Classic Video: The Worst Mistakes in Startup Pharmacies
This is a classic video by Ollin Sykes. View our most recent video on mistakes made by 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 …
Classic Video: Key Mistakes in Buying a Pharmacy
This is a classic video by Ollin Sykes. View our most recent video on key mistakes when 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 …
Classic Video: Managing DIR Fees in Independent Pharmacies
This is a classic video by Ollin Sykes. View our most recent video on how to manage DIR fees. “Direct and indirect remuneration” fees are extremely complex. In this video, Ollin Sykes talks about how many independent pharmacy owners don’t know all …
Pharmacy Start-up Costs: Leases/Facility Planning
Pharmacy start-up costs can mount quickly if not carefully monitored. It is important to carefully consider the terms of the lease and conduct thoughtful facility planning when opening a new independent pharmacy. In this video, Ollin Sykes, CPA and Bonnie Bond, CPA …
How Does the Inflation Reduction Act Affect Pharmacies?
Note: This video was recorded prior to the House vote and President Biden signing the Inflation Reduction Act of 2022 into law. In this episode of The Bottom Line Pharmacy Podcast, join the Sykes & Company, P.A. team as they discuss the …
Pharmacy Accountants Recap 2022 Trade Show Circuit
In this lighthearted, yet educational episode of our new The Bottom Line Pharmacy Podcast, join the Sykes & Company, P.A. team as they recount memories and takeaways from their tour of the independent pharmacy trade show circuit in 2022. Pharmacy accountants and …
QuickBooks Options for Your Pharmacy and How to Choose
It’s important to have the right tools in place for your pharmacy accounting. QuickBooks is one of the main tools that independent pharmacies rely on, but which version is right for your pharmacy accounting? In this video, Ollin Sykes, CPA, and Kathy …
Basic KPI for Successful Pharmacies
There are a few important key performance indicators (KPIs) that pharmacies need to be concerned with. Liquidity ratios are one of the most important KPIs for independent pharmacies today. In this video, Ollin Sykes of Sykes & Company, P.A. shares how to …
Focus on DIR Fees: Three Ways to Manage Them
When looking at the P&Ls of many independent and community pharmacies, DIR fees are now the third largest expense to impact store cash flow and profitability. Although more and more third party reconciliation systems are reporting monthly DIR fees and related adjudication …
