The Bottom Line Pharmacy Podcast: Sykes & Company, P.A.

Join us in this engaging discussion as we delve into the world of pharmacy advocacy and its impact on communities. 

In this episode of The Bottom Line Pharmacy Podcast, we discuss the NCPA fly-in event, where independent pharmacy owners from across the nation gather in Washington, DC to advocate for independent pharmacies. Discover how these passionate professionals go above and beyond patient care, becoming advocates for their communities by addressing issues such as DIR fees with Fred’s Pharmacy owner Cole Sandlin, PharmD. Stay informed, be inspired, and learn how you can make a difference in your own community. 

In this episode of The Bottom Line Pharmacy Podcast, join us as we sit down with Joshua Potter from PRS Consulting to discuss the Drug Supply Chain Security Act and its implications for independent pharmacies. 

Uncover the critical aspects of the DSCSA and its impact on pharmacies in this eye-opening video. Gain insights into the regulatory requirements, traceability standards, and technology solutions that pharmacies are adopting to comply with this transformative legislation.

In this episode of The Bottom Line Pharmacy Podcast, join us as we sit down with Arica Collins, PharmD, and Founder of RetailMyMeds.com, to delve into her industry innovation that empowers independent pharmacies.

Discover how Arica's groundbreaking solution effectively utilizes a dashboard to outsource prescriptions, tackles profitability challenges in independent pharmacies, and explore the significance of this innovation in light of impending DIR fees in 2024.

Sykes & Company, P.A. is not affiliated with RetailMyMeds.com or its professionals. Please see additional disclaimer information at the end of the video.

The dream is possible with the right lender and a pharmacy CPA advisor. Our special guest with the pharmacy lending division of First Financial Bank, Drew Hagi, talks about interest rates, expansion loans and why you should diversify your services to bring in more cash. 

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

Successful marketing for your independent pharmacy requires a handful of things: you need the right budget, a compelling message and you have to be willing to crank up that curb appeal. Tune in to the latest episode of The Bottom Line Pharmacy Podcast with special guest marketing consultant and former senior director of store operations and marketing for NCPA, Gabe Trahan. Hear his tips for sending the right message to the right audience, and why nine is the magic number of words you should use on a digital sign.  

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

It is essential to protect the buyer during a stock purchase. Why? And, what is the difference between an asset purchase and a stock purchase? Jeffrey S. Baird, Esq., an attorney, and head of the healthcare group for Brown & Fortunato, P.C. takes us behind the curtain on the latest episode of The Bottom Line Pharmacy Podcast.

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

What’s the inside scoop on bank loans for pharmacies; how can they help you expand your offerings to meet the demands of the future? And, what is the best way to apply for a loan? Greco De Valencia from Live Oak Bank shares his knowledge of pharmacy lending for this episode of The Bottom Line Pharmacy Podcast.

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

Filling more scripts doesn’t always mean more profit, especially now with upcoming changes to DIR fees and PBM contracts. Navigate the future world of DIR fees for your pharmacy on this episode featuring DIR consultant Ben Jolley, PharmD at Jolley’s Compounding Pharmacy in Utah. 

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

Know your current burn rate with DIR fees in 2023 so you can be prepared for the upcoming DIR fee changes in 2024. Create your plan for DIR fees taken at the point of sale.

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

T.W. Taylor episode referenced: https://www.sykes-cpa.com/becoming-a-pharmacy-that-dispenses-healthy-solutions-the-bottom-line-pharmacy-podcast/

Have you been writing off inventory on your pharmacy’s taxes? The IRS has issued new inventory rules for 2022 taxes and beyond – don’t miss this discussion! 

Do not let your pharmacy’s accounts receivables sit on the backburner; do not just "fill and pray." Learn how to automate your account reconciliation and get paid sooner, with special guest EnlivenHealth on the latest episode of The Bottom Line Pharmacy Podcast.

 About Sykes & Company, P.A. - https://www.sykes-cpa.com/

*This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor were any vendors compensated for being on the show. 

In this special live town hall, we take questions on the air and provide important updates for independent pharmacies on ERTC, inventory management, DIR Fees, Secure Act 2.0 and other listener concerns. 

To view the slideshow, visit our YouTube channel - https://youtu.be/Hv6oHCEqwI0 

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

Startup pharmacy success: our team talks to the owner of The Pharmacy startup in Florence, South Carolina, Jarrod Tippins, PharmD. After only six years, The Pharmacy has experienced great success. What are some contributing factors to Jarrod’s success? And what is “love in a bottle?” Tune in to learn more.

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

*This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor were any vendors compensated for being on the show. 

