacy. Recently, Amina was bestowed the honor by the National Community Pharmacists Association as 2020's Independent Pharmacist of the Year and also received the 2020 Bowl of Hygeia from the North Carolina Association of Pharmacists for outstanding service to the community.She has fostered an environment that showcases the impact of community pharmacists on patient care by collaborating with medical providers and expanding pharmacist-led clinical services in her community. Her desire to help others advance the pharmacy profession inspired her to found the Avant Institute to offer training to pharmacies across the country on the practical application of clinical pharmacy services through developing sustainable physician collaborations.Currently, she shares her passion for pharmacy advancements with pharmacists, patients and policy makers all over the country through Pharmacogenomics. She was invited to the White House Office of Science and Technology Policy and to the FDA to discuss the role of pharmacists in pharmacogenomics.Amina Abubakar LinkedInAvant Pharmacy and Wellness WebsiteAvant Pharmacy and Wellness FacebookAvant Pharmacy and Wellness LinkedInStay connected with us on social media: FacebookTwitterLinkedIn Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More Resources on this Topic:Blog - 3 Accounting Essentials for 2024Podcast - The Fundamentals of Independent Pharmacy Accounting
Send us a textIs your pharmacy getting paid what it's supposed to be getting paid? Make reconciliation your superpower! In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP® and Bonnie Bond, CPA sit down with Vanessa Luu, Supervisor of Reconciliation at EnlivenHealth® to discuss all things reconciliation, including: The importance of having a robust reconciliation process in the pharmacy industry. Common issues pharmacies face, such as delayed payments and administrative errors. The benefits of using reconciliation services and tools to streamline financial management. Tax implications of reconciliation Join the discussion with us! Did you like this episode? Stay up to date on new episodes by liking and subscribing! Click here for the transcriptMore about our guest: Vanessa's pharmacy journey began in 2010, blending experience in retail, reconciliation, and sales. Starting as a cashier at Walgreens, Vanessa worked up to management before moving into pharmacy finance at EnlivenHealth®, supporting reconciliation customers directly. Vanessa transitioned to sales, helping pharmacies find the best solutions while strengthening their skills in customer relations and industry insight. Now, as a Supervisor in the Reconciliation Department, Vanessa continues to help customers manage their financial operations with our reconciliation product. Want to learn more about Vanessa and EnlivenHealth®? Click below to check them out! Vanessa Luu LinkedIn: https://www.linkedin.com/in/vanessa-luu-bb8844229/ EnlivenHealth® LinkedIn: https://www.linkedin.com/company/enlivenhealth/ EnlivenHealth® Website: https://enlivenhealth.co/ EnlivenHealth® Facebook: https://www.facebook.com/EnlivenHealthCo EnlivenHealth® Twitter (X): https://x.com/EnlivenHealthCo Stay connected with us on social media: Facebook Twitter LinkedInScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Podcast – This is Why You Don't Fill and Pray Webinar – Cents and Sensibility Podcast – Tax Reform Update: 2025 Changes to the Tax Cuts and Jobs Act Video – Optimize Your Pharmacy's Third-Party Reconciliation Video – The Most Important Accounts Receivables in a Pharmacy
Send us a textThink you're ready to buy or sell your pharmacy? You'll want to tune in to this episode. In this episode of The Bottom Line Pharmacy podcast, (tag) Scotty Sykes, CPA, CFP and Bonnie Bond, CPA welcome Alfonso Zambrano, Esq. Partner at (tag) Brown and Fortunato, to discuss: The current state of mergers and acquisitions (M&A) in the pharmacy industry. Insights into the legal aspects of buying and selling pharmacies. Impact of recent industry challenges on M&A activity.And much more!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: (insert transcript link) More about our guest:Alfonso Zambrano is a shareholder and director at Brown & Fortunato with a broad corporate practice emphasizing on mergers and acquisitions, corporate finance, business start-ups, real estate transactions and corporate governance. Alfonso has served as the principal legal advisor on numerous transactions in various industries to help clients achieve their goals and implement their business strategies.Alfonso represents purchasers and sellers of domestic and multinational businesses in complex public and private mergers, stock and asset acquisitions and divestitures, joint ventures, strategic alliances, venture capital and other private equity investments, financings, recapitalizations and reorganizations. Alfonso has represented clients in a broad range of