Realities of “Philmore Scripts”- Minimizing DIR Fees
DIR fees can be a complex and frustrating aspect of running a pharmacy, but moreso now with upcoming changes in fee collection and PBM contracts. In this episode, our hosts speak with Ben Jolley, PharmD at Jolley’s Compounding Pharmacy in Utah. As …
DIR Fee Apocalypse- The Bottom Line for 2024
On this episode of The Bottom Line Pharmacy Podcast, our hosts discuss the upcoming DIR fees in 2024 and how they will affect independent pharmacies. We stress the importance of planning and knowing your pharmacy’s current burn rate with DIR fees in …
New Inventory Rules Impacting Pharmacies: TD 9942 Update
When the Tax Cuts & Jobs Act of 2017 was signed into law, many pharmacy owners interpreted the new rules to mean taxpayers could write off inventory. Now that Treasury Decision 9942 has gone into effect, pharmacy owners that wrote off inventory need …
This is why you don’t “fill and pray” – The Bottom Line Pharmacy Podcast
Dear independent pharmacies: When you have potentially thousands of dollars a month in unreimbursed claims, you can’t leave it up to chance that you will receive that money, or as we say, don’t “fill and pray.” Get your third-party system up-to-date through …
Financial Essentials: Year-End Pharmacy Accounting Strategies
Scotty Sykes, CPA joined Tricia McCleskey at PioneerRx to host a webinar, Financial Essentials. In this webinar Scotty and Tricia talk through important steps to take when preparing your pharmacy for 2021 and how fundamental accounting can support where you want your …
Pharmacy Tax Planning Using Major Equipment Purchases
Current tax laws allow independent pharmacies to write off 100% of the cost of new equipment placed in service during the tax year or to accelerate depreciation. In this video, Scotty Sykes, CPA, CFP® provides a brief update on how IRS Section …
Is Your Front End an Asset or a Liability? – The Bottom Line Pharmacy Podcast
Does your over-the-counter section of the store give patients the impression that you are a thriving or a dying pharmacy? Are the items on your shelf driving traffic into or out of your pharmacy? On this episode of The Bottom Line Pharmacy …
Inventory Update: Inventory Accounting Under TCJA
The IRS has issued proposed guidance on how independent pharmacies should handle inventory accounting under the Tax Cuts and Jobs Act (TCJA). In this video, Scotty Sykes, CPA, CFP® discusses your options for inventory accounting and some of the considerations you need …
Update on Employee Retention Tax Credit (ERTC)
Recently there has been a lot of industry chatter about the Employee Retention Tax Credit (ERTC). In this episode of The Bottom Line Pharmacy Podcast, join Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP® as they talk about qualifying …
