RxSafe Podcast Series

Elevate Your Pharmacy: Profit Boosters & DIR Defense Tactics | RxSafe

Come visit us at the roundtable and bring your most difficult questions about DIR fees, Medical at Home, and how to utilize automation to maximize profit.Guests:Thomas McDowell of McDowells Pharmacy and Happier at HomeTim Mitchell of Mitchell’s PharmacyLisa Faast of DiversifyRxScotty Sykes, CPA, CFP of Sykes & Company, P.A.Ronna Hauser, PharmD, Senior Vice President, Policy and Pharmacy Affairs of NCPA
 

Maximizing Pharmacy Profits: The Power of Utilizing Section 179 | RxSafe

Independent pharmacy owners are focusing on maximizing cash flow and minimizing their cash outlay inthe lead-up to the expected DIR fee overlap in early 2024.In today's rapidly evolving pharmaceutical landscape, not only is it essential to stay updated with clinicaladvancements and best practices, but also with the financial tools and incentives available to us. Onesuch tool that often goes underutilized is Section 179.Section 179 might sound like just another clause in the tax code, but for pharmacies it can be a game-changer. Today, we will delve into how this tax provision can benefit your operations, enhance yourprofitability, and strengthen the financial health of your pharmacy.Our expert panel will explain Section 179, provide real-world examples of its implementation, andanswer any questions you may have about leveraging it effectively.Let me introduce our panelists:• Scoty Sykes, Sykes and Co.• Pete Davison, Advantage Financial Services• Lisa Kocian, Gibson Pharmacy• Adam Robinson, Save-Rite Drugs[Watch Pucci’s Pharmacy, Clint Hopkins Video]Scoty & Pete1. Can you provide us with a brief overview of Section 179 & how it works?2. What are the main benefits pharmacies can gain by leveraging Section 179 deductions?Lisa & Adam3. Can you tell us how you effectively utilized Section 179 and what the impact was on yourfinancial botom line?4. Did Section 179 impact your purchasing decision when you bought adherence packagingequipment?Scoty & Pete5. How does Section 179 apply to pharmacies looking to invest in automation or other high-costequipment?6. What should pharmacies should keep in mind to ensure they don't miss out on utilizing Section179 this year?7. For pharmacies that lease equipment, how does Section 179 apply, and what should theyconsider?8. Are there any common pitfalls regarding Section 179 that pharmacies should be aware of?9. If a pharmacy chooses to defer lease payments to conserve cash can they still utilize Section179?10. How much can a pharmacy owner save in taxes in a best case scenario?AllAddress questions from the audience

Specialty Pharmacy Webinar | RxSafe

RxSafe was pleased to sponsor How Specialty Pharmacies are Revolutionizing Patient Compliance. Hosted by Todd Eury, publisher of the Pharmacy Podcast Network, the webinar included guests:•    Brad Livingstone, PharmD, Owner, Sound Specialty Pharmacy•    Matt Gilbert, VP of Strategic Accounts, RxSafe“Pharmacy runs through this guy's veins,” says Eury, speaking of Brad Livingstone. “He's been expanding his pharmacy businesses from compounding to community pharmacy, specialty, mixed long-term care, and the services that have been critical to the communities where he operates.”

Is Offering Compliance Packaging Right for Your Pharmacy? | RxSafe

Are you looking to offer compliance packaging in your community but don’t know where to start?  Or do you already have a solution, but are struggling to scale it? Join two pharmacy owners, our wholesale partners at Value Drug, and the RxSafe podcasting team as we feature pharmacists and industry insiders to discuss how your pharmacy can offer this valuable service to your patients. We'll also discuss how your business can avoid DIR fees by leveraging Medical-at-Home and address staffing problems by streamlining your workflow.Guests: Angela Stokes - Village Pharmacy of Wake ForestMargie Lydon - Value Drug Erich Cushey - Curtis Pharmacy 

Important Considerations for End of Year Tax Planning - Section 179 and More

Panelists:
Dr. Ken Thai, PharmD
Scotty Sykes, CPA
Bonnie Bond, CPA
Important Considerations for End of Year Tax Planning
Section 179 and More
Now is the time of year when people start thinking about how to wrap up their tax year in the best way possible. End of year tax planning is key to this process.
Section 179 is especially appealing because small businesses have the ability to deduct the full purchase price of equipment or software the year the equipment is purchased and deduct the full purchase price from their taxable earnings and before paying off the loan. Having the equipment immediately means they can start earning a profit and keep their working capital healthy if purchased with a loan or on a lease.
Before we delve deeper into some of the specifics around Section 179, let’s talk to a pharmacy owner who has used these benefits to significantly grow his pharmacy business. 

