Shows
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Becoming a Pharmacy Gladiator with Dr. Jay Phipps, PharmD, MBA and Greco De Valencia, VP of PharmacySend us a textSchedule an Rx AssessmentSubscribe to Master The MarginTechnology, retaining talent, filling needs in your community. We cover it all and more in this sit down with Dr. Hashim Zaibak, PharmD, Founder and CEO of Hayat Pharmacy.In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with Hashim Zaibak, PharmD, to discuss:- The future of AI in pharmacy- Why communication is the mo...2025-08-0740 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Pharmacy’s Never Ending Story: PBM Reform Act and Medicare Drug Pricing Changes with Doug Hoey, NCPASend us a textSchedule an Rx AssessmentSubscribe to Master The MarginH.R. 4317, PBM transparency and Medicare drug pricing...The legislative landscape is shifting fast, and if pharmacy owners want a sustainable future, advocacy can’t be optional.So where do things stand and what’s next?In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with B. Douglas Hoey, CEO of the NCPA, to discuss:- What the P...2025-07-3131 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Trusted Pharmacist: Advocacy and Building a Resilient Pharmacy With Dr. Steven Hoffart, PharmDSend us a textSchedule an Rx AssessmentSubscribe to Master The MarginOne of the strongest forces shaping the future of independent pharmacy right now is advocacy.Many pharmacists however still underestimate their power to influence policy and protect their profession.In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with Dr. Steve Hoffart, PharmD, FAAFM and Owner at Magnolia Pharmacy to share real-world experiences from the front lines of pharmacy advocacy.T...2025-07-2431 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin | Ep. 7 | Life in the Tax Lane: The Right Vehicle Strategy for Your PharmacySend us a textCheck out the full episode with bonus insightsSchedule an Rx AssessmentTo lease or not to lease…or to purchase? When it comes to getting a new vehicle for the pharmacy, one of the most common questions we get asked from owners is “should I lease or should I purchase a vehicle?” In this episode of Master The Margin, Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant break down this question and what it means for your tax strategy...2025-07-1807 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Momentum on the Hill: Protecting Independent Pharmacies Through Advocacy With Cole Sandlin, PharmDSend us a textSchedule an Rx AssessmentSubscribe to Master The MarginOut of all the hats that pharmacy owners need to wear, advocacy is arguably one of the most important. Yet too many pharmacy owners underestimate their ability to influence meaningful change.So how can pharmacy leaders advocate effectively and ensure their voices are heard in critical policy discussions?In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with Dr. Cole Sa...2025-07-1735 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Stock & Awe: A Masterclass in Pharmacy Inventory Featuring Wade Hinkle and Jared BartonSend us a textSchedule an Rx AssessmentInventory management...One of the top contributors to profit loss in independent pharmacies.Yet many owners still rely on outdated systems and reactive strategies.So how can pharmacy leaders optimize inventory, adapt to market shifts, and still maintain community connection?In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, Bonnie Bond, CPA sit down with Wade Hinkle, and Jared Barton of Pharmacy Marketplace and Inventory IQ to share real-world lessons from the front lines of p...2025-07-1041 min
Pharmacy Podcast NetworkLife in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy | Master The MarginLife in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy | Master The MarginTo lease or not to lease…or to purchase?
When it comes to getting a new vehicle for the pharmacy, one of the most common questions we get asked from owners is “should I lease or should I purchase a vehicle?”
