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

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Technology, retaining talent, filling needs in your community. 

We cover it all and more in this sit down with Dr. Hashim Zaibak, PharmD, Founder and CEO of Hayat Pharmacy.

In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with Hashim Zaibak, PharmD, to discuss:

- The future of AI in pharmacy
- Why communication is the most underrated hiring skill
- The hidden impact of pharmacy deserts on urban communities
- And more!

More About Our Guest:

Hashim Zaibak 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.

Aside from Hashim’s experience, he is well known as a helpful educated medical counselor. He dedicates time to giving health education presentations and teaching patients proper medication administration. 

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.

Connect with Hashim Zaibak and Hayat Rx below: 

Hashim Zaibak LinkedIn

Hayat Pharmacy Website

Hayat Pharmacy Facebook

Hayat Pharmacy Instagram

Hayat Pharmacy LinkedIn

Hayat Pharmacy Twitter

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More Resources on these Topics:

Podcast – The One Big, Beautiful Bill

Podcast - Momentum on the Hill: Protecting Independent Pharmacies Through Advocacy

Podcast - Building a Super Culture in Your Pharmacy

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Technology, retaining talent, filling needs in your community. 

We cover it all and more in this sit down with Dr. Hashim Zaibak, PharmD, Founder and CEO of Hayat Pharmacy.

In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with Hashim Zaibak, PharmD, to discuss:

- The future of AI in pharmacy
- Why communication is the most underrated hiring skill
- The hidden impact of pharmacy deserts on urban communities
- And more!

More About Our Guest:

Dr. Jay Phipps is a Pharmacy Gladiator, Pharmacy Doctor, Founder, Entrepreneur President, and CEO with over 29 years of experience in pharmacy. 

At Phipps Pharmacy, Dr. Jay leads a team of dedicated and professional Pharmacy Doctors and technicians who provide personalized and high-quality care for patients. Phipps Pharmacy, Inc. is an independent pharmacy with 5 locations in Tennessee and Mississippi. Dr. Jay is also the President and CEO of PhippsCare that focuses on Pharmacy Doctor provided healthcare and Health Insurance Solutions who specializes in medical and pharmacy plans for seniors. 

Dr. Jay currently serves on multiple Boards of Directors and committees on the national, state, and local levels. He has served as the American Pharmacist Association-Academy Students of Pharmacy National President, on the APhA Board of Trustees, President of the Tennessee Pharmacists Association (TPA), on the Board of Directors for TPA, Chair, Tennessee Pharmacy Research Education Foundation, Co-Chair, Carroll County Drug Prevention Coalition and a District 8 County Commissioner. 

Dr. Phipps received a Doctor of Pharmacy degree from The University of Tennessee Health Science Center, where he also completed a residency in Drug Information and Pharmacotherapy and is currently pursuing an MBA with a major in Leadership and Strategy from the #1 ranked online MBA program at Indiana University - Kelley School of Business.  Dr. Phipps plans to graduate in the fall of 2024. 

Connect with Dr. Jay Phipps, PharmD, MBA and Greco De Valencia below:

Jay Phipps LinkedIn

Pharmacy Gladiator Website

Pharmacy Gladiator Instagram

Pharmacy Gladiator TikTok

Pharmacy Gladiator Twitter (X)

Greco’s LinkedIn

Live Oak Bank Website

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More Resources on these Topics:

Podcast – The One Big, Beautiful, Bill

Podcast - Momentum on the Hill: Protecting Independent Pharmacies Through Advocacy

Podcast - The Trusted Pharmacist: Advocacy and Building a Resilient Pharmacy

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H.R. 4317, PBM transparency and Medicare drug pricing...The legislative landscape is shifting fast, and if pharmacy owners want a sustainable future, advocacy can’t be optional.

So where do things stand and what’s next?

In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with B. Douglas Hoey, CEO of the NCPA, to discuss:

- What the PBM Reform Act means for pharmacy reimbursement
- How Medicare drug pricing changes will impact your margins
- Why advocacy doesn’t stop after a legislative win

And more!

More About Our Guest:

Douglas Hoey is the Chief Executive Officer of the National Community Pharmacists Association. NCPA represents the owners of nearly 20,000 pharmacy small businesses who’s pharmacists provide prescription dispensing services and help fill primary care gaps. The majority of these pharmacies are located in areas the CDC ranks as “high” or “very high” on the Socially Vulnerable Index. Consumers consistently rank community pharmacies as the top-rated pharmacies in the country. 

Hoey is a licensed pharmacist in Oklahoma, Virginia, and Texas and practiced in community pharmacies including his family’s pharmacy before coming to NCPA. He is widely quoted by media as an industry expert on community pharmacy payment and practice issues. Hoey also developed and taught pharmacology courses at George Washington and Marymount universities. 

He is President of the World Pharmacy Council, co-Chairman of the Board of Directors for Surescripts, Chairman of the NCPA Innovation Center, and co-Chairman of the CPESN-USA Board. 