Community Pharmacy Preparation for Legislator Engagement & Meeting | NCPA

Founded in 1898, the National Community Pharmacists Association is the voice for the community pharmacist, representing nearly 19,400 pharmacies that employ 215,000 individuals nationwide. Community pharmacies are rooted in the communities where they are located and are among America’s most accessible health care providers. To learn more, visit www.ncpa.org.
Join us while we talk about how independent pharmacies are hosting members of Congress in their pharmacies. Support the NCPA by joining today. 
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Expanding Home Care Services through Community Pharmacy

Providing long-term care services to patients who don't want to be in an assisted living facility or nursing home is needed in communities throughout the nation.  The medical at home (MAH) model represents a shifting population of patients preferring to receive the same care they would receive in a long-term care (“LTC”) facility in their homes, which is a lower cost environment.
What Services Are Provided for MAH? 
Non-Medical Home Care Services 
Pharmacy Operations and Prescription Orders
Special Adherence Packaging
IV Medications
Compounding/Alternative Forms of Drug Composition
Pharmacist On-call Service
Delivery Service
Miscellaneous Reports, Forms and Prescription Ordering Supplies
Guests: 
Dr. Lisa Faast, PharmD - Pharmacy Owner & CEO of DiversifyRx 
Dr. Adam Robinson, PharmD - Pharmacy Owner at Save Rite Drugs 
Deborah C. Marcello, RN,BSN,CCM - CEO of Happier at Home 
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Building Your Home-Care Pharmacy Business

We believe that local independent community pharmacy has a much wider role to play in future home-care. Historically, pharmacists have not been included on home care teams, despite the fact that home care patients require more pharmacy care services and frequently experience medication errors.
There’s an opportunity for Community Pharmacies to deliver more in-home care services. LTC pharmacies are compensated for services which many community pharmacies provide to their home-bound patient base.
The optimal service delivery model of community pharmacies and distribution of additional clinical care for home care is a prime opportunity. 
Special thanks to our episode sponsor RxSafe, leaders in Medication Adherence packaging & partners of Independent Community Pharmacy. 
Guests: 
Ronna Hauser, PharmD
SVP Policy & Pharmacy Affairs at NCPA
Susan Rhodus, BS Pharm 
Senior Vice President, Contracts and Advocacy at GeriMed
Joe Williams, PharmD
Owner at Brisson Drugs
References: 
https://ncpa.org/medical-home-mah 
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The Pharmacist’s Role in Heart Health | RxSafe

RxSafe | Heart Health Panel Discussion
Panelists:
Sandra Awaida, PharmD
Jennifer Marquez, PharmD
Dr. Nathan S. Bryan, PhD
Brittany R. Messer, PharmD
The pharmacist plays an important role in the prevention of cardiovascular diseases, mainly through patient education, counseling, detection, and control of specific risk factors.
Join RxSafe as we present experienced pharmacists and experts who will share their knowledge of best practices that have a direct impact on heart health outcomes that community pharmacies can implement in their practices.
Dr. Messer is a clinical pharmacy specialist practicing with the cardiology department at Marshall Health. She completed residency at the VA Medical Center in Huntington, West Virginia, where she gained experience with heart failure medication optimization, anticoagulation management and cardiovascular disease state management, such as lipids and hypertension, in both the inpatient and ambulatory settings. Dr. Messer currently works closely with the heart failure clinic and general cardiology at Marshall Cardiology.
Dr. Awaida is founder of PreciGenX, a company that helps other physicians and pharmacists grow their businesses by incorporating CCM, RPM, and PGx services in their practices. She utilizes patient monitoring and evidence-based pharmacotherapy and pharmacogenomics to prevent, predict and personalize medication therapy to improve outcomes for her patients.
Dr. Marquez is an experienced, residency-trained, oncology board-certified, and PGx-certified pharmacist. She is passionate about helping patients and providers overcome drug therapy challenges.
Dr. Bryan was the first to describe nitrite and nitrate as indispensable nutrients required for optimal cardiovascular health. Dr. Bryan has published a number of highly cited papers and authored or edited 5 books. He is an international leader in molecular medicine and nitric oxide biochemistry.
 Panel Overview:  
 
Cardiovascular disease is highly prevalent, affecting 4 of every 10 Americans, and its costs are expected to exceed $1.1 trillion by 2035, noted from a study published by the Journal of American Heart Association. 
 