In this episode of Master The Margin, Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant break down this question and what it means for your tax strategy including:
- Why leasing might limit your tax strategy
- How purchasing a vehicle can unlock large write-offs
- Importance of mileage...2025-06-2508 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Tradeshow Series: Connect 2025 Recap, Tax Changes, and Your Financial PlaybookSend 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 A...2025-06-2115 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin | Ep. 6 | One Payroll, Multiple Pharmacies: Understanding Common PaymastersSend 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 mo...2025-06-2005 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Firewall Frameworks: Navigating Cybersecurity, NIST and HIPAA Featuring Chris Sykes, IT Director at Sykes & Company, P.A.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 pr...2025-06-1927 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Building Revenue and Support Through Diabetes Education Featuring Leanna Schwend, PharmD, DCESSend 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, own...2025-06-0520 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin | Bonus Ep. | One Big, Beautiful Bill: What the New Tax Proposal Means for PharmaciesSend us a textCheck out the full episode with bonus insightsSchedule an Rx Assessment📄 389 pages of proposed reform. Four big takeaways for pharmacy owners. Countless implications for your tax strategy.In the world of tax legislation, 389 pages might feel “short and sweet.”But inside Congress’s latest tax proposal are sweeping changes that could significantly reshape the financial outlook for pharmacy owners across the country.Scotty Sykes, CPA, CFP® breaks down the most important provisions of the bill and what it co...2025-05-3122 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Building a Super Culture in Your Pharmacy Featuring Chris Cornelison, CEO Solutions RxSend 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...2025-05-2235 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.AI, Audits, & Advocacy: The Pharmacy Survival Guide with Trenton Theide, President of PAAS NationalSend 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...2025-05-0840 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Layering the Medication Adherence Cake With Jennifer Whalen, Medsense and Matthew Gilbert, RxSafeSend 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:...2025-05-0121 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Leveraging Analytics in 340B Success With Draven Tell, Secure340BSend 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...2025-04-2429 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Tradeshow Series: APC, Tax Compliance, Tax Changes, Methylene BlueSend 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 ex...2025-04-1716 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Bonus Episode: Appearance on The Pharmacy Podcast Network | AtriumX RecapSend 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 l...2025-04-0418 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Tradeshow Series: AtriumX, Telehealth, Functional MedicineSend 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...2025-04-0316 min
Pharmacy Podcast NetworkATRIUMX 2025 Press Coverage (Two-Part Series) | Part TwoIn Part 2, the conversation focuses on leadership, financial planning, and expanding pharmacy services.
Guests:
Scotty Sykes, CPA, CFP®, Sykes & Company, P.A.
www.sykes-cpa.com
Adam Robinson, PharmD, Pharmacist, SAVE RITE DRUGS INC
www.saveritedrugs.com
Kunal Vyas, CEO, RxMile
www.rxmile.com
Kelley Babcock, Founder, Leadership Growth Formula
www.leadershipgrowthformula.com
Paul Shelton, CEO, PharmaComplete / LTC@Home Pharmacy Network
www.pharmacomplete.com
Nick Brooke, Lumistry
www.lumistry.com
Austin Murray, Sykes & Company, P.A.
www.sykes-cpa.com
2025-03-201h 07
Accounting High249 Throw Your Phone in the Ocean and Follow the Money (feat. Shane Mason, CPA/CFP)Episode 249FACULTY: Shane Mason, CPA/CFPCLASS: #ShoperationsJoin us in this Shoperations episode as we learn from Shane Mason of Brooklyn FI and his venture into software. Shane shares insights into the company's growth, handling rapid expansion, and the importance of predicting the future over dwelling on the past. Discover how Brooklyn FI is navigating industry shifts, introducing new partners, and staying ahead with innovative solutions like Gemifi. Perfect for students and professionals eager to learn about financial planning, startup struggles, and the evolving landscape of tech-driven advisory services.📣 Shout Out...2025-02-2650 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Compounding Comeback: Infrastructure, Strategic Marketing, and Relationships With Dr. Justin Clark, PharmDSend us a textTurning a struggling pharmacy around...it takes strategy, infrastructure, and most importantly, strong 👏 relationships 👏That’s the focus for this week’s episode of The Bottom Line Pharmacy Podcast!This week, Scotty Sykes, CPA, CFP® and Bonnie Bond, CPA sit down with Dr. Justin Clark, PharmD, RPh, BCSCP, and Owner of Val Vista Pharmacy in Arizona, to discuss:Journey from pharmacist to pharmacy ownerThe role of infrastructure and strategic marketingTurning a struggling pharmacy into a compounding successThe importance of customer service and communication in building trustLooking to take you...2025-02-1324 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Pharmacy Insights: 2025 Tax Changes, Master the Margin, and Industry ChangesSend 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...2025-01-3029 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Driving Independent Pharmacy Profitability in 2025 Featuring Nicolette MatheySend 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...2025-01-0955 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Infusion Revolution | Opening an Infusion Pharmacy Featuring Greco De ValenciaSend 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 i...2025-01-0224 min
Pharmacy Podcast NetworkFixed Assets 101 | Master The MarginFixed 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
Ready to take your pharmacy to the next level? Schedule an Rx Assessment with us: https...2024-12-3106 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Breaking: Key Updates to Beneficial Ownership ReportingSend 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...2024-12-2019 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Navigating the Pharmacy Marketplace Featuring Wade Hinkle, Founder and CEO of Pharmacy Market PlaceSend 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...2024-12-1923 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Legal Updates Impacting 503A and 503B Pharmacies Featuring Brad Howard and Michael AlexanderSend 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 chang...2024-12-1238 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Pharmacy Insights: PBM Updates, Tax Tips, and Thanksgiving!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...2024-11-2730 min
Pharmacy Podcast NetworkPharmacy Leasing 101: Capital Lease vs. Operating Lease | Master The MarginThis episode of Master The Margin expands on the Balance Sheet by sharing the ins and outs of pharmacy leasing...more specifically, capital leases and operating leases.