His pharmacy degree is from the University of Oklahoma and his MBA is from the Oklahoma City University. 

Learn more about Doug and the NCPA:

Doug Hoey LinkedIn

NCPA Facebook

NCPA Instagram

NCPA LinkedIn

NCPA YouTube

NCPA Twitter (X)

NCPA Website

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More Resources on these Topics:

Podcast – The One Big, Beautiful Bill

Podcast - Momentum on the Hill: Protecting Independent Pharmacies Through Advocacy

Podcast - The Trusted Pharmacist: Advocacy and Building a Resilient Pharmacy

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One of the strongest forces shaping the future of independent pharmacy right now is advocacy.

Many pharmacists however still underestimate their power to influence policy and protect their profession.

In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with Dr. Steve Hoffart, PharmD, FAAFM and Owner at Magnolia Pharmacy to share real-world experiences from the front lines of pharmacy advocacy.

This episode covers:

• Why advocacy is a critical skill for today’s pharmacists
• Building relationships with legislators to drive meaningful change
• How compounding and wellness tie into a broader advocacy mission
• Overcoming PBM challenges through collective action

More About Our Guest:

Steven C. Hoffart, PharmD, received his Bachelor of Science in Pharmacy with highest honors in 1994 and a Doctorate in Pharmacy from the University of Texas at Austin in 2000. He also holds a board certification and fellowship through the American Academy of Anti-Aging (A4M).

In November of 2002, Dr. Hoffart saw a need for a more personal pharmacy that could make an impact in the community on a larger scale. Magnolia Pharmacy strives to best work with the "triad." The triad is a strong working relationship between the patient, physician, and pharmacy to solve medication problems and provide real solutions for patients to achieve better health and wellness. Cultivating this working relationship has ultimately produced a unique pharmacy experience for each Magnolia Pharmacy patient.

Since 2002, Dr. Hoffart has received numerous awards and recognition for his dedication to the pharmacy profession.

Dr. Hoffart is also a member of The International Academy for Compounding Pharmacists (IACP), National Community Pharmacists Association (NCPA), American Pharmacies buying Co-op (APRx), and the Professional Compounding Centers of America (PCCA). Always striving to achieve excellence, Magnolia Pharmacy is one of only a few dozen pharmacies in the state of Texas to be accredited by the Pharmacy Compounding Accreditation Board (PCAB).

Learn more about Steven and Magnolia Pharmacy:

Steven Hoffart LinkedIn

Magnolia Pharmacy Facebook

Magnolia Pharmacy Instagram

Magnolia Pharmacy TikTok

Magnolia Pharmacy YouTube

Magnolia Pharmacy Website

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Podcast – The One Big, Beautiful Bill

Podcast – Driving Independent Pharmacy Profitability in 2025

Podcast - Momentum on the Hill: Protecting Independent Pharmacies Through Advocacy

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To lease or not to lease…or to purchase? 

When it comes to getting a new vehicle for the pharmacy, one of the most common questions we get asked from owners is “should I lease or should I purchase a vehicle?” 

In this episode of Master The Margin, Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant break down this question and what it means for your tax strategy including:

• Why leasing might limit your tax strategy
• How purchasing a vehicle can unlock large write-offs
• The critical importance of mileage logs and business-use documentation
• How a separate delivery LLC could protect your pharmacy from liability
• And more! 

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More resources about this topic:

Podcast - One Big, Beautiful, Bill: What the New Tax Proposal Means for Pharmacy Owners

Podcast - Master The Margin: 2025 Tax Outlook

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)

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Out of all the hats that pharmacy owners need to wear, advocacy is arguably one of the most important. 

Yet too many pharmacy owners underestimate their ability to influence meaningful change.

So how can pharmacy leaders advocate effectively and ensure their voices are heard in critical policy discussions?

In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, and Bonnie Bond, CPA, sit down with Dr. Cole Sandlin, PharmD and Owner of Fred's Pharmacies to break down: 

• The key takeaways from the pharmacy fly-in
• How bipartisan support is driving momentum for pharmacy initiative
• The role of AI in strengthening pharmacy operations
• And more!

More About Our Guest:

Cole Sandlin, PharmD is a 2008 graduate of Samford University McWhorter School of Pharmacy and the owner of Fred’s Pharmacy in Hamilton, Alabama.

Growing up in Hamilton, his grandfather, Fred C. Sandlin, founded Fred’s Pharmacy in 1951. Cole’s father, Fred Jr., took over from his dad and in 2014 Cole and wife Jill bought the pharmacy from his dad.   

