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

Send us a textPrecision. Profit. Performance. In this episode of The Bottom Line Pharmacy podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Nicolette Mathey, PharmD, CEO & Founder of Atrium24 and Dotti to dive into the profitability levers for independent pharmacies in 2025 We cover everything from telemedicine, compounded GLPs, upcoming tax changes, and more!More About Nicolette Mathey:  Dr. Nicolette Mathey started her career at Walgreens at age 16 and earned her PharmD from the University of Florida in 2010. After pioneering a successful Bedside Delivery program at BayCare Health Systems, she became the Director of Clinical Services at Pharmacy Development Services. There, she co-developed the Clinical Services Profit Ignitor and played a pivotal role in early data analytics. In 2017, Nicolette acquired Palm Harbor Pharmacy, transforming it from a contracts-only establishment in a Heat Zone to a thriving hub. She revamped its identity, introducing robust digital marketing, a multi-rep sales system, compounding, immunizations, NABP accreditation, Test & Treat, Pharmacogenomic (PGX) Testing, and more. In 2019, Nicolette founded ATRIUM24, initially offering business consulting to pharmacies. Focused on developing software to automate data analytics and launch Dotti, the industry’s first CRM sales system tailored for pharmacies, she sold Palm Harbor Pharmacy to another independent owner in October 2023. With the official launch of Dotti in January 2024, Dr. Mathey continues to innovate, aiding pharmacies in maximizing their data for profitability and growth. Through ATRIUM24 and Dotti, she and her team “connect the dots” for sales and marketing initiatives, empowering pharmacies with cutting-edge tools. Stay connected with Nicolette, Atrium24, and Dotti: Nicolette’s LinkedInAtrium24 WebsiteAtrium24 FacebookAtrium24 LinkedInStay connected with us: FacebookTwitterLinkedIn Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic: Podcast – Driving Independent Pharmacy Profitability in 2024Podcast – Legal Updates Impacting 503B and 503A PharmaciesVideo – Expanding Into Compounded GLPs Step-By-Step

Send us a textWelcome to the first episode of our special series: Infusion Revolution where we discuss all things owning and operating an infusion pharmacy. From accounting and tax best practices to industry changes and trends, you can catch it all on this podcast series.On this first episode, it's all about Starting an Infusion Pharmacy 101! We sit down with Greco De Valencia, VP of Pharmacy and Senior Loan Officer at Live Oak Bank to discuss:Financial implications of entering the infusion marketUnderstanding startup costs and working capitalComplexities of starting an infusion pharmacyOpportunities in the Infusion MarketAnd more!Read and follow along at the show transcript here. Stay connected with Greco De Valencia and Live Oak Bank:  Greco’s LinkedIn Live Oak Bank Website Live Oak Bank Facebook Live Oak Bank Twitter (X) Live Oak Bank LinkedIn Live Oak Bank Instagram Live Oak Bank YouTube Stay connected with us:Sykes & Company P.A.:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInMore resources on this topic:Video: Future-Proof Your Pharmacy: Essential Advice for 2024Podcast: Finishing The Fight: What’s Next For Independent PharmacyPodcast: Startup Pharmacy “The Pharmacy” on How to be Successful

Send us a textIn January of 2024, the Financial Crimes Enforcement Network (FinCEN) began accepting Beneficial Ownership Information reports with a deadline for businesses to file by December 31st, 2024.Flash forward to December 4th, 2024, the Federal Court Blocks Corporate Transparency Act Nationwide changing the Beneficial Ownership Information filing requirements for businesses leaving many curious to where it stands currently.In this bonus episode of The Bottom Line Pharmacy Podcast, we bring back Scott Burnett with Burnett & Associates to give an update on:The current status of the Beneficial Ownership Information (BOI) requirementsRecent preliminary injunction that has temporarily suspended the filing requirementsNavigating possible changes to come including stays or reinstatements Stay connected with Scott Burnett:  Burnett & Associates WebsiteBurnett & Associates FacebookBurnett & Associates InstagramBurnett & Associates YouTubeScott Burnett LinkedInStay connected with us: FacebookTwitterLinkedIn  InstagramSpotifyApple PodcastsScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP TwitterMore resources on this topic:  FinCEN BOIPodcast - Urgent Update on BOI Reporting