industries, including energy, technology, and financial services companies with a particular emphasis in the healthcare industry.Alfonso is a member of the State Bar of Texas, the State Bar of New York, and the Amarillo Area Bar Association. He is also an active board member of the Amarillo Museum of Art, and the Harrington Regional Medical Center. He is currently serving as President of the Amarillo Local Government Corporation. In recognition of his community service, Alfonso received the Amarillo Chamber of Commerce Top 20 under 40 Award in 2019. Stay connected with Alfonso and Brown & Fortunato: Alfonso Zambrano LinkedIn Brown & Fortunato Website Brown & Fortunato Facebook Brown & Fortunato LinkedIn Check out all of our social media: Sykes & Company P.A.: Facebook Twitter (X) LinkedIn Instagram CPA's: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Podcast – The Pharmacy Ownership Podcast Podcast – What Is Due Diligence
Send us a textQuestions 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:Impact of tax changes on pharmacies and bonus depreciationManaging costs and improving efficiency in your pharmacyMaximizing tax savings by implementing roboticsStay 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 ScriptPro Website ScriptPro Facebook ScriptPro Twitter (X) ScriptPro LinkedIn ScriptPro YouTube Check out all of our social media: Sykes & Company, P.A. FacebookSykes & Company, P.A. TwitterSykes & Company, P.A. LinkedInSykes & Company, P.A. InstagramScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Podcast – The Hidden Cost of Not Automating Blog - Improving Profitability and Customer Service Levels Through AI Blog – Three Tips to Manage Payroll Expenses Blog – 5 Ways to Diversify Services in Your Pharmacy
Send us a textIn 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:What's in the Tax Cuts and Jobs Act.Updates to Tax Items That Affect Independent Pharmacies.Election Impacts and Changes You Can Expect in 2025 tax reform.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 transcriptStay connected with us on social media:FacebookTwitter (X)LinkedInInstagramYouTubeScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources on this topic:Need help understanding your tax returns? Think you're paying too much in tax? Schedule an Rx Assessment with us 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)
Send us a textNavigate 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: Best practices for copay collection Current trends and tactics in PBM audits Proactive strategies that reduce audit risks 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:Trenton Thiede LinkedInPAAS National WebsitePAAS National FacebookPAAS National Twitter (X)PAAS National LinkedInStay up to date on new episodes by liking and subscribing!Stay connected with us on social media:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic:Podcast – Fraud, Waste, and Abuse Audit Updates
Send us a textSchedule an Rx AssessmentCapital 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:The key differences between capital leases and operating leases Why most equipment leases in pharmacies are capital leases Best practices for evaluating your financing options 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.: Facebook Twitter (X) LinkedIn Instagram YouTube Hosts Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic:Podcast – Master The Margin: Fixed Assets 101Blog – Tax-smart Depreciation on Pharmacy Buildings and EquipmentVideo – The Right Way to Depreciate Pharmacy Equipment
Send us a textCurious 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: Navigating cash flow challenges from chain closures New challenges in the buying and selling process Buy-ins and partial buy-ins ownership options 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 Stay connected with Greco and Live Oak Bank: Greco's LinkedIn Sign Up for the Express Loan Live Oak Bank Twitter (X) Live Oak Bank Facebook Live Oak Bank Instagram Live Oak Bank LinkedIn Live Oak Bank Website Live Oak Bank YouTube Stay connected with us:Facebook Twitter (X) LinkedIn Instagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Blog – Pharmacy Lending: The Inside Scoop Blog – Expanding Your Pharmacy Business Market Share
Send us a textFixed 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: Significance of planning and tax strategies The importance of correctly classifying fixed assets Best practices for managing and reviewing your fixed asset schedule 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.: Facebook Twitter (X) LinkedIn Instagram YouTube Hosts Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic: Resource – The Changing Pharmacy DynamicsBlog – Tax Smart Depreciation on Pharmacy Buildings and EquipmentBlog – Tax Planning for Equipment Investment Using Section 179
