FAQ Regarding SBA Expanded EIDL Program
The U.S. Small Business Administration (SBA) recently announced that it is quadrupling the Economic Injury Disaster Loan (EIDL) cap from $500,000 to $2 million. Answers to many questions pharmacy owners have regarding the EIDL can be found in the new FAQ Regarding …
Have You Discovered Sykes University for Pharmacies?
Accountants and advisors who focus on independent pharmacies are very different from bookkeepers. At Sykes & Company, P.A., we offer guidance and resources for all aspects of your pharmacy business, including staff training. Before considering our services, visit Sykes University. We work …
Fixing Your Independent Pharmacy Accounting Mystery
Is the accuracy of your independent pharmacy financial statements a mystery? Maintaining monthly accrual-based financial statements helps to ensure that your accounting information is up-to-date and accurate. Ollin Sykes, pharmacy CPA, describes the information you will want to collect monthly to better …
Working With — Not Against — PBMs
It makes business sense for an independent pharmacy to work collaboratively with PBMs, as opposed to having an adversarial relationship. This Master the Margin webinar hosted by Sykes & Company, P.A. discusses exactly how the pharmacy can work with PBMs on a …
After COVID-19: Growth Opportunities for an Independent Pharmacy
Growth opportunities for independent pharmacies after COVID-19. Ollin Sykes, pharmacy CPA, describes the role of the independent pharmacy as community healthcare provider post COVID-19. Independent pharmacies have new opportunities to interact with patients about prescriptions, vaccinations and various clinical services. Learn more …
How the Cash Accounting Method Can Optimize Tax Savings
Numerous funding programs issued in 2020 have provided independent pharmacies with the opportunity to optimize cash flow and tax savings. After many pharmacies received Paycheck Protection Program (PPP) relief loans, Small Business Administration (SBA) debt relief and Economic Injury Disaster Loan (EIDL) …
Financial Essentials: Year-End Pharmacy Accounting Strategies
Scotty Sykes, CPA joined Tricia McCleskey at PioneerRx to host a webinar, Financial Essentials. In this webinar Scotty and Tricia talk through important steps to take when preparing your pharmacy for 2021 and how fundamental accounting can support where you want your …
States Gain Power to Regulate PBM Rate Reimbursements, Supporting Independent Pharmacies
With the 2020 Supreme Court ruling, Rutledge v. Pharmaceutical Care Management Association, states have gained power to require PBMs to reimburse pharmacies for drugs at a rate equal to or higher than the pharmacies’ wholesale cost. The unanimous 8-0 opinion stated that …
Reimbursement Trends and Tools Available to Independent Pharmacies
In this webinar, special guest Jesse C. Dresser, Esq. from Frier Levitt law firm discusses trends in PBM and payer reimbursement rates for independent pharmacies, including the potential impact of a recent Supreme Court decision in favor of independent pharmacies. Fortunately, legal …
