Classic Video: Top KPIs for Pharmacy Accounting
What are the top key performance indicators (KPIs) that determine the health of a pharmacy? Pharmacy CPA Scotty Sykes shares the top key performance indicators (KPIs) that experienced pharmacy accountants review regularly. He looks at why having accounting fundamentals in place is …
Classic Video: Getting The Most From Your CPA
Is your independent pharmacy CPA proactively looking at your books? Ollin Sykes discusses what you should expect from your CPA to maximize your position as an independent pharmacy owner. He covers how often to talk to your CPA and the number of …
Classic Video: Managing Payroll Costs in Your Independent Pharmacy
Your payroll percentage is a crucial component of your pharmacy’s bottom line net income. In this video, Scotty Sykes of Sykes & Company, P.A., talks about how to get your payroll cost in line with industry standards and best practices. He looks …
Classic Video: 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 …
Classic Video: How Do Changes from Brand to Generic Affect My Pharmacy
In this video Ollin Sykes talks about where independent pharmacies should be in terms of generic pricing gross margins and percentage of generic fills. He gives an example of how a change in price from brand to generic fits into the larger …
Classic Video: One Powerful Pharmacy Growth Strategy
In this video, Ollin Sykes talks about an inexpensive technology that’s proliferating in the independent pharmacy industry and driving significant growth. It helps pharmacy owners to plan better cash flow, maximize inventory and serve their customers better. Find out more in this …
Classic Video: The One Factor That May Be Killing Your Cash Flow
What one simple step can improve your pharmacy’s cash flow? In this short video, Ollin Sykes of Sykes & Company, P.A. talks about the one-time step you can take to improve your cash flow on an ongoing basis. How well is your …
Classic Video: Gross margin expansion ideas for your independent pharmacy
In this video blog, Ollin looks at two ways to improve gross margins for your pharmacy: increasing your generic drug dispensing percentage and including obesity prevention services. Ollin talks about how and why it’s worth taking the time to switch patients to …
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). …