Send us a textBuying from primary vs. Secondary wholesalers, when is it best for your pharmacy and how does it impact your bottom line?In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP, Bonnie Bond, CPA, and Ollin Sykes, CPA, CITP, CMA sit down with Wade Hinkle, Founder and CEO of Pharmacy Market Place to discuss:Optimizing pharmacy operations through technologyInefficiencies in traditional pharmacy purchasing methodsImportance of balancing primary vendor agreements with secondary market opportunitiesAnd more!More about Wade Hinkle:Wade Hinkle is the Founder and CEO of Pharmacy Marketplace, an all-in-one purchasing solution that considers primary vendor agreements and key metrics to help you make better real-time purchasing decisions.Prior to Pharmacy Marketplace, Wade studied at the University of Auburn where he obtained a degree in finance. This degree ultimately led him to become a partner and Owner of Hinkle Pharmacy in Alabama where he later used the insights he learned in owning a pharmacy to Co-found Inventory IQ, a service based business focused on helping independent pharmacies implement perpetual inventory systems.Stay connected with Wade on social media:Wade Hinkle LinkedInPharmacy Marketplace WebsitePharmacy Marketplace FacebookPharmacy Marketplace LinkedInStay connected with us on social media: Sykes & Company P.A.: FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA TwitterMore resources on this topic:Podcast – Improving Cash Flow With Inventory ManagementWebinar – Maximizing Your Largest Expense: InventoryWebinar – Inventory Management: Keep Cash In the Bank, Not on Your ShelfWebinar – Improving Cash Flow Inventory Management Best Practices

Send us a textThe 503A and 503B legal landscape is ever changing and staying on top of these changes can be tedious.  But don’t worry! Sykes is here with the trustee colleagues at Brown & Fortunato.  On this episode of the Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP® and Bonnie Bond CPA, sit down with Brad Howard, Esq. And Michael Alexander, Esq. From Brown & Fortunato share recent changes to the 503A and 503B regulatory landscape including:The Evolving relationship between 503B and 503A pharmaciesImpact of FDA regulations and state-level inconsistenciesPossible changes coming in 2025More about our guest:Brad Howard:Bradley W. Howard is a health care attorney with extensive experience representing pharmacies, durable medical equipment providers, hospitals, and many other health care providers with compliance, enforcement, and litigation matters throughout the country. Brad enjoys working with pharmacies and other health care providers on regulatory and contractual compliance matters, payer and PBM audits and appeals, governmental demands and requests, responses to subpoenas and demand letters, and business disputes including litigation. Brad routinely handles health care investigations by the Department of Justice, HHS OIG, various boards of pharmacy, State Attorneys General, the Department of Defense, and other regulators.Michael Alexander:Michael represents health care clients in a variety of business and regulatory matters, including regulatory compliance, licensing, due diligence review in the acquisition of health care providers, government investigations, and commercial disputes. Michael’s clients are primarily pharmacies, hospitals, and physician groups, but he also assists many other health care providers. Michael has successfully assisted his clients in resolving government investigations on both the state and federal level involving general compliance issues as well as matters related to fraud, waste, and abuse. He has also represented clients in payor disputes, and worked in conjunction with his clients, co-counsel, and other parties to coordinate the simultaneous acquisition and re-licensure of multiple health care providers.Learn more about the Brown & Fortunato Team: Brad Howard LinkedInMichael Alexander LinkedInBrown & Fortunato WebsiteBrown & Fortunato FacebookBrown & Fortunato LinkedInConnect with us on social media:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic: Podcast – Developing a Weight Loss Program with GLP1s in Your PharmacyPodcast – Driving Independent Ph

