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 …
Buying a Pharmacy vs Creating a Startup Pharmacy
With fewer stores to buy, should you startup a pharmacy? Ollin Sykes explains why you should look at buying an existing store first—and the importance of cash flow in thinking about buying vs starting up. He addresses how much cash you need …
What Are Startup Pharmacy Costs?
If you want to open a startup pharmacy, you may be surprised at all of the costs involved. In this video, Ollin answers questions including: How much cash will you need at startup? What can you expect to pay the experts you’ll …
The Worst Mistakes in Startup Pharmacies
Working with independent pharmacies across the country, Ollin Sykes has seen his share of mistakes and worst case scenarios. In this video he talks about why pharmacists think they’re going to be a success with a startup and fail — and what …
Managing DIR Fees in Independent Pharmacies
“Direct and indirect remuneration” fees are extremely complex. In this video, Ollin Sykes talks about how many independent pharmacy owners don’t know all the deductions that are in play across the thousands of claims in their pharmacies. If you’re not adjusting correctly …
Is Buying a Pharmacy a Good Investment?
Having worked with prospective pharmacy buyers for decades, Ollin Sykes understands how to improve the value of a pharmacy. In this video he talks about what makes a pharmacy a good investment. In addition he gives some steps to take when buying …
Key Mistakes in Buying a Pharmacy
Working with current and future independent pharmacy owners, Ollin Sykes has a keen view into the mistakes that can happen when buying a pharmacy. In this video, he details two of the most common mistakes that he sees, including when the potential …
Best Business Structures for New Pharmacies
If you’re thinking about owning a pharmacy, either buying an existing pharmacy or creating an organic startup pharmacy, Ollin Sykes of Sykes and Company, P.A., has tips about the best business structures. In this video he also discusses how early to begin …
4 Traits of Successful Independent Pharmacy Owners
In this video blog, Ollin Sykes, of Sykes & Company, P.A., talks with Ingenuity’s Marketing’s Rachel Gold about the top four traits he sees in successful pharmacy owners. Whether you already own one or more pharmacies, are thinking about buying a pharmacy, …
