We are excited to welcome industry leaders and advisors for our webinar series called Master the Margin, where we will address inventory management, pharmacy accounting, buying a pharmacy, pharmacy growth, selling a pharmacy and will answer all your questions about these areas and more.

On this page you will find the recordings for each webinar and other related resources. Sign up to receive updates when new recordings are added.

CBD for Increased Patient Outcomes and Pharmacy Profits

Cannabis, CBD, THC, Hemp – these terms are all becoming commonplace in the healthcare industry, but what do they mean for independent pharmacy?

It’s simple – Independent pharmacists are primed to OWN the CBD market! This is an opportunity to tap into a product that can not only improve patient care but also your pharmacy’s cash profits. However, in the wild west of a new industry, it’s critical to know how to separate the hype from the facts and how to avoid “bad players” in the name of safety and effectiveness.

In this webinar you’ll learn:

• The difference between hemp and cannabis, as well as full-spectrum and isolate products
• Why CBD is legal and what this means for the highly-regulated pharmacy industry
• The potential therapeutic benefits and tips for discussing CBD with patients
• Strategies for marketing to patients and physicians… from an owner and Sykes & Company, P.A. client who sells $80,000 of CBD a MONTH!
• How to capitalize the revenue stream CBD presents independents (that the PBMs can’t touch!)
• How to get started and ensure you’re working with a legal, high-quality distributor

View the recording.

Growth + Adherence + Accuracy + Speed = Increased Profit and Cash Flow

Do you want to improve revenue, accuracy and speed? Do you want to increase profit and cash flow with improved patient adherence? Would you like to do all of this and save money at tax time as well? In this webinar, William Holmes and Brady Chatfield from RxSafe and Ollin Sykes CPA and Bonnie Bond CPA from Sykes & Company, P.A. discussed how adherence packaging can grow your pharmacy and save you money on the bottom line.

View the recording.

Buying and Selling Pharmacies: The Right Path to Financial Independence

Owning and operating an independent pharmacy is highly competitive, but it can also be highly profitable with the right legal and accounting advisors. In this webinar, Ollin Sykes, CPA, and Scotty Sykes, CPA, of Sykes & Company, P.A. and Jeffrey Baird, J.D., chairman of the Health Care Group of Brown & Fortunato, P.C., discussed the legal and financial issues — and hurdles — of buying or selling a pharmacy.

Learn why certain KPIs of the pharmacy are so important when valