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

From DIR fees to current PSAO behavior, dive deep into independent pharmacy accounting on this bonus episode featuring Scotty Sykes, CPA, CFP's appearance on The Catalyst Pharmacy Podcast. Want to watch the full episode? Click here. More About the Catalyst Pharmacy Podcast:  Presented by PioneerRx, the Catalyst podcast dives into current events that are shaping how pharmacists approach their patients and their business.  Hosted by President of PioneerRx Jeff Key with cohosts Josh Howland VP of Clinical Strategy, Mark Bivins VP of Sales, and Marsha Bivins Director of Marketing. Fuel your passion for pharmacy, one conversation at a time.  Want to learn more about PioneerRx, the Catalyst Pharmacy Podcast, and what they do? Check out all of their links below:  Catalyst Pharmacy PodcastPioneerRx LinkedInPioneerRx FacebookPioneerRx WebsitePioneerRx YouTubePioneerRx TwitterPioneerRx InstagramJeff Key, President of PioneerRx LinkedInMarsha Bivins Director of MarketingDid you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Want to stay connected? Check out all our social media:  Sykes & Company P.A.:  FacebookTwitterLinkedIn  CPA’s: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources about this topic:  Service – RX Assessment Article – Fundamentals of Pharmacy Accounting Podcast – Minimizing DIR Fees Article – How to Manage DIR Fees Webinar – DIR Fees Best Practices

One 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 episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.  Want to read and follow along with this episode? Click here for the transcript.  More about our guest:  Bill Holmes is the Founder of RxSafe, an automation company that provides innovative technology solutions designed to accelerate your pharmacy's success. Matt Gilbert is the VP of Business Transformation and Major Accounts, a program that works hand in hand with pharmacies to capture more opportunity to expand their revenue through long-term care, supplements, and filling needs within the geographic region of a specific pharmacy. Want to learn more about RxSafe and what they do? Click below to check them out!  RXSafe WebsiteRXSafe FacebookRXSafe Twitter (X)RXSafe LinkedIn RXSafe YouTubeRXSafe InstagramBill Holmes LinkedInMatt Gilbert LinkedIn 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:Podcast – LTC at Home with Lindsay DymowskiArticle – The ROI of Adherence Packaging and AutomationPodcast – LTC and Cash Flow with Paul Shelton

The sunsetting of DIR fees has brought about several changes to the percentages that payers have made up for different pharmacies.In some cases, you have the same payer and the same drug reimbursement with different rates at different times for different patients.On this special bonus episode of The Bottom Line Pharmacy Podcast, we sit down with Jesse C. Dresser, Esq. and Steven L. Bennet, Esq. with Frier Levitt to make sense of everything related to pharmacy reimbursement rates, negotiation strategies, understanding contracts with your PBMs, and more!Want to read and follow along with this episode? Click below for the transcript:https://www.sykes-cpa.com/the-bottom-line-pharmacy-podcast-the-complex-world-of-pharmacy-reimbursement-rates-and-negotiation-strategies-with-frier-levitt-attorneys-at-law/More About Our Guests:Established in 2000, Frier Levitt is a national boutique law firm focused exclusively on Healthcare and Life Sciences including community retail pharmacies, chain pharmacies, compounding pharmacies, specialty pharmacies, mail order pharmacies, home infusion providers, and dispensing physician practices nationally on issues with payors and Pharmacy Benefit Managers (PBMs), including PBM audit appeals, network terminations, network access and credentialing applications, and reimbursement issues.Want to learn more about Frier Levitt? Check out their links below:Frier Levitt FacebookFrier Levitt InstagramFrier Levitt YouTubeFrier Levitt Twitter (X)Want to stay connected with us? 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 TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter  More resources about this topic:Article - PBM Rate Reimbursements: https://www.sykes-cpa.com/states-gain-power-to-regulate-pbm-rate-reimbursements-supporting-independent-pharmacies/Video Blog - Reimbursement Trends and Tools: https://www.sykes-cpa.com/reimbursement-trends-and-tools-available-to-independent-pharmacies/Article – Top Legal Issues Impacting Your Pharmacy: https://www.sykes-cpa.com/top-legal-issues-impacting-your-pharmacy/Article – Working With, Not Against PBMs: https://www.sykes-cpa.com/working-with-not-against-pbms/

