Classic Video: Blunders in independent pharmacy accounting
Ollin Sykes of Sykes & Company P.A. talks about mistakes he’s seen independent pharmacy owners make. He also discusses how to fix these errors, and strategies that Sykes & Company has used with clients to help them recover from mistakes they made …
Tracking Third-Party Receivables for Your Pharmacy
Should pharmacy owners track their third-party receivables? If so, how should they be doing it? In this video, Scotty Sykes explains the importance of tracking the third-party receivables for your independent pharmacies. He also discusses the importance of managing your third-party receivables …
Classic Video: The Danger of Being a Passive Pharmacy Owner
In this classic video, Scotty Sykes, CPA, CFP® talks about how passive owners can cause a pharmacy to struggle. A more recent video on proactively managing your pharmacy business can be found here: https://www.youtube.com/watch?v=TWj3lkbBiyQ The most successful independent pharmacy owners are fully …
Exemplar Health’s New Small Business Level Funded Solution
Independent pharmacies are competing with the large retail chains and the PBMs they own. Exemplar Health has stepped up in a big way by launching a small group insurance health product that is winning business nationwide. Hear how Exemplar gets you materially …
How to Consistently Improve Your Gross Margins
Achieving a good industry average gross margin can be challenging when managing the expenses the independent pharmacy owner is faced with. In this video, Scotty Sykes of Sykes & Company, P.A. discusses what you can do to consistently improve your gross margins. …
Growth + Adherence + Accuracy + Speed = Increased Profit and Cash Flow
Do you want to improve revenue, accuracy and speed? Do you want to increase profit and cash flow with improved patient adherence? Would you like to do all of this and save money at tax time as well? In this webinar, William …
The Business Value of Selling CBD in Your Pharmacy
Selling CBD products can be very beneficial for independent pharmacies and the communities they serve. It’s an evolving market and there are things that a pharmacist needs to consider before adding CBD products to their pharmacy inventory. In this video, Ollin Sykes, …
Using Script Audit Logs When Analyzing Pharmacy Cash Flow and Profitability
Comparing your script audit logs to your financial statements can help you understand the financial position of your pharmacy. If your pharmacy is in growth mode, your new scripts will be around 50% or more of your total scripts. In this video, …
Pharmacy Data Mining
Data mining, or data analytics, is the use of big data in your script management system with proprietary software that allows you as the pharmacist to maximize your gross margins on scripts filled. Ollin Sykes of Sykes & Company, P.A. explains how …
How Financially Stable is Your Pharmacy?
To help your community as an independent pharmacist, you need to operate a successful business and stay open. The impact of COVID-19 has brought challenges and growth opportunities to pharmacy owners, which Scotty Sykes, CPA, CFP® discusses on the Catalyst Pharmacy Podcast, …