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

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 Bo...

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 disc...

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...

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 w...

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 patie...

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 wi...

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...

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 f...

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...

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 Pharmac...

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 embr...

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 Podc...

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! 

Wan...

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 fo...

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 th...

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...

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 ...

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...

Are 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 mini...