As independent pharmacy continues to evolve, it's more important now than ever to diversify your services and be the healthcare hub of your community.  On this episode of The Bottom Line Pharmacy Podcast, we sit down with Ashley Moose from Moose Pharmacy and CPESN to discuss clinical services such as long-term care, pharmacy integrated networks, cash-based revenue opportunities, and more! Want to read and follow along with this episode? Click here for the transcript:  https://www.sykes-cpa.com/practicing-to-the-fullest-extent-of-your-license-featuring-ashley-moose/More About Our Guest:  CPESN is America’s first clinically integrated network pharmacy providers for services that exceed filling prescriptions including long-term care, physiatry collaborative, medical billing, and more! Ashley Moose received her bachelor’s degree from the University of Kentucky and her Doctor of Pharmacy degree from Campbell University. She completed a Community Pharmacy Residency and a Postgraduate Year 2 Community Pharmacy Residency with the University of North Carolina Eshelman School of Pharmacy and Moose Pharmacy. During her career, she has worked tirelessly to advance the practice of independent community pharmacists and help educate young pharmacists. Ashley is the Pharmacy Manager/Co-Owner at Moose Pharmacy of Monroe and is co-owner of Moose Pharmacy of Mount Holly. She also serves as the Director of Network Development for CPESN USA. She works directly with community pharmacists to develop and launch clinically integrated networks of high-performing community-based pharmacies. Want to learn more about Ashley Moose and CPESN? Click their links below: Ashley Moose LinkedIn CPESN Website CPESN LinkedIn CPESN Facebook CPESN Instagram CPESN Twitter (X) Want to stay connected with us? 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:  Article – 5 Ways to Diversify Services in Your Pharmacy Podcast – Embracing Long-term Care at Home Pharmacy Ownership:  Podcast – Improving Bottom Line and Cash Flow with Long-term Care at Home Pharmacy " rel="nofollow">

The IRS continues to crack down on incorrect ERTC claims and recently released an update shining a light on 7 warning signs of incorrect claims. 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.Check out all of our social media and 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:  ERTC Due diligence: https://www.sykes-cpa.com/ertc-due-diligence-the-bottom-line-pharmacy-podcast/ ERTC for Startups: https://www.sykes-cpa.com/employee-retention-tax-credit-for-startup-pharmacies/ IRS 7 ERTC Warning Signs: https://www.irs.gov/newsroom/irs-shares-7-warning-signs-employee-retention-credit-claims-may-be-incorrect-urges-businesses-to-revisit-eligibility-resolve-issues-now-before-march-22#:~:text=Here%20are%20some%20of%20the,sign%20of%20an%20incorrect%20claim. R&D Tax Information for Compounding Pharmacies: https://www.sykes-cpa.com/rd-tax-credit-opportunities-for-pharmacy-compounding-services/

If 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 discuss strategies for compounding pharmacies, digital marketing fundamentals, and more!   Want to read and follow along with this episode? Click below for the transcript:  https://www.sykes-cpa.com/the-bottom-line-pharmacy-podcast-maximizing-your-online-presence/More about our guest:  Mandy Mahoney is the owner of Storey Marketing, a full-service marketing firm founded in 1993 by pharmacist Patricia Storey, R.Ph. Storey Marketing began as a weekly newsletter called “Newspaper Health Columns” which over the years, expanded to offer a suite of services ranging from digital marketing to print marketing. Storey Marketing specializes in website design that follows HIPPA compliance, ADA Accessibility, and GDPR Regulations for compounding pharmacies, independent pharmacies and functional medicine practitioners.  Want to learn more about Mandy and Storey Marketing? Click the links below:  Mandy Mahoney's LinkedInStorey Marketing WebsiteStorey Marketing LinkedInStorey Marketing FacebookStorey Marketing Twitter (X)Storey Marketing InstagramWant to stay connected with us? 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:  The Business of Compounding with Bryan Prescott Marketing for Pharmacies Pharmacy Marketing Fundamentals

The supply of beds at skilled nursing facilities has dropped dramatically which has increased the demand for long-term care at home services.  This has created a lot of opportunities for independent pharmacies to offer a higher level of service to their community and get paid fairly for doing so!  In this episode of The Bottom Line Pharmacy Podcast, we sit down with Lindsay – Dymowski Constantino to discuss embracing long-term care at home pharmacy ownership, why you’re probably already servicing long-term care patients already, The Long-term Care at Home Pharmacy Network, and more! Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.  Want to read and follow along with this episode? Click below for the transcript:  More about our guest:  Who is Lindsay Dymowski – Constantino? Linday – Dymowski Constantino comes to us with over 2 decades of independent pharmacy experience both working behind the bench and volunteering. She is the Cofounder and President of the Long-Term Care at Home Network a centralized hub for all things long-term care at home. They provide independent retail pharmacies with tools and resources such as billing procedures, identification tools, compliance documentation, and more! Want to learn more about Lindsay and the Long-Term Care at Home Network? Click the links below:  Lindsay's LinkedIn Centennial Pharmacy Services Long-term Care at Home Pharmacy Network Website Long-term Care at Home Pharmacy Network LinkedIn Long-term Care at Home Pharmacy Network Facebook Long-term Care at Home Pharmacy Network YouTube Long-term Care at Home Pharmacy Network Twitter (X) Long-term Care at Home Pharmacy Network Instagram  Want to stay connected with us? Check out all of our social media:  Sykes & Company P.A.:  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:  Long-term Care at Home Franchise Option