Send us a textHappy Thanksgiving from Sykes!  To help you celebrate this holiday, we’re bringing you a special bonus episode of The Bottom Line Pharmacy Podcast! In this episode, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA discuss various topics ranging from trade show experiences to Thanksgiving preparations.  Highlights include:Insights from recent pharmacy trade showsUpdates on pharmacy regulationsTax tips for the upcoming yearAnd moreDid you like this episode? Stay up to date on new episodes by liking and subscribing! Stay Connected With Us On Social MediaFacebookTwitter (X)LinkedInInstagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter  More Resources on This Topic:Schedule an Rx AssessmentPodcast – PBM Audit Masterclass Podcast – Master the Margin: Fundamentals of Pharmacy Accounting Podcast – Understanding BOI Reporting Podcast – Master the Margin: 2025 Tax Cuts and Jobs Act Changes

Send us a textSchedule an RX AssessmentCatch up on the latest in pharmacy with our last installment of the 2024 Tradeshow Podcast Series!In this episode, Scotty Sykes CPA, CFP, Bonnie Bond CPA, Ollin Sykes CPA, CITP, CMA, and Kathy Blanchard, Senior Pharmacy Accountant come to you in person from the 2024 NCPA Annual Convention!They discuss trends they’re seeing in independent pharmacy, the current state of PBM reform, 2025 tax changes, and more!Stay connected with us on social media:  FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic: Check Out the 2023 NCPA EpisodePodcast - Master The MarginNicolette Mathey and Understanding Compounding GLPs

Send us a textReady to expand your pharmacy? Make sure you have a solid financial foundation. Schedule an Rx Assessment todayPharmacy Owners...It’s time to elevate your pharmacy and reimagine clinical care with the power of collaboration.In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Amina Abubakar, PharmD, Founder and CEO of Avant Pharmacy and Wellness Center to discuss:Expanding Services Through Collaborative Clinical CareGaining and Building Trust with Local ProvidersImproving Patient OutcomesAnd More!Did you like this episode? Stay up to date on new episodes by liking and subscribing!Read and follow along with this episode at the show transcript(insert transcript link) More about our guest:Amina Abubakar graduated from the Philadelphia College of Pharmacy University of the Sciences in 2005. She is the owner and manager of Avant Pharmacy & Wellness Center formerly known as Rx Clinic Pharmacy in Charlotte, NC, and the founder of the Avant Institute.She is an internationally recognized award-winning clinical pharmacist, Certified HIV Specialty Pharmacist, a preceptor to UNC Chapel Hill residents and students from several schools of pharmacy. Recently, Amina was bestowed the honor by the National Community Pharmacists Association as 2020’s Independent Pharmacist of the Year and also received the 2020 Bowl of Hygeia from the North Carolina Association of Pharmacists for outstanding service to the community.She has fostered an environment that showcases the impact of community pharmacists on patient care by collaborating with medical providers and expanding pharmacist-led clinical services in her community. Her desire to help others advance the pharmacy profession inspired her to found the Avant Institute to offer training to pharmacies across the country on the practical application of clinical pharmacy services through developing sustainable physician collaborations.Currently, she shares her passion for pharmacy advancements with pharmacists, patients and policy makers all over the country through Pharmacogenomics. She was invited to the White House Office of Science and Technology Policy and to the FDA to discuss the role of pharmacists in pharmacogenomics.Amina Abubakar LinkedInAvant Pharmacy and Wellness WebsiteAvant Pharmacy and Wellness FacebookAvant Pharmacy and Wellness LinkedInStay connected with us on social media:  FacebookTwitterLinkedIn Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter  More Resources on this Topic:Blog - 3 Accounting Essentials for 2024Podcast - The Fundamentals of Independent Pharmacy Accounting

