Overcoming Challenges with 340B Contracts Featuring Amanda Gaddy
05/09/24 • 33 min
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 Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Amanda Gaddy, R. Ph. Co – Founder and COO of Secure340B to dive deep into 340B contracts, legislative updates, how DIR fees and the change health care fiasco are affecting contracts, and the impact it can have on your bottom line!
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.
Read and follow along with our transcript by clicking here
(insert transcript link)
More About Amanda Gaddy and Secure340B:
Amanda Gaddy is a pharmacist with over 29 years of experience and the COO & Co-Founder of Secure 340B. Secure340B helps pharmacies navigate the complexities of the 340B landscape and ensure their programs remain efficient and profitable by identifying 340B opportunities in your area, projecting future bottom line outcomes in your pharmacy from 340B contracting, evaluating and restricting any existing programs you may have, and manufacturer price restoration, so your pharmacy can continue to serve your community.
Stay connected with Amanda Gaddy and Secure340B:
Stay connected us:
Facebook
Twitter (X)
LinkedIn
Instagram
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
More resources about this topic:
Resource - Explore 340B Opportunities
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 Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Amanda Gaddy, R. Ph. Co – Founder and COO of Secure340B to dive deep into 340B contracts, legislative updates, how DIR fees and the change health care fiasco are affecting contracts, and the impact it can have on your bottom line!
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.
Read and follow along with our transcript by clicking here
(insert transcript link)
More About Amanda Gaddy and Secure340B:
Amanda Gaddy is a pharmacist with over 29 years of experience and the COO & Co-Founder of Secure 340B. Secure340B helps pharmacies navigate the complexities of the 340B landscape and ensure their programs remain efficient and profitable by identifying 340B opportunities in your area, projecting future bottom line outcomes in your pharmacy from 340B contracting, evaluating and restricting any existing programs you may have, and manufacturer price restoration, so your pharmacy can continue to serve your community.
Stay connected with Amanda Gaddy and Secure340B:
Stay connected us:
Facebook
Twitter (X)
LinkedIn
Instagram
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
More resources about this topic:
Resource - Explore 340B Opportunities
Previous Episode
Bonus Episode: Reimbursement Changes, Diversified Revenue, and More! | Special Appearance with the Pharmacy Owners Alliance
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 discuss KPI updates, new financial benchmarks, opportunities for pharmacies, and more!
Want to read and follow along? Click here for the transcript.
Did you like this episode? Stay up to date on new episodes by liking and subscribing! Click here to learn more about our podcast team and previous episodes.
More about David Mayper:
David Mayper is the Executive Director for the Pharmacy Owners Alliance with more than 30 years of pharmaceutical supplier and trade association experience.
The Pharmacy Owners Alliance is a non-profit organization that includes over 500 member stores including franchisees, former franchisees and independent pharmacies in 36 states whose mission is to preserve, protect, and promote the interests of pharmacy owners.
They provide in-depth analysis of each member’s current purchase patterns and offer advice on the best decisions for purchasing and rebates.
Want to learn more about David Mayper, The Pharmacy Owners Alliance, and stay connected with them? Check out their social media below:
The Pharmacy Owners Alliance Facebook
The Pharmacy Owners Alliance LinkedIn
The Pharmacy Owners Alliance Website
The Pharmacy Owners Alliance YouTube
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
More resources about this topic:
Podcast – Navigating the Complex World of Pharmacy Reimbursements
Podcast – Clinical Services Opportunities for Your Pharmacy
Podcast – Cash Flow and Improving Bottom Line for Long-term Care at Home Pharmacies
Next Episode
Driving Independent Pharmacy Profitability In 2024 With Nicolette Mathey
The independent pharmacy of today is sitting on lots of data and opportunity to expand into areas of healthcare that can help your pharmacy become the healthcare center in your community.
But as a pharmacy owner, how do you know what to do with all the data available to you?
In this week's episode of the Bottom Line Pharmacy Podcast, Nicolette Mathey from Atrium24 shares her insights on long-term care, GLP compounding, the double DIR cliff pharmacies are facing, and more!
Gain valuable pharmacy accounting advice. Schedule an Rx Assessment
Want to read and follow along with this episode? Click here for the transcript.
More about our guest:
About Nicolette & Atrium24:
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 Atrium24, Dr. Nicolette Mathey, PharmD, and Sykes & Company, P.A.!
Atrium24:
Facebook
Website
Sykes & Company P.A.:
Facebook
Twitter (X)
LinkedIn
Instagram
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
Bonnie Bond – CPA Twitter
More resources about this topic:
Podcast – Making Data Work for Your Pharmacy
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