In today's independent pharmacy landscape, it’s crucial that you go beyond filling scripts. Your pharmacy must become the healthcare hub of your community.  One of the best ways your pharmacy can become the healthcare hub is through community-based services such as at home care! This helps your pharmacy stay proactive to what the community needs and keeps cash-flow positive.  In today’s episode of The Bottom Line Pharmacy Podcast, we take you beyond prescriptions and sit down with Debbie Marcello to discuss Happier at Home, cash-based revenue sources, and more! If you want to read and follow along, click here for the transcript (transcript link) More about our guest:   Debbie Marcello, RN is a Registered Nurse and the CEO of Happier at Home a home health service that has flipped the script on the traditional home health care model by putting clients at the forefront and simultaneously giving independent pharmacies options to diversify revenue, elevate patient care, and ultimately become the healthcare hub of their community. Want to learn more about Debbie Marcello and Happier at Home? Click the links below:  Happier at Home Website Happier at Home LinkedIn  Happier at Home Facebook Happier at Home Instagram Happier at Home Twitter (X) Happier at Home YouTube Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.Want to stay connected? Check out all of our social media:  Sykes & Company P.A.:  Facebook Twitter LinkedIn Instagram YouTube   CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter  Want to read more on diversifying revenue and similar topics? Click below for more resources:   How to consistently improve gross margins 5 Ways to Diversify Services in your Pharmacy

Are you aware of the new FinCEN guidelines for Beneficial Ownership Reporting? If not, you should be!Independent pharmacies are right in the crosshairs of the new guidelines, and we want to keep you protected.  On this special episode of The Bottom Line Pharmacy Podcast, we sit down with Scott Burnett from Burnett & Associates to discuss beneficial ownership reporting, why it matters, and more! Want to read and follow along? Click here for the transcriptMore about our guest:  Who is Scott Burnett? Scott Burnett is a nationally recognized speaker, best-selling author, and President & Founder of Burnett & Associates, a business law firm that specializes in corporate minutes & resolutions, FinCEN, business formations, and asset protection.  If you want Burnett & Associates to help you with your FinCEN filing, use promo code Sykes20 for $20 off your FinCEN filing. Interested in learning more about FinCEN, and corporate minutes & resolutions and Burnett & Associates? Click the links below to learn more:  Burnett & Associates Website Burnett & Associates Facebook Burnett & Associates Instagram Burnett & Associates YouTube Scott Burnett LinkedIn Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.  Want to stay connected? Check out all of our social media:  Sykes & Company P.A. Social: Facebook Twitter (X) LinkedIn Instagram  Follow the CPA's on LinkedIn: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources on this topic: FinCEN BOI BOI Client Letter AICPA FinCEN FAQs Scott Burnett on the new FinCEN guidelines

Many pharmacy owners have never explored their insurance options and as a result, are likely overpaying.  Only recently have other options become available for pharmacy owners, and these options could result in saving $15,000.  In this episode of The Bottom Line Pharmacy Podcast, we sit down with (tag) Steve Boone, Agent with Heartland Insurance Group to discuss how to keep your premiums low, what insurance options are available for delivery, case studies on how much you could save, and more!Who is Steve Boone? Steve Boone is a business insurance professional with over 30 years of experience. Since 2014, Steve has worked exclusively with independent pharmacies and currently insure over 450 locations across the United States. If your pharmacy is looking for a single-source, lower cost package tailored to your unique needs, then this pharmacy-specific program is perfect for you.  Learn more about Steve Boone and Heartland Insurance below:  Steve Boone LinkedInWant to read and follow along? Click here for the transcript!Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Want to stay connected? Check out all of our social media:  Sykes & Company, P.A.:  FacebookTwitter LinkedInInstagram CPA’s: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter Thanks for listening!