Send us a textIs your pharmacy getting paid what it’s supposed to be getting paid? Make reconciliation your superpower! In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP® and Bonnie Bond, CPA sit down with Vanessa Luu, Supervisor of Reconciliation at EnlivenHealth® to discuss all things reconciliation, including:  The importance of having a robust reconciliation process in the pharmacy industry. Common issues pharmacies face, such as delayed payments and administrative errors. The benefits of using reconciliation services and tools to streamline financial management. Tax implications of reconciliation Join the discussion with us! Did you like this episode? Stay up to date on new episodes by liking and subscribing!  Click here for the transcriptMore about our guest:  Vanessa’s pharmacy journey began in 2010, blending experience in retail, reconciliation, and sales. Starting as a cashier at Walgreens, Vanessa worked up to management before moving into pharmacy finance at EnlivenHealth®, supporting reconciliation customers directly. Vanessa transitioned to sales, helping pharmacies find the best solutions while strengthening their skills in customer relations and industry insight. Now, as a Supervisor in the Reconciliation Department, Vanessa continues to help customers manage their financial operations with our reconciliation product. Want to learn more about Vanessa and EnlivenHealth®? Click below to check them out!  Vanessa Luu LinkedIn: https://www.linkedin.com/in/vanessa-luu-bb8844229/ EnlivenHealth® LinkedIn: https://www.linkedin.com/company/enlivenhealth/ EnlivenHealth® Website: https://enlivenhealth.co/ EnlivenHealth® Facebook: https://www.facebook.com/EnlivenHealthCo EnlivenHealth® Twitter (X): https://x.com/EnlivenHealthCo Stay connected with us on social media:  Facebook Twitter LinkedInScotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic:  Podcast – This is Why You Don’t Fill and Pray Webinar – Cents and Sensibility Podcast – Tax Reform Update: 2025 Changes to the Tax Cuts and Jobs Act Video – Optimize Your Pharmacy’s Third-Party Reconciliation Video – The Most Important Accounts Receivables in a Pharmacy

Send us a textThink you’re ready to buy or sell your pharmacy? You’ll want to tune in to this episode. In this episode of The Bottom Line Pharmacy podcast, (tag) Scotty Sykes, CPA, CFP and Bonnie Bond, CPA welcome Alfonso Zambrano, Esq. Partner at (tag) Brown and Fortunato, to discuss:  The current state of mergers and acquisitions (M&A) in the pharmacy industry. Insights into the legal aspects of buying and selling pharmacies. Impact of recent industry challenges on M&A activity.And much more!Stay up to date on new episodes by liking and subscribing!  Click here to learn more about our podcast team and previous episodes.  Want to read and follow along with this episode? Click here for the transcript:  (insert transcript link) More about our guest:Alfonso Zambrano is a shareholder and director at Brown & Fortunato with a broad corporate practice emphasizing on mergers and acquisitions, corporate finance, business start-ups, real estate transactions and corporate governance. Alfonso has served as the principal legal advisor on numerous transactions in various industries to help clients achieve their goals and implement their business strategies.Alfonso represents purchasers and sellers of domestic and multinational businesses in complex public and private mergers, stock and asset acquisitions and divestitures, joint ventures, strategic alliances, venture capital and other private equity investments, financings, recapitalizations and reorganizations. Alfonso has represented clients in a broad range of industries, including energy, technology, and financial services companies with a particular emphasis in the healthcare industry.Alfonso is a member of the State Bar of Texas, the State Bar of New York, and the Amarillo Area Bar Association. He is also an active board member of the Amarillo Museum of Art, and the Harrington Regional Medical Center. He is currently serving as President of the Amarillo Local Government Corporation. In recognition of his community service, Alfonso received the Amarillo Chamber of Commerce Top 20 under 40 Award in 2019. Stay connected with Alfonso and Brown & Fortunato: Alfonso Zambrano LinkedIn Brown & Fortunato Website Brown & Fortunato Facebook Brown & Fortunato LinkedIn Check out all of our social media:  Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram  CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter  More resources about this topic:  Podcast – The Pharmacy Ownership Podcast Podcast – What Is Due Diligence " rel="nofollow">