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
Need help understanding your balance sheet? Schedule an Rx Assessment with us: https://www.sykes-cpa.com/rx-assessment-service/
Listen to previou...2024-11-2704 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Tradeshow Series: Live from NCPA 2024 ConferenceSend 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: FacebookTwitter2024-11-2211 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Elevate and Collaborate With Amina Abubakar, PharmD, CEO of Avant Pharmacy and Wellness CenterSend 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 li...2024-11-2122 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Pharmacy Reconciliation 101: Managing Payments Effectively Featuring Vanessa Luu, Supervisor of Reconciliation at EnlivenHealth®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 d...2024-11-1430 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.M&A Mastery: The Ultimate Guide for Pharmacy Owners in 2024 and Beyond With Alfonso Zambrano, Esq. Partner with Brown & FortunatoSend 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 epis...2024-11-0728 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Pharmacy Automation Inside Out: Cost-Control and Tax Strategies With Darin Gleason, ScriptProSend 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:...2024-10-2530 min
The Pharmacy Ownership PodcastDue Diligence: What to Look for When Buying a PharmacyLooking at buying a pharmacy? Do proper due diligence - schedule a meeting with us here.The most important step you can take when buying a pharmacy is performing the right due diligence, but what should you be looking for?In this episode of The Pharmacy Ownership Podcast, Scotty Sykes, CPA, CFP®, and Ollin Sykes, CPA, CITP, CMA share critical insights into the due diligence process when purchasing a pharmacy.Tune in to learn more.Did you like this episode? Stay up to date on new episodes by liking and subscribing!2024-10-2406 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin Episode 5 | Tax Reform Update: 2025 Changes to the Tax Cuts and Jobs ActSend 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 I...2024-10-2313 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Pharmacy Audit Masterclass: Strategies for Audit Success Featuring Trenton Thiede, President of PAAS NationalSend 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 tr...2024-10-1733 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin | Pharmacy Leasing 101: Capital Lease vs. Operating LeaseSend 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...2024-10-1004 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Navigating Pharmacy Chain Closure Cash Flow Challenges Featuring Greco De Valencia Y Sanchez, VP of Pharmacy at Live Oak BankSend 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...2024-10-0343 min
Pharmacy Podcast NetworkUnderstanding The Balance Sheet: A Snapshot In Time | Master the MarginIn 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 assets
Schedule an Rx Assessment: https://www.sykes-cpa.com/rx-assessment-service/
2024-09-2807 min
The Pharmacy Ownership PodcastThe Multi Store Owners Guide to Selling Your PharmacyThink you're ready to sell your pharmacy? Schedule a meeting with us! If you're a multi-location pharmacy owner, you’re going to want to tune in to this episode of the Pharmacy Ownership Podcast! In this episode Scotty Sykes, CPA, CFP® and Ollin Sykes, CPA, CITP, CMA tackle a common yet complex issue: selling a single pharmacy location from a multi-store entity. With real-world examples, Scotty and Ollin walk you through: The crucial steps of spinning off one location Importance of proper accounting practices, like using class codes for pr...2024-09-2707 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin Episode 3: Fixed Assets 101Send 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 practic...2024-09-2005 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Developing a Weight Loss Program with GLP-1s in your Pharmacy with T.W. Taylor, Owner of Williamsburg Drug Co.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...2024-09-1931 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Enhancing Rx Workflow: Maximizing Medsync with Weston Humphreys, COO of Tyson DrugsSend us a textSchedule 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...2024-09-0538 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Exploring Updates in Fraud Waste and Abuse Audits with Brad Howard, Esq. Brown & FortunatoSend us a textFraud, 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 foll...2024-08-2237 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Tradeshow Series: Cardinal RBC and ThoughtSpotSend us a textCatch 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 lear...2024-08-1516 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin Episode 2 | The Balance Sheet: A Snapshot In TimeSend us a textThe 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...2024-08-0907 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Prescription for Talent: Finding, Hiring, and Keeping the Best in Pharmacy With Tyler DavisSend us a textLooking 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 2024-08-0836 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Unpacking Drug Pricing, Integration, and Pharmacy Opportunities with Dared PriceSend us a textIn 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. Rea...2024-08-0129 min