Pharmacy owners have misreported inventory by millions of dollars, says Scotty Sykes, CPA, CFP®. Jared Barton of Inventory iQ tells us how we can rectify the situation by putting the time and effort into the foundation of a perpetual inventory system. Hear how you can add this to your pharmacy and fix your inventory, on the latest The Bottom Line Pharmacy Podcast. 

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

*This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor were any vendors compensated for being on the show. 

Are you dispensing prescriptions or healthy solutions? Now more than ever, independent pharmacies must continue to carve out their niche by offering services that add value to their patients. On this episode of The Bottom Line Pharmacy Podcast, the team (Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) welcome T.W. Taylor, from Williamsburg Drug Company, to discuss how he has taken steps to reinvent his retail pharmacy as a community wellness center where he is able to offer diversified health services for his patients.

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

This episode is for educational purposes only and is not intended as medical or health advice.  This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor were any vendors compensated for being on the show. 

Have you done your due diligence to ensure that you qualify for the ERTC? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) discuss the complexities of the ERTC and regulatory guidelines that may help you decide if your pharmacy qualifies for the ERTC.

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

If your pharmacy’s front end is dusty and lacks that modern touch, how does customer perception affect sales? Hear what BIOLYTE®* head of pharmacy Kris Rhea says about sprucing up your front end.

About Sykes & Company, P.A. - https://www.sykes-cpa.com/

*BIOLYTE® is not a client of Sykes & Company, P.A. and no employees of Sykes & Company, P.A. were compensated to talk about this product. This podcast is for educational and entertainment purposes only.  

How can an independent pharmacy build a competitive edge in the market by becoming the recommended pharmacy for health care professionals? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, and Scotty Sykes, CPA, CFP® are excited to hear Nicolette Mathey, PharmD, RPh share proven methods to create relationships with doctors and offer services outside of filling prescriptions.

 Please like, share and subscribe, and click here to learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/

Listen on Spotify: https://open.spotify.com/show/1VStwVBZ5Y7OIy2REiJPFV
Listen on Stitcher: https://www.stitcher.com/show/the-bottom-line-pharmacy-podcast--sykes---company--p-a-
Listen on Amazon Music: https://music.amazon.com/podcasts/ba5b39de-b2b0-4fe7-9691-271dc13bfe58/the-bottom-line-pharmacy-podcast-sykes-company-p-a 

Listen on Apple: https://podcasts.apple.com/us/podcast/the-bottom-line-pharmacy-podcast-sykes-company-p-a/id1641766864

Listen on iHeart: https://www.iheart.com/podcast/269-the-bottom-line-pharmacy-p-101324930/


*This is an educational discussion between likeminded professionals. Sykes & Company, P.A. employees were not compensated, nor were any vendors compensated for being on the show. 

Purchasing assets is one way to reduce your tax burden. What are depreciable items that move the tax needle for pharmacies? Should you purchase equipment in 2022? What changes to depreciation tax laws are coming in 2023? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® discuss answers to these questions and more.

Please like, share and subscribe, and click here to learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/

Listen on Spotify: https://open.spotify.com/show/1VStwVBZ5Y7OIy2REiJPFV
Listen on Stitcher: https://www.stitcher.com/show/the-bottom-line-pharmacy-podcast--sykes---company--p-a-
Listen on Amazon Music: https://music.amazon.com/podcasts/ba5b39de-b2b0-4fe7-9691-271dc13bfe58/the-bottom-line-pharmacy-podcast-sykes-company-p-a 

Listen on Apple: https://podcasts.apple.com/us/podcast/the-bottom-line-pharmacy-podcast-sykes-company-p-a/id1641766864

Listen on iHeart: https://www.iheart.com/podcast/269-the-bottom-line-pharmacy-p-101324930/

Still a hot topic, the Employee Retention Tax Credit (ERTC) remains available retroactively for those who qualify. On this episode of The Bottom Line Pharmacy Podcast, the team (Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) discusses ERTC eligibility for startup pharmacies. 

Check out our previous episode on ERTC:  https://www.buzzsprout.com/1610128/11202486

Please like and subscribe, and click here to learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/

Listen on Spotify: https://open.spotify.com/show/1VStwVBZ5Y7OIy2REiJPFV
Listen on Stitcher: https://www.stitcher.com/show/the-bottom-line-pharmacy-podcast--sykes---company--p-a-
Listen on Amazon Music: https://music.amazon.com/podcasts/ba5b39de-b2b0-4fe7-9691-271dc13bfe58/the-bottom-line-pharmacy-podcast-sykes-company-p-a