Send us a textCompounded 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:The different types of GLP-1 drugs available and their benefitsRole of pharmacists in helping patients achieve their weight loss goalsProfit potential of offering weight loss programs in independent pharmaciesAnd more!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.:T.W. Taylor LinkedInWilliamsburg Drug Co. WebsiteWilliamsburg Drug Co. InstagramWilliamsburg Drug Co. LinkedInStay connected with us on social media:Sykes & Company P.A.:FacebookTwitterLinkedInCPA's:Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic:Resource - How to Develop a Weight Loss Program Using GLP-1s in Your PharmacyPodcast – Tradeshow Series | Live at McKessonPodcast – Tradeshow Series | RBC and Amerisource Rec
Schedule an Rx AssessmentCash flow is the name of the game right now in pharmacy and one of the best ways to improve cash flow and enhance pharmacy workflow is with MedSync!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 episodeMore About Weston Humphrey's:Weston began his career in independent pharmacy in 2013 working as a pharmacy technician with the Tyson Drug stores throughout high school and college. Upon completing a B.B.A. with the University of Mississippi, he began a full-time position with the Tyson Drug Stores where he now works as the Chief Operations Officer and Marketing Manager for its three locations and the Operations Manager for its Oxford location, G&M Pharmacy. His primary roles now include developing and implementing company-wide projects, overseeing daily operations, and overseeing all social media, online presence, website maintenance, advertising, and physician outreach in the area. Weston Humphreys LinkedInTyson Drugs WebsiteTyson Drugs FacebookTyson Drugs LinkedInTyson Drugs Instagram Stay connected with us on social media: Sykes & Company P.A.: Facebook Twitter (X) LinkedIn Instagram CPA's: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Video - Multiple Stores and Real Estate Ownership Podcast – Practicing to the Fullest Extent of Your License
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: Tips for protecting your pharmacy from these audits What these Fraud, Waste and Abuse Audits are Reasons for these increasing audits Navigating Copayment Waivers And more! 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: Brown & Fortunato LinkedInBrown & Fortunato WebsiteBrown & Fortunato FacebookStay connected with us on social media:FacebookTwitter (X)LinkedInInstagramYouTubeCPA's: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter More resources about this topic:Blog – Working With, Not Against, PBMs
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 Twitter (X) LinkedIn Instagram CPA's: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Video – GLP Compounding Deep Dive Video – Pharmacies Launching Their Own Insurance Agencies Podcast – Master the Margin Podcast – Navigating GLP and Other Pharmacy Opportunities
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:The formula "Assets = Liabilities + Equity" Its significance in providing a snapshot of a pharmacy's financial health Common assets you'll find on a pharmacy's balance sheet The importance of tracking current assetsSchedule an Rx AssessmentDid 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 transcriptStay connected with us on social media:Sykes & Company P.A.: Facebook Twitter (X) LinkedIn Instagram YouTube 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
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.:The changing hiring dynamicsThings to consider before hiring techsTips to retain talent on your teamHow A.I. is helping streamline the hiring processTune in to this packed episode with actionable insights and advice to help you build a high-performing pharmacy team!Schedule an Rx Assessment 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 transcriptMore 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: Tyler Davis LinkedIn Sykes & Company, P.A. WebsiteSykes & Company, P.A. FacebookSykes & Company, P.A. Twitter (X)Sykes & Company, P.A. LinkedInSykes & Company, P.A. YouTubeSykes & Company, P.A. InstagramCPA's: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic: Blog – Best Practices for Pharmacists' Compensation
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: Urgent need for transparency and reform in the industry Intricate world of Pharmacy Benefit Managers (PBMs) OreadRx self-sufficient and transparent PBM model Opportunities for Growth in Pharmacy 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:Dared Price LinkedInOreadRx WebsiteOreadRx FacebookStay connected with us on social media Sykes & Company P.A.:FacebookTwitter (X)LinkedInInstagram CPA's: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources about this topic:Podcast – Navigating Pharmacy Reimbursements and Negotiation StrategiesPodcast – Finishing the Fight: What's Next for Independent PharmacyPodcast – The State of PBM Reform
