The Bottom Line Pharmacy Podcast – Building a Competitive Edge
How can an independent pharmacy build a competitive edge in the market by becoming the recommended pharmacy for health care professionals? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, and Scotty Sykes, CPA, CFP® are excited …
Master the Margin: Innovator Series
Hear directly from successful pharmacy owners in our Master the Margin: Innovator Series. If you are planning a start-up pharmacy right now or you want guidance on how to grow, don’t miss these stories of pharmacy business innovation. In this webinar, hear …
Master the Margin: Cash Flow – Where Is It and How to Get It
Independent pharmacy accounting is challenged with maintaining cash flow due to many factors. In this Master the Margin webinar, we spoke with Craig Robinson of RxCherryPick to find out where pharmacy cash flow is going and how to get it back. In …
COVID-19 Pharmacy Update: Attracting New Patients
As independent pharmacies offer COVID-19 vaccinations, opportunities to attract and retain new patients increase. Ollin Sykes, CPA predicts that independent pharmacies will see a larger supply of vaccinations into the second quarter of the year, which will provide more growth opportunities for …
5 Ways to Diversify Services in Your Pharmacy
As the coronavirus disease 2019 (COVID-19) hits record levels in many cities, pharmacists play an integral role supporting nationwide vaccinations. Times like these serve as perfect opportunities to discuss pharmacy service diversification. In community and independent pharmacies, additional services can make a …
Increase Cash Flow with COVID Testing
In this special Master the Margin webinar, we invited guest Nicolette Mathey, owner of Atrium 24, to share her personal experience and knowledge about setting up an independent pharmacy as a COVID-19 testing site. Scotty Sykes, CPA, CFP® and Kathy Blanchard from …
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 …
DIR Fees: Accounting and Tax Treatment
How should pharmacies treat DIR (Direct and Indirect Remuneration) fees from an accounting and tax perspective? Ollin Sykes of Sykes & Company, P.A. explains the complexity of DIR fees. He also shares how to track these fees and keep your pharmacy reporting …
Technology, Security and Your Pharmacy
Cybersecurity is a hot topic in all areas of business, and it is also gaining traction in the pharmacy industry. Pharmacies collect Personally Identifiable Information (PII) and Protected Health Information (PHI) from their patients to dispense prescription drugs and to maintain appropriate …
Gross Margin Expansion Ideas Updated
What’s the single most important aspect of operating your pharmacy profitably in 2016 and beyond? In this video, Ollin Sykes adds to his popular “Gross Margin Expansion Ideas” video (https://youtu.be/7j_mD0dJ1Do) with a new tip that’s crucial in a world of shrinking pharmacy …