Merry Christmas from Sykes & Company, P.A.!  With the New Year almost here, we want to say thank you for your service and all that you do for your community. Our Christmas gift to you is a bonus year-end update episode! On this episode of the Bottom Line Pharmacy Podcast, we’re giving you updates on 2024 DIR fees, PTE Tax, big box chain closures, inflation, Scotty's ugly Christmas shirt,  and more!Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on what’s new in independent pharmacy by liking and subscribing!  Want to stay connected with us? Check out all of our social media:  Sykes & Company, P.A.:  Facebook: https://www.facebook.com/sykesandco Twitter: https://twitter.com/OllinSykes LinkedIn: https://www.linkedin.com/company/sykes-&-company-p-a-?trk=tyah  Instagram: https://www.instagram.com/sykescpa/ CPA’s: Scotty Sykes – CPA, CFP LinkedIn: https://www.linkedin.com/in/scottysykes/ Scotty Sykes – CPA, CFP Twitter: https://twitter.com/ScottySykesCPA Bonnie Bond – CPA LinkedIn: https://www.linkedin.com/in/bonnieevansbond/ Bonnie Bond – CPA Twitter: https://twitter.com/BonnieEvansBond Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/

How can you diversify your revenue sources in your pharmacy? What is long-term care at home? How can you improve cash flow in your pharmacy?  The reality is, to succeed today as an independent pharmacy, you have to diversify your sources of revenue, especially with DIR fees as high as they are. Incorporating long-term care at home is one of the best ways to diversify your revenue. In this episode of the Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Paul Shelton, President of PharmaComplete to discuss the benefits of long-term care at home, how LTC@H can improve cash flow, combo shops, and more! Want to learn more about our guest and Long-Term Care at Home? Check out  PharmaComplete's links below: Website: https://www.pharmacomplete.com/Facebook: https://www.facebook.com/people/PharmaComplete/100085513734326/?locale=hi_INLinkedIn: https://www.linkedin.com/company/pharmacomplete-consulting-services/about/Paul Shelton: https://www.linkedin.com/in/paul-shelton-68434927/Did you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Stay connected with us on all of our social media:  Sykes & Company P.A.:  Facebook: https://www.facebook.com/sykesandco Twitter: https://twitter.com/OllinSykes LinkedIn: https://www.linkedin.com/company/sykes-&-company-p-a-?trk=tyah  Instagram: https://www.instagram.com/sykescpa/ CPA’s: Scotty Sykes – CPA, CFP LinkedIn: https://www.linkedin.com/in/scottysykes/ Scotty Sykes – CPA, CFP Twitter: https://twitter.com/ScottySykesCPA Bonnie Bond – CPA LinkedIn: https://www.linkedin.com/in/bonnieevansbond/ Bonnie Bond – CPA Twitter: https://twitter.com/BonnieEvansBond

Have 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 a discussion on sales & marketing, data, why these things are important, Scotty’s $10 haircut, and more!  Also – stay tuned to the end for a special song by Kendell Harris. Interested in what Dotti can do for your pharmacy? Check them out here: ATRIUM24 WebsiteATRIUM24 LinkedInATRIUM24 FacebookATRIUM24 InstagramWant to connect with Nicolette Mathey? Check out her LinkedIn below: Nicolette Mathey LinkedInDid you like this episode? We share insights for Independent Pharmacy Owners every other Tuesday. Stay up to date on new episodes by liking and subscribing! Click the link below to learn more about our podcast team and previous episodes: All of our previous episodes Want to stay connected? Check out all of our social media:  Sykes & Company P.A. FacebookSykes & Company P.A. TwitterSykes & Company P.A. LinkedInFollow the CPA's on Social: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter

Are 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 pay attention to in your compounding pharmacy, diversifying your revenue sources, some of the advantages to owning a compounding pharmacy, section 174 updates, and more! Join the discussion with us to learn about the business of compounding. Did you like this episode? We share insights for Independent Pharmacy Owners every other Tuesday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes. https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Want to stay connected? Check out all our social media:  Sykes & Company P.A.:  Facebook: https://www.facebook.com/sykesandco Twitter: https://twitter.com/OllinSykes LinkedIn: https://www.linkedin.com/company/sykes-&-company-p-a-?trk=tyah  CPA’s: Scotty Sykes – CPA, CFP LinkedIn: https://www.linkedin.com/in/scottysykes/ Scotty Sykes – CPA, CFP Twitter: https://twitter.com/ScottySykesCPA Bonnie Bond – CPA LinkedIn: https://www.linkedin.com/in/bonnieevansbond/ Bonnie Bond – CPA Twitter: https://twitter.com/BonnieEvansBond Kendell Harris – CPA LinkedIn: https://www.linkedin.com/in/kendell-harris-cpa-2a093854/ Kendell Harris – CPA Twitter: https://twitter.com/CpaKendell