Pharmacy Podcast NetworkIndependent Pharmacy Accounting Fundamentals | Master The MarginWelcome 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 al...2024-07-3107 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Finishing the Fight: What’s Next for Independent Pharmacy with Doug Hoey, CEO of NCPASend us a text🎉 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:Payment ReformFinish the Fight CampaignAdvice for Independent Pharmacy Owners in 2024Join the Discussion with Ollin Sykes, Bonnie Bond, and Doug Hoey!Schedule an Rx AssessmentStay up to date on new episodes b...2024-07-2526 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Tradeshow Series: Live at McKesson with Nicolette Mathey, PharmDSend us a textIn 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...2024-07-2020 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.SERIES: Master The Margin Episode 1: Independent Pharmacy Accounting FundamentalsSend us a textWelcome 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...2024-07-1807 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The State of PBM Reform Featuring State Representative Buddy Carter, Georgia 1st District, BPharmSend us a textSchedule 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!2024-07-1124 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Getting to the CORE of Your Pharmacy with Scott PaceSend us a textNo 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 Ar...2024-06-2751 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Hidden Cost of Not Automating With Darin GleasonSend us a textWith 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 analyz...2024-06-2042 min
The Pharmacy Ownership PodcastAssessing The True Value of Your PharmacyOne of the most common questions we get from pharmacy owners looking to buy or sell a pharmacy is “what’s the pharmacy worth?”In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CITP, CMA and Scotty Sykes, CPA, CFP discuss assessing the worth of your pharmacy, maximizing the value of your pharmacy, maximizing cash flow, and 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...2024-06-0706 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Navigating The Legal Maze of 503B CompoundingSend us a textIn 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...2024-06-0628 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Harnessing the Power of Pharmacy Differentiation Featuring Greco De Valencia and Ripal PatelSend us a textOne 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 gr...2024-05-3038 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Driving Independent Pharmacy Profitability In 2024 With Nicolette MatheySend us a textThe 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!...2024-05-1645 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Overcoming Challenges with 340B Contracts Featuring Amanda GaddySend us a textData 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...2024-05-0933 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Bonus Episode: Reimbursement Changes, Diversified Revenue, and More! | Special Appearance with the Pharmacy Owners AllianceSend us a textReimbursement 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.2024-05-0409 min
The Pharmacy Ownership PodcastPreparing to Sell Your PharmacyBefore selling your pharmacy, it’s important that you have sound financials, but what other steps need to be taken? In this episode of The Pharmacy Ownership Podcast, we dive deep into what you need to consider when selling your pharmacy. We talk about what pharmacy lending banks are looking for, cash vs. accrual accounting, perpetual inventory, and 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 t...2024-05-0305 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Improving Cash Flow with Inventory Management with Jared BartonSend us a textIf 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...2024-05-0227 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.From Zero to Community Pharmacy Hero With Hashim ZaibakSend us a textWhile 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 Worksh...2024-04-1838 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Bonus Episode: Appearance on The Catalyst Pharmacy Podcast: Tackle Pharmacy AccountingSend us a textFrom 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 Stra...2024-04-0450 min