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. Schedule an Rx Assessment Stay up to date on new episodes by following our show!About Nicolette Mathey, PharmD: 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. Nicolette's LinkedIn Atrium24 Website Atrium24 Facebook Atrium24 Instagram Atrium24 LinkedIn Atrium24 YouTube Stay connected with us on social media: Facebook Twitter (X)LinkedInInstagram CPA's: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter More resources about this topic:Blog – The Changing Pharmacy Dynamics: Unveiling New Financial Trends for 2024Blog – Top 3 Independent Pharmacy Accounting Tips for 2024SERIES – Master the Margin Episode 1: Independent Pharmacy Accounting FundamentalsPodcast – Navigating the Legal Maze of 503B Compounding
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: How to tackle common accounting challenges in the pharmacy industry The basics of balance sheets and profit and loss statements The importance of data integrity in your financials Scotty's love for all things caffeine Implement a fundamental accounting system in your pharmacy, schedule an Rx Assessment Read and follow along with the show transcript.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 episodesStay connected with us on social media:FacebookTwitterLinkedIn InstagramScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources on this topic: Blog – Fundamentals of Pharmacy Accounting Presentation – Fundamentals of Pharmacy Accounting: Navigating 2024 and Beyond Podcast – Tackle Independent Pharmacy Accounting
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!Click here for the transcriptMore 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 Twitter (X) LinkedIn Instagram CPA's: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Blog - Tax Cuts and Jobs Act Pharmacy Accounting Impacts
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 todaySchedule an Rx AssessmentStay up to date on new episodes. Click here to learn more about our podcast team and previous episodes. Click here for the transcriptMore 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:Scott's LinkedInKavanaugh Pharmacy WebsiteKavanaugh Pharmacy FacebookWant to stay connected? Check out all of our social media:Facebook Twitter (X) LinkedIn Instagram CPA's:Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA TwitterMore resources about this topic: Press Release – Sykes & Company, P.A. Joins NCPA's CORE Program The NCPA CORE Program
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: What's next for pharmacies after double DIR fees Using automation to transition techs into profit centers for your pharmacy The importance of analyzing your scriptsAnd more!Schedule an Rx Assessment with usDid 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 for the 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. Want to learn more about Darin and ScriptPro? Follow them on social media:Darin Gleason LinkedInScriptPro FacebookScriptPro Twitter (X)ScriptPro LinkedInScriptPro WebsiteScriptPro YouTubeWant to stay connected? Check out all of our social media: Sykes & Company P.A.: Facebook Twitter (X) LinkedIn Instagram YouTube CPA's: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Blog - Improving Profitability and Customer Service Levels Through AI Blog – Three Tips to Manage Payroll Expenses Blog – 5 Ways to Diversify Services in Your Pharmacy
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!Do you know where your pharmacy stands financially? Schedule an Rx Assessment with our team to learn moreMore about Dae Y. Lee and Frier Levitt:Dae Y. Lee, Pharm.D., Esq., CPBS is a pharmacist attorney in Frier Levitt's Life Sciences Department. Dae's practice focuses on pharmacy operations, Plan Sponsor operations and compliance, and Pharmacy Benefit Managers (PBMs) regulations. Dae co-chairs Plan Sponsor Practice Group with Frier Levitt co-founding partner, Jonathan E. Levitt, Esq. He advises clients in a wide range of matters including insurance and PBM audits and termination, wrongful recoupment, wrongful network exclusion, and governmental investigations. For Plan Sponsors, Dae provides full panoply of legal services ranging from PBM contract negotiations to contract disputes to enforce Plan Sponsor Agreement terms and conditions. In addition, Dae prosecutes reimbursement disputes on behalf of healthcare providers and facilities against health insurance companies. Dae has extensive experience litigating high profile commercial and personal injury cases.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 for the transcript Learn more about Dae and Frier Levitt: FacebookInstagramLinkedInWebsiteYouTubeTwitter (X)Stay connected with us: Facebook TwitterLinkedIn InstagramSpotifyApple PodcastsCPA's: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources about this topic: Podcast - Driving Independent Pharmacy Profitability in 2024