Learn more about Cole and Fred's Pharmacies:

Cole Sandlin LinkedIn

Fred's Pharmacies Website

Fred's Pharmacies Instagram

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More Resources on these Topics:

Podcast – The One Big, Beautiful Bill

Podcast – Driving Independent Pharmacy Profitability in 2025

Podcast - AI, Audits, & Advocacy: The Pharmacy Survival Guide

Podcast - Pharmacy Advocacy: Going Beyond Patient Care for Your Community

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Inventory management...One of the top contributors to profit loss in independent pharmacies.

Yet many owners still rely on outdated systems and reactive strategies.

So how can pharmacy leaders optimize inventory, adapt to market shifts, and still maintain community connection?

In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, Bonnie Bond, CPA sit down with Wade Hinkle, and Jared Barton of Pharmacy Marketplace and Inventory IQ to share real-world lessons from the front lines of pharmacy business.

This episode covers:

• Why accurate inventory systems are a cornerstone of financial health
• Marketplace realities and how pharmacies can strategically respond
• Transitioning to perpetual inventory and how it changes the game
• And more!

More About Our Guest:

Jared Barton:

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. We focus on maximizing efficiency through inventory management and assisting with perpetual inventory implementation/maintenance. They help pharmacies optimize their inventory through their monthly Inventory Mining program, and they also provide inventory count services for tax purposes, transitions of ownership, and third-party audits.

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.

Learn more about Jared, Wade, InventoryIQ and Pharmacy Marketplace:

Jared Barton LinkedIn

Inventory IQ Website 

Wade Hinkle LinkedIn

Pharmacy Marketplace Website

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Master The Margin

Podcast - Driving Independent Pharmacy Profitability in 2025

Podcast - Improving Cash Flow with Inventory Management

Podcast - Navigating the Pharmacy Marketplace

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The tax landscape is shifting for pharmacies...Are you ready to adapt?

In this bonus episode of The Bottom Line Pharmacy Podcast, we bring you fresh insights from the trade show at Connect2025 from RedSail Technologies.

Scotty Sykes, CPA, CFP® and Kathy Blanchard, Senior Pharmacy Accountant deliver a boots-on-the-ground recap of the Connect2025 Conference, diving into their CE session.

• Financial and Regulatory Developments
• Navigating 340B Accounting Complexities
• Critical changes to Tax Law and Accounting Standards

All of that and more in this episode.

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More Resources on these Topics:

Podcast – The One Big, Beautiful Bill

Podcast – Driving Independent Pharmacy Profitability in 2025

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Check out the full episode with bonus insights

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Multi-store owners: Are running payroll through all of your locations? This episode is a must listen...

In this episode of Master the Margin, Scotty Sykes, CPA, CFP® and Kathy Blanchard, Senior Pharmacy Accountant, dive into the nuances of common paymaster status and why it’s often misunderstood in multi-store pharmacy operations. 

They break down: 

- What a common paymaster is—and how it (theoretically) benefits employers 
- Why most multi-store pharmacy owners don’t qualify, despite good intentions 
- The payroll risks of misclassifying employees across entities 
- The role of controlled group rules in IRS compliance 
- How common ownership impacts payroll, 401(k)s, benefits, and more 

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More resources about this topic:

Podcast - One Big, Beautiful Bill: What the New Tax Proposal Means for Pharmacies

Podcast - The Multi Store Owners Guide to Selling Your Pharmacy

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Cyberattacks targeting healthcare are rising, with pharmacies increasingly in the crosshairs. 

From ransomware to phishing scams, the threats are real...and constant.

But how can independent pharmacies defend themselves against a digital siege?

In this episode of The Bottom Line Pharmacy Podcast we have 3 people of the Sykes & Company team, Scotty Sykes, CPA, CFP®, Chris Sykes, IT Director, and Austin Murray, Marketing Director explore the evolving cybersecurity landscape with a practical lens. 

This episode covers:

• The NIST 2.0 Cyber Security Framework
• What to ask your script system vendor about security
• How to build a breach response plan that actually works
• Social engineering 101: What is it and how to protect your pharmacy
• Best practices for employee training, access control, and device audits

More About Our Guest:

Chris Sykes is the Director of IT at Sykes & Company, P.A., where he has been a key part of the team since 2006. 

With nearly 25 years in the IT industry, Chris combines deep technical expertise with a passion for helping both the firm and its clients become more efficient, secure, and technology-driven. 

Chris holds a Bachelor of Science in Business Administration with a concentration in Management Information Systems and a Master of Science in Technology Systems, both from East Carolina University. 

Outside of work, Chris enjoys running marathons, fishing and hunting with his boys, and spending quality time with his family at the beach.

Learn more about Chris:

Chris Sykes LinkedIn

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More resources on this topic:

Podcast - AI, Audits, & Advocacy: The Pharmacy Survival Guide with Trenton Theide

Blog - Technology, Security and Your Pharmacy

Blog - Protect You and Your Pharmacy: The Growing Threat of Ransomware

Blog - Backing Up Your Business Data

Blog - Spot a Hacked Email or Bad Website

Blog - Protect Your Pharmacy Data from Hackers