The Pharmacy Ownership PodcastWhat is Due DiligenceBefore buying a pharmacy, it’s important that you do your due diligence, but what does due diligence look like? On this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CMA, CITP and Scotty Sykes, CPA, CFP discuss everything about Due Diligence. We share the different types of due diligence, why it’s important to do your due diligence, what information you need to look for, and more! Stay up to date on new episodes by liking and subscribing! Interested in learning more about the podcast team and th...2024-04-0407 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Transforming Your Pharmacy: Supplements, Strip Packaging, and PBM Reform Featuring Bill Holmes and Matt Gilbert from RxSafeSend us a textOne of biggest pain points pharmacists face is patients taking their medications regularly. One of the innovative ways to help serve the need for patients to take their meds more consistently is through Strip Packaging with RXSafe! 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 epi...2024-03-2836 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Complex World of Pharmacy Reimbursement and Negotiation Strategies With Frier LevittSend us a textThe 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...2024-03-0840 min
The Pharmacy Ownership PodcastHow to Buy a PharmacyAre you interested in buying a pharmacy but aren't sure how or where to even start? Often, we get approached by entrepreneurs looking at buying a pharmacy but aren’t sure what kind of pharmacy they are buying and what the difference between an asset purchase and a common stock purchase is. In this episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA, CITP, CMA and Scotty Sykes, CPA, CFP bring you 40 years of pharmacy CPA insights that dive deep into how to buy a pharmacy, some things you need to consid...2024-03-0804 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Practicing to the Fullest Extent of Your License With Ashley MooseSend us a textAs 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/2024-02-2930 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.ERTC Update: Incorrect Claims, New Tax Bill, and More!Send us a textThe IRS continues to crack down on incorrect ERTC claims and recently released an update shining a light on 7 warning signs of incorrect claims. On this special bonus episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA bring you tax updates that matter for your pharmacy including updates on ERTC, a new tax bill that may affect compounding pharmacies, changes in 1099s, and more! Want to read and follow along with this episode? Click here for the transcript....2024-02-2224 min
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Maximizing Your Online Presence With Mandy MahoneySend us a textIf you’re thinking about expanding into compounding pharmacy services, you do NOT want to miss this episode. When it comes to marketing a compounding pharmacy, it’s important to remember that most of the general public does not know what a compounding pharmacy is. This is why you need to educate your community on not only what you offer but also why what you offer is important. On this episode of The Bottom Line Pharmacy Podcast, we sit down with Mandy Mahoney from Storey Marketing to discus...2024-02-1534 minThe Pharmacy Ownership PodcastAre You Ready to Sell Your PharmacyAre you planning on selling your pharmacy? Do you think you’re ready to sell your pharmacy? Many pharmacy owners underestimate the amount of time and planning it takes to optimize the value of your pharmacy so you can make the most money from your transition. On this first episode of The Pharmacy Ownership Podcast, Ollin Sykes, CPA CMA, CITP and Scotty Sykes, CPA, CFP share insights into how to make the most money from your pharmacy sale, proper timing and planning when selling your pharmacy, what you need to consi...2024-02-0907 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Embracing Long-term Care at Home Pharmacy Ownership with Lindsay Dymowski - ConstantinoSend us a textThe 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-t...2024-02-0138 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Going the Extra Mile with Long-Term Care with Debbie MarcelloSend us a textIn 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 mo...2024-01-2526 min
Catalyst Pharmacy PodcastTackle Pharmacy Accounting With Scotty Sykes | Catalyst Pharmacy Podcast Episode 109Accounting is one of those things that pharmacists may overlook. In the pursuit of providing stellar patient care, it’s easy to forget about that all-important bottom line. Luckily, Scotty Sykes has you covered. His expertise in pharmacy and small business accounting ensures pharmacies are operating with a clean financial bill of health. Tune in to learn about pharmacy accounting essentials, what the DIR cliff is looking like, and some retirement plan tidbits.
Hosted By: Jeff Key, President of PioneerRx | Marsha Bivins, Director of Trade Shows and Events
Guest: Scotty Sykes | CPA, CFP® - Syk...2024-01-1751 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Urgent Update: Understanding FinCEN Reporting with Scott BurnettSend us a textAre 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 transcriptMore ab...2024-01-1738 min
Pharmacy Podcast NetworkElevate Your Pharmacy: Profit Boosters & DIR Defense Tactics | RxSafe
Come visit us at the roundtable and bring your most difficult questions about DIR fees, Medical at Home, and how to utilize automation to maximize profit.
Guests:
Thomas McDowell of McDowells Pharmacy and Happier at Home
Tim Mitchell of Mitchell’s Pharmacy
Lisa Faast of DiversifyRx
Scotty Sykes, CPA, CFP of Sykes & Company, P.A.