One of the ways many independent pharmacies are differentiating themselves is by implementing prescription discount card programs. Under the right circumstances, this can mean significant savings to the patient and an increase in gross margins for the pharmacy. In this episode of The Bottom Line Pharmacy Podcast, Greco De Valencia, Senior Loan Officer with Live Oak Bank, Ripal Patel, Independent Pharmacy Manager and Founder of SaveonRx, Bonnie Bond, CPA, and special guest, Austin Murray with Sykes & Company, P.A. Share insights into how a discount card program can increase gross profits per script, how to market it, and its impact on valuations.Know where your pharmacy stands financially, click here to schedule an Rx Assessment.More About Our Guest: Ripal Patel is a former independent pharmacy owner, and now the founder of SaveonRx a discount card program that helps patients save money on prescription drug cost while at the same time allowing the pharmacy to increase its gross margin and differentiate itself from other pharmacies. Want to learn more about Ripal Patel, Greco De Valencia, and SaveonRx? Click below to check them out! Greco De Valencia LinkedIn: https://www.linkedin.com/in/grecodevalencia/ Ripal Patel LinkedIn: https://www.linkedin.com/in/ripal-patel-226b1517/ Save on Rx Website: https://www.saveonrx.net/saveonrx Save on Rx Facebook: https://www.facebook.com/SaveOnRx1 Save on Rx LinkedIn: https://www.linkedin.com/company/saveonrx/ Learn more about our podcast team and previous episodes.Stay connected with us. Check out all our social media: Sykes & Company P.A.: FacebookTwitterLinkedInYouTubeInstagram CPA's: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA TwitterAustin Murray – Sykes & Company, P.A. More resources on this topic: Blog – How to Consistently Improve Gross MarginsVideo – Gross Margin Expansion Ideas Updated
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 AssessmentWant to read and follow along with this episode? Click here for the transcript.More about our guest:About Nicolette & Atrium24: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 Atrium24, Dr. Nicolette Mathey, PharmD, and Sykes & Company, P.A.!Atrium24:Facebook Instagram LinkedIn Website Sykes & Company P.A.:Facebook Twitter (X) LinkedIn InstagramScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Podcast – Making Data Work for Your PharmacyWebinar – DIR Fees Accounting Best PracticesPodcast – Opportunities with Clinical Services
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!Schedule an Rx AssessmentDid 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 with Amanda Gaddy and Secure340B:Amanda Gaddy's LinkedInSecure340B FacebookSecure340B InstagramSecure340B LinkedInSecure340B WebsiteSecure340B Twitter (X)Stay connected us:Facebook Twitter (X) LinkedIn InstagramScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA TwitterMore resources about this topic:Resource - Explore 340B OpportunitiesPodcast - Understanding 340B ContractsWebinar - How to Thrive in the 340B Space
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!Want to read and follow along? Click here for the transcript.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 FacebookThe Pharmacy Owners Alliance LinkedInThe Pharmacy Owners Alliance WebsiteThe Pharmacy Owners Alliance YouTubeCheck out all of our social media:Sykes & Company P.A.:Facebook Twitter (X) LinkedIn Instagram CPA's:Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP TwitterMore resources about this topic:Podcast – Navigating the Complex World of Pharmacy ReimbursementsPodcast – Clinical Services Opportunities for Your PharmacyPodcast – Cash Flow and Improving Bottom Line for Long-term Care at Home PharmaciesArticle – Fundamentals of Pharmacy Accounting
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:Jared Barton LinkedInInventory IQ WebsiteInventory IQ FacebookInventory IQ Twitter (X)Inventory IQ LinkedInInventory IQ InstagramInventory IQ YouTubeWant to stay connected? Check out all of our social media:Sykes & Company P.A.:Facebook Twitter (X) LinkedIn Instagram CPA's:Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterOllin Sykes – CPA, CMA, CITP LinkedInMore resources about this topic:Blog – Maximizing Your Largest Expense: InventoryWebinar – Inventory: Keep Cash in the Bank, Not the ShelfBlog – Accrual vs. Cash Method of Accounting for Inventory ManagementBlog – The Three Most Important Accounting Inventory Issues
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.Click here for the transcriptMore 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!Hashim Zaibak LinkedInHayat Pharmacy WebsiteHayat Pharmacy FacebookHayat Pharmacy Twitter (X)Hayat Pharmacy LinkedInStay connected with us on social media:Facebook Twitter (X) LinkedIn Instagram CPA's: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic: Article – Multiple Stores and Real Estate Ownership Client Testimonial – Managing Multiple Stores
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