Send us a textQuestions about robotics and tax planning? Don’t miss this episode of The Bottom Line Pharmacy Podcast!Join Scotty Sykes, CPA, CFP and Bonnie Bond, CPA as they sit down with Darin Gleason, National Sales Director for Retail Pharmacies at ScriptPro to discuss:Impact of tax changes on pharmacies and bonus depreciationManaging costs and improving efficiency in your pharmacyMaximizing tax savings by implementing roboticsStay up to date on new episodes by liking and subscribing!Read and follow along with this episode at the show transcript:More about our guest:Darin Gleason is the National Sales Director for Retail and Chains with ScriptPro. He has 17 years of experience working with independent pharmacies and automation. In his 17 years of work with independent pharmacies, Darin has seen many changes including changes in Medicare Part D reimbursements, COVID, and DIR fees.ScriptPro is a pharmacy automation system that is built and installed to the custom specs of the pharmacy.Follow Darin Gleason and ScriptPro:  Darin Gleason LinkedIn ScriptPro Website ScriptPro Facebook  ScriptPro Twitter (X) ScriptPro LinkedIn ScriptPro YouTube  Check out all of our social media:  Sykes & Company, P.A. FacebookSykes & Company, P.A. TwitterSykes & Company, P.A. LinkedInSykes & Company, P.A. InstagramScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter  Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter  More resources about this topic:  Podcast – The Hidden Cost of Not Automating Blog - Improving Profitability and Customer Service Levels Through AI Blog – Three Tips to Manage Payroll Expenses Blog – 5 Ways to Diversify Services in Your Pharmacy

Send us a textIn 2017, the first major tax reform in over 30 years passed and it had a tremendous impact on independent pharmacies.Now, with the 2024 election right around the corner, many of these items could see a change!In this episode of Master The Margin, we're taking a step back from exploring the Balance Sheet and diving into an urgent update on the Tax Cuts and Jobs Act. Scotty Sykes goes over:What's in the Tax Cuts and Jobs Act.Updates to Tax Items That Affect Independent Pharmacies.Election Impacts and Changes You Can Expect in 2025 tax reform.Did you like this episode? Stay up to date on new episodes by liking and subscribing!Read and follow along with this episode at the show transcriptStay connected with us on social media:FacebookTwitter (X)LinkedInInstagramYouTubeScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterMore resources on this topic:Need help understanding your tax returns? Think you're paying too much in tax? Schedule an Rx Assessment with us Webinar - Tax Cuts and Jobs Act of 2017: Pharmacy Impact and §199A Blog – Tax-smart Depreciation on Pharmacy Buildings and Equipment Blog – Maximize Pharmacy State and Local Tax Deductions (SALT)

Send us a textNavigate pharmacy audits in this masterclass! In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Trenton Thiede, President of PAAS National to discuss all things Pharmacy Audits including: Best practices for copay collection Current trends and tactics in PBM audits Proactive strategies that reduce audit risks Join the discussion with us!Stay up to date on new episodes by liking and subscribing Want to read and follow along with this episode? Click here for the transcript:  More about our guest:  Trenton Thiede is the President of PAAS National (Pharmacy Audit Assistance Service).Trenton started his journey working at Shopko, a community pharmacy, in 1999 for15 years, holding positions as Pharmacy Manager and Regional Pharmacy Supervisor while completing his PharmD from UW-Madison and MBA from UW-Oshkosh.In 2013, Trenton took over Shopko’s Long-Term Care division and helped divest it to KPH HealthCare (Kinney Drugs/HealthDirect). There, he helped grow their business throughout the Midwest, eventually servicing 20,000 beds in just under four years.In 2018, Trenton joined PAAS and oversees the daily operations as President. With his operations experience, Trent knows what’s involved, and at stake, with pharmacy audits; taking pride in helping independent pharmacies win against ruthless PBMs.Learn more about Trenton and PAAS National:Trenton Thiede LinkedInPAAS National WebsitePAAS National FacebookPAAS National Twitter (X)PAAS National LinkedInStay up to date on new episodes by liking and subscribing!Stay connected with us on social media:FacebookTwitterLinkedInScotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic:Podcast – Fraud, Waste, and Abuse Audit Updates

Send us a textSchedule an Rx AssessmentCapital Lease vs. Operating Lease 101: What’s the difference and how does it impact your pharmacy?In this episode of Master The Margin, Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant take a deep dive into:The key differences between capital leases and operating leases Why most equipment leases in pharmacies are capital leases Best practices for evaluating your financing options Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode at the show transcript.Stay connected with us on social media:Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram YouTube Hosts Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter More resources about this topic:Podcast – Master The Margin: Fixed Assets 101Blog – Tax-smart Depreciation on Pharmacy Buildings and EquipmentVideo – The Right Way to Depreciate Pharmacy Equipment