The pharmacist plays a relevant role in primary and secondary prevention of cardiovascular diseases, mainly through patient education and counseling, drug safety management, medication review, monitoring and reconciliation, detection and control of specific cardiovascular risk factors and clinical outcomes.
 
Pharmacists can be a key source of support for individuals looking to manage their heart health. Many of the conditions that increase the risk of heart disease require medication to treat, and taking those medications as prescribed can help reduce the risk of a cardiovascular event.
 
This discussion is about the panelists experience and knowledge of heart health best practices, suggested supplements like Nitric Oxide, lowering cholesterol, and many other topics which have a direct impact on heart health education and programs for Community Pharmacies to implement in their practices. 
 
What is the link between cholesterol and heart disease?
 
Many years of scientific studies have shown a close relationship between cardiovascular disease and cholesterol levels. Your doctor may request a lipid profile—a test that shows the levels of LDL (bad cholesterol), HDL (good cholesterol), and triglycerides in your blood—to assess your risk for developing heart disease.
 
What about the risk of liver damage from taking statin medications?
 
The frequency of liver problems with statin therapy is actually quite low. Less than 1 percent of people have to stop taking statins because they develop liver problems. Long-term trials have confirmed the safety of statins—the latest guidelines do not suggest a need to monitor people on statins who have normal liver function. In addition, in some cases where there is evidence of fat deposits in the liver, statin therapy may actually improve liver function tests.
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Mental Health & the Importance of Medication Adherence | RxSafe Podcast Series

Synopsis: Major psychiatric disorders are a growing public health concern that attributed to 14% of the global burden of diseases. The management of major psychiatric disorders is challenging mainly due to medication non-adherence.
There seems to be a scarcity of summarized evidence on the prevalence of psychotropic medication non-adherence and associated factors. Psychiatric disorders have been a global public health challenge. Almost 450 million people are affected by psychiatric disorders worldwide. 
Psychiatric disorders cost approximately $2.5 trillion dollars in 2010 and are expected to rise up to $6.0 trillion by 2030. Mental health disorders are surprisingly common in the United States. Nearly one in five U.S. adults live with a mental health illness, that’s 51.5 million people in 2019. Mental illnesses include many different conditions that vary in degree of severity, ranging from mild to moderate to severe. Lost resources and production, unemployment, absences from work, and premature death are some of the indirect economic costs.
Therefore, we’re excited to discuss this important topic today with three Pharmacist’s focused on Mental Health in their communities and practices.
Tyler Young RPh, is the lead pharmacist with Hines Prescription Shop, a locally-owned pharmacy in Barnesville, Georgia. Tyler helps hundreds of patients become more compliant with their medications by making it simpler with RxSafe Adherence packaging.
Dr. Thomas McDowell, PharmD, is the owner of McDowell’s Pharmacy in North Carolina. Thomas and I have been on several panel discussions in the past, both LIVE in person, and on Zoom. We value Thomas’s insights & look forward to his experiences helping patients with mental health conditions.
Dr. Monica Krishnan, PharmD, is a clinical pharmacist with a practice of over 18 years. She began her career as a inpatient critical care pharmacist at UCLA medical center in 2002. After starting a family and suffering the loss of her husband at a young age, Dr Monica switched paths and joined the field of community pharmacy.
Monica is a personal friend of mine, a member of the Pharmacy Podcast Network leading our ‘Pharmacists Focused on Mental Health’ podcast and currently works with the Walmart Health & Wellness team in Los Angeles.
Dr. Monica plans to continue to spread awareness and education on mental health and hopes to continue working and collaborating with other mental health advocates. She has an incredibly active Instagram which is focused on mental health advocacy.
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