Ronna Hauser, PharmD, Senior Vice President, Policy and Pharmacy Affairs of NCPA
2024-01-0553 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Keeping Your Pharmacy Insured Featuring Steve BooneSend us a textMany 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!Who is Steve Boone? Steve Boone is a bu...2024-01-0452 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Year-End Update: DIR Fees, PTE Tax, and Christmas!Send us a textMerry 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!Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to...2023-12-2247 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Improving Cash Flow with Long-Term Care at Home featuring Paul SheltonSend us a textHow 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, Pr...2023-12-2128 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Making Data Work for Your Pharmacy Featuring Nicolette MatheySend us a textHave you explored the potential of what sales and marketing can do for your pharmacy? Most independent pharmacies have a lot of data that they can use with sales and marketing to help grow their pharmacy. You can use this data to grow revenue streams that can help you minimize DIR fees, increase strategic partnerships, and overall help your patients! These are the things that Dotti from ATRIUM24 can help you with. In this episode of The Bottom Line Pharmacy Podcast, Nicolette Mathey joins us for...2023-12-0752 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Business of Compounding and Live at the PCCA Conference Featuring Bryan PrescottSend us a textAre you looking for ways to diversify your pharmacy's revenue streams and get around high DIR fees? Adding a compounding component to your pharmacy is one of the best ways to do just that!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 pa...2023-11-2345 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Trends in Independent Pharmacy Ownership - Live from NCPA 2023Send us a textAre you looking to stay up to date on the latest trends in independent pharmacy ownership? In this episode of The Sykes Bottom Line Pharmacy Podcast, we’re coming to you live from the NCPA conference for our first ever live podcast! 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!Did you like this episode? We share insights for Inde...2023-11-0916 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Can a Perpetual Inventory System Fix My Inventory?Send us a textPharmacy 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/*This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor we...2023-01-1647 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.Becoming a Pharmacist that Dispenses Healthy SolutionsSend us a textAre 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.About Sykes & C...2023-01-0344 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.ERTC for Pharmacies Due DiligenceSend us a textHave 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.About Sykes & Company, P.A. - https://www.sykes-cpa.com/2022-12-1928 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Bottom Line Podcast: Building a Competitive Edge for Your Independent PharmacySend us a textHow 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...2022-11-2142 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Bottom Line Pharmacy Podcast: Pharmacy Tax Planning for 2022Send us a textPurchasing 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/2022-11-0829 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Bottom Line Pharmacy Podcast: Employee Retention Tax Credit for Startup PharmaciesSend us a textStill 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...2022-10-1209 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Bottom Line Pharmacy Podcast: Technology, Security and Your PharmacySend us a textPharmacies 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 an...2022-10-0337 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Bottom Line Pharmacy Podcast: NCPA UpdatesSend us a textNational 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 an...2022-09-2227 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.History of Sykes & Company, P.A. in Pharmacy AccountingSend us a textWe 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 pharmac...2022-09-0717 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Bottom Line Pharmacy Podcast: Employee Retention Tax Credit (ERTC)Send us a textIn 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. 2022-08-2515 minThe Bottom Line Pharmacy Podcast: Sykes & Company, P.A.The Bottom Line Pharmacy Podcast: Inflation Reduction ActSend us a textNote: 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.2022-08-2517 min
Pharmacy Podcast NetworkAcquisition Road Map: Structuring and Evaluating a Purchase | Live Oak BankIn this episode Greco DeValencia, VP of Pharmacy lending at Live Oak Bank talks with Ollin and Scotty Sykes of Sykes & Company, P.A. about an essential step of the acquisition process: structuring and evaluating a business purchase.
Greco De Valencia
VP - Pharmacy
Direct: 910-375-5921
Mobile: 916-710-6669
Email: greco.devalencia@liveoak.bank
Website: www.liveoakbank.com/pharmacy
Ollin B. Sykes, CPA.CITP, CMA
Direct: 252-632-0012
Email: ollin@sykes-cpa.com
Twitter: @OllinSykes
Website: https://www.sykes-cpa.com/
Scotty Sykes, CPA, CFP®
Direct: 252-632-0026
Email: scott@sykes-cpa.com
Twitter: @ScottySykesCPA
Website: https://www.sykes-cpa.com/
Learn more about...2022-04-2250 min
PharmD MoneyEp 38: Common Tax Myths Everyone Should Avoid: An Interview with Scotty Sykes, CPA, CFP®Today, I am exciting to interview Scotty Sykes, CPA, CFP® with Sykes and Company, P.A. Scotty is a Certified Public Accountant who is actively involved in all areas pf pharmacy accounting and tax with an emphasis on high-level advisory for pharmacy clients.There is nothing more exciting than getting a hot tax tip and completely pulling one over on the IRS. Ok, so maybe not that exciting, but reducing your tax bill each year is definitely a positive result. There also seems to be no shortage of ways pharmacists are able to do this. Unfortunately, some o...2021-12-0717 min