Send us a textCurious about your cash flow in the midst of chain closures? Schedule an Rx Assessment with us With Walgreens planning to close 25% of its locations over the next 3 years, many independent pharmacies will face significant cash flow challenges from underwater scripts leaving and then coming back to new scripts transferring.  In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA join Greco De Valencia Y Sanchez as they explore:  Navigating cash flow challenges from chain closures New challenges in the buying and selling process Buy-ins and partial buy-ins ownership options Join the discussion with us! Did you like this episode? Stay up to date on new episodes by liking and subscribing!Want to read and follow along with this episode? Click here for the transcript Stay connected with Greco and Live Oak Bank:  Greco’s LinkedIn Sign Up for the Express Loan Live Oak Bank Twitter (X) Live Oak Bank Facebook Live Oak Bank Instagram  Live Oak Bank LinkedIn Live Oak Bank Website  Live Oak Bank YouTube Stay connected with us:Facebook Twitter (X) LinkedIn Instagram Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic:  Blog – Pharmacy Lending: The Inside Scoop  Blog – Expanding Your Pharmacy Business Market Share

Send us a textFixed Assets...what are they and what are the best practices you need to implement in your pharmacy?  In this episode of Master The Margin, Scotty Sykes, CPA, CFP® and Kathy Blanchard, Senior Pharmacy Accountant dive into the essentials of fixed assets.  Tune in to learn more about: Significance of planning and tax strategies The importance of correctly classifying fixed assets Best practices for managing and reviewing your fixed asset schedule Unsure if the assets in your pharmacy are categorized correctly? Is your pharmacy following the best practices when it comes to depreciation schedules? Schedule an Rx Assessment with us to find out!Did you like this episode? Stay up to date on new episodes by liking and subscribing! Read and follow along with this episode at the show transcript Stay connected with us on social media:  Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram YouTube  Hosts Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter  More resources about this topic:  Resource – The Changing Pharmacy DynamicsBlog – Tax Smart Depreciation on Pharmacy Buildings and EquipmentBlog – Tax Planning for Equipment Investment Using Section 179

Send us a textCompounded GLP-1s is One of the hottest trends in pharmacy right now and one of the best ways you can take advantage of this opportunity is by implementing a weight loss program in your pharmacy!In this episode of The Bottom Line Pharmacy Podcast, T.W. Taylor, Owner and Pharmacist of Williamsburg Drug Co. discusses how to develop a weight loss program with GLP-1s in a pharmacy.He shares insights into:The different types of GLP-1 drugs available and their benefitsRole of pharmacists in helping patients achieve their weight loss goalsProfit potential of offering weight loss programs in independent pharmaciesAnd more!Join the discussion with us!Stay up to date on new episodes by liking and subscribing!Click here to learn more about our podcast team and previous episodes.Want to read and follow along with this episode? Click below for the transcript:  https://www.sykes-cpa.com/developing-a-weight-loss-program-with-glp-1s-in-your-pharmacy/More about our guest:  T.W. Taylor, R.Ph., is the Owner of Williamsburg Drug Co. and a visionary and fearless leader in the pharmacy industry with over 41 years of experience. A graduate of Mercer University Southern School of Pharmacy, where he earned his Bachelor of Science in Pharmacy in May 1982, T.W. has a rich history of pharmacy ownership and operations.  T.W. is also the Partner & Managing Director of RX3 Compounding Pharmacy and RX Care USA LLC.His career began in the United States Air Force as a Corpsman and Physician Extender with the rank of Sergeant, where he graduated with honors in 1973. Over the years, T.W. has been recognized for his contributions to healthcare and business, winning the 2022 Small Business of the Year award from the Greater Williamsburg Chamber & Tourism Alliance, and Medical Business of the Year. He has received proclamations from the York County Board of Supervisors and letters of appreciation from Senator Warner, Congressman Whitman, and Congressman Luria.Stay connected with T.W. Taylor and Williamsburg Drug Co.:T.W. Taylor LinkedInWilliamsburg Drug Co. WebsiteWilliamsburg Drug Co. InstagramWilliamsburg Drug Co. LinkedInStay connected with us on social media:Sykes & Company P.A.:FacebookTwitterLinkedInCPA’s:Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP TwitterBonnie Bond – CPA LinkedInBonnie Bond – CPA Twitter More resources on this topic:Resource - How to Develop a Weight Loss Program Using GLP-1s in Your PharmacyPodcast – Tradeshow Series | Live at McKessonPodcast – Tradeshow Series | RBC and Amerisource Rec

Send 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 you like this episode? We share insights for Independent Pharmacy Owners every other Thursday. Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.Click here to read and follow along with this episodeMore About Weston Humphrey's:Weston began his career in independent pharmacy in 2013 working as a pharmacy technician with the Tyson Drug stores throughout high school and college. Upon completing a B.B.A. with the University of Mississippi, he began a full-time position with the Tyson Drug Stores where he now works as the Chief Operations Officer and Marketing Manager for its three locations and the Operations Manager for its Oxford location, G&M Pharmacy. His primary roles now include developing and implementing company-wide projects, overseeing daily operations, and overseeing all social media, online presence, website maintenance, advertising, and physician outreach in the area. Weston Humphreys LinkedInTyson Drugs WebsiteTyson Drugs FacebookTyson Drugs LinkedInTyson Drugs Instagram  Stay connected with us on social media:  Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram  CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter  More resources about this topic:  Video - Multiple Stores and Real Estate Ownership Podcast – Practicing to the Fullest Extent of Your License

Send 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 follow along with this episode? Click here for the transcript  More about our guest:  Bradley W. Howard is a health care attorney with extensive experience representing pharmacies, durable medical equipment providers, hospitals, and many other health care providers with compliance, enforcement, and litigation matters throughout the country.  Brad moved to Brown & Fortunato more than twenty-six years ago from a large Denver firm where he prepared and tried numerous lawsuits and administrative hearings for manufacturers, health care providers, and large companies in a variety of industries. Brad enjoys working with pharmacies and other health care providers on regulatory and contractual compliance matters, payer and PBM audits and appeals, governmental demands and requests, responses to subpoenas and demand letters, and business disputes including litigation.  Brad routinely handles health care investigations by the Department of Justice, HHS OIG, various boards of pharmacy, State Attorneys General, the Department of Defense, and other regulators.  Brad is also board certified in Labor and Employment Law by the Texas Board of Legal Specialization.  In summary, Brad serves as a creative and strategic legal problem solver and is regarded by many clients as their outside General Counsel. Brad grew up in Texas and considers it home, but he works with clients throughout the country in person and on video conferences.  Brad graduated from the University of Texas School of Law in 1991 and received his B.A. from Texas Tech University in 1988, graduating summa cum laude. Brad is admitted to practice law in Texas, Colorado, New Mexico, Oklahoma, and Iowa. Brad and his wife, Nicole, have four children and four grandchildren. Brad enjoys running, fly-fishing and most of all spending time with his family. Stay connected with Brad Howard, Esq. and Brown & Fortunato:  Brown & Fortunato LinkedInBrown & Fortunato WebsiteBrown & Fortunato FacebookStay connected with us on social media:FacebookTwitter (X)LinkedInInstagramYouTubeCPA’s: Scotty Sykes – CPA, CFP LinkedInScotty Sykes – CPA, CFP Twitter More resources about this topic:Blog – Working With, Not Against, PBMs

Send 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 learn more about our podcast team and previous episodes: https://www.sykes-cpa.com/media-resources/the-bottom-line-pharmacy-podcast/ Want to stay connected? Check out all of our social media:  Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram  CPA’s: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter More resources about this topic:  Video – GLP Compounding Deep Dive Video – Pharmacies Launching Their Own Insurance Agencies Podcast – Master the Margin Podcast – Navigating GLP and Other Pharmacy Opportunities