Fundamentals of Pharmacy Accounting
Fundamental accounting is a key component to financial success in independent pharmacies and provides a clearer picture for you to understand how your pharmacy is performing. In this video, Megan Perry, CPA, and Kathy Blanchard of Sykes & Company, P.A. share how …
How to Use Pioneer Reports to Improve Your Cash Flow
Many pharmacies lack fundamental accounting. Without proactive pharmacy cash flow management, it is difficult to achieve the growth you want. In this webinar, Scotty Sykes and Sarah Phillips of Sykes & Company, P.A. discuss how the use of Pioneer Reports can help …
Pharmacy Tax Planning for Year-End
Tax planning is a year-long process for independent pharmacies and even more so with the recent tax reform. In this video, Scotty Sykes of Sykes & Company, P.A. shares which pharmacy KPIs are important to monitor throughout the year as they relate …
The Impact of Proactive Accounting on Independent Pharmacies
While most accountants can manage basic bookkeeping and provide you with standard monthly accounting, working with a pharmacy-specific accountant provides you with insight that can help your pharmacy perform at its best. In this video, Bonnie Bond of Sykes & Company, P.A. …
Why You Need a Pharmacy Specific CFO
Growth increases the complexity of pharmacy accounting. This makes working with a CFO with pharmacy experience critical for your independent pharmacy’s continued growth. CFOs with pharmacy experience understand the metrics and pharmacy KPIs. In this video, Scotty Sykes, CPA, shares the benefits …
Why Mature Pharmacies Need Transaction Advisory Services
Who are the advisors that a mature pharmacy should have on hand to support growth? In this video, Ollin Sykes, CPA, discusses the transaction advisors that mature pharmacies should be sure to have on their advisory team, beginning with a pharmacy CPA. …
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, …
The Hidden Fee That Affects Accurate Revenue
Direct and Indirect Remuneration (DIR) fees are only recently being recognized by script management systems and it’s critical that pharmacy owners engage with a pharmacy specific accountant. In this video, Ollin Sykes of Sykes & Company, P.A. discusses why it’s important to …
Non Traditional Services Used to Improve Pharmacy Margins
Non traditional services can help you improve your independent pharmacy’s margins. In this video, Scotty Sykes talks about which services make a difference for pharmacies. He discusses medication adherence for patients, compounding, travel vaccinations, specialty over-the-counter medications and more. He also provides …
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. …
