Improving Pharmacy Profit Margins with Outsourcing
Recently, we talked about the importance of having numbers with integrity in order to improve pharmacy profit margins. In this video, Ollin Sykes discusses your option to outsource the accounting and bookkeeping functions of your pharmacy. Outsourcing through the cloud can help …
Backing Up Your Business Data
What does Sykes Technology recommend for backing up business data? In this video, Chris Sykes explains the benefits of using a backup appliance. He also discusses why backing up your business data is so important to disaster recovery (DR). …
How to Improve Pharmacy Profit Margins
Ollin Sykes discusses “numbers with integrity” in pharmacy accounting that, taken together, can improve profit margins. He also shares the number one reason that some pharmacies experience better margins than others. …
Add Value Using the Sykes & Company, P.A. Exclusive Pharmacy Accounting Model
Scotty Sykes, CPA, CGMA describes how Sykes & Company, P.A. helps pharmacy owners with accounting, tax and advisory services. Find out how we can add value beyond the financial statements, balance sheets and profit and loss statements you receive from QuickBooks. Our …
Spot a Hacked Email or Bad Website
In this video, IT expert Chris Sykes advises that bad emails and websites are the most common attacks (vectors) for hackers to breach business systems. Learn what hackers are looking for and how to spot a bad email — improving your user …
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 …
Pharmacy Business Meals & Entertainment
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act. This Act completely reformed many areas of tax law including meals and entertainment rules. These rules will impact just about every pharmacy in the industry, and they …
Pass-through Deduction for Qualified Income from the Pharmacy
The last time major tax reform was signed into law I was a one-year old baby in 1986. But sure enough The Tax Cuts and Jobs Act is finally here after all these years and it’s quite a change. One of the …
Classic Video: Key Tax Reform Issues That Impact Pharmacies
Below are a few of the key changes that potentially impact you and your pharmacy following the Tax Cuts and Jobs Act of 2017. A flat tax rate of 21% for C Corporations could be a positive change for the C Corporation …
Protect Your Pharmacy Data from Hackers
In this video, IT expert Chris Sykes talks about why hackers target small business owners, especially those in the medical industry. He shares the types of data that hackers find valuable, and why security awareness training is so important to manage your …
