Pharmacy Audit Masterclass: Strategies for Audit Success Featuring Trenton Thiede, President of PAAS National
10/17/24 • 33 min
Navigate pharmacy audits in this masterclass!
In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Trenton Thiede, President of PAAS National to discuss all things Pharmacy Audits including:
- Best practices for copay collection
- Current trends and tactics in PBM audits
- Proactive strategies that reduce audit risks
Join the discussion with us!
Stay up to date on new episodes by liking and subscribing
Want to read and follow along with this episode? Click here for the transcript:
More about our guest:
Trenton Thiede is the President of PAAS National (Pharmacy Audit Assistance Service).
Trenton started his journey working at Shopko, a community pharmacy, in 1999 for15 years, holding positions as Pharmacy Manager and Regional Pharmacy Supervisor while completing his PharmD from UW-Madison and MBA from UW-Oshkosh.
In 2013, Trenton took over Shopko’s Long-Term Care division and helped divest it to KPH HealthCare (Kinney Drugs/HealthDirect). There, he helped grow their business throughout the Midwest, eventually servicing 20,000 beds in just under four years.
In 2018, Trenton joined PAAS and oversees the daily operations as President. With his operations experience, Trent knows what’s involved, and at stake, with pharmacy audits; taking pride in helping independent pharmacies win against ruthless PBMs.
Learn more about Trenton and PAAS National:
Stay up to date on new episodes by liking and subscribing!
Stay connected with us on social media:
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
More resources on this topic:
Navigate pharmacy audits in this masterclass!
In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA sit down with Trenton Thiede, President of PAAS National to discuss all things Pharmacy Audits including:
- Best practices for copay collection
- Current trends and tactics in PBM audits
- Proactive strategies that reduce audit risks
Join the discussion with us!
Stay up to date on new episodes by liking and subscribing
Want to read and follow along with this episode? Click here for the transcript:
More about our guest:
Trenton Thiede is the President of PAAS National (Pharmacy Audit Assistance Service).
Trenton started his journey working at Shopko, a community pharmacy, in 1999 for15 years, holding positions as Pharmacy Manager and Regional Pharmacy Supervisor while completing his PharmD from UW-Madison and MBA from UW-Oshkosh.
In 2013, Trenton took over Shopko’s Long-Term Care division and helped divest it to KPH HealthCare (Kinney Drugs/HealthDirect). There, he helped grow their business throughout the Midwest, eventually servicing 20,000 beds in just under four years.
In 2018, Trenton joined PAAS and oversees the daily operations as President. With his operations experience, Trent knows what’s involved, and at stake, with pharmacy audits; taking pride in helping independent pharmacies win against ruthless PBMs.
Learn more about Trenton and PAAS National:
Stay up to date on new episodes by liking and subscribing!
Stay connected with us on social media:
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
More resources on this topic:
Previous Episode
SERIES: Master The Margin | Pharmacy Leasing 101: Capital Lease vs. Operating Lease
Capital Lease vs. Operating Lease 101: What’s the difference and how does it impact your pharmacy?
In this episode of Master The Margin, Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant take a deep dive into:
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Stay up to date on new episodes by liking and subscribing!
Read and follow along with this episode at the show transcript.
Stay connected with us on social media:
Sykes & Company P.A.:
YouTube
Hosts
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
More resources about this topic:
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Next Episode
SERIES: Master The Margin Episode 5 | Tax Reform Update: 2025 Changes to the Tax Cuts and Jobs Act
In 2017, the first major tax reform in over 30 years passed and it had a tremendous impact on independent pharmacies.
Now, with the 2024 election right around the corner, many of these items could see a change!
In this episode of Master The Margin, we're taking a step back from exploring the Balance Sheet and diving into an urgent update on the Tax Cuts and Jobs Act.
Scotty Sykes goes over:
- What's in the Tax Cuts and Jobs Act.
- Updates to Tax Items That Affect Independent Pharmacies.
- Election Impacts and Changes You Can Expect in 2025 tax reform.
Did you like this episode? Stay up to date on new episodes by liking and subscribing!
Read and follow along with this episode at the show transcript
Stay connected with us on social media:
YouTube
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
More resources on this topic:
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)
The Bottom Line Pharmacy Podcast: Sykes & Company, P.A. - Pharmacy Audit Masterclass: Strategies for Audit Success Featuring Trenton Thiede, President of PAAS National
Transcript
Scotty Sykes, CPA, CFP®: Well, welcome everybody to another episode of The Bottom Line Pharmacy Podcast today. We have Trenton Thiede Did I get that right?
Trenton Thiede: You got it. Yep.
Scotty Sykes, CPA, CFP®: With PAAS national. I kind of like that. It kind of rolls off the tongue nice Thiede with PAAS and I'm sure everybody here is familiar with PAAS if you've been to any trade show If you were at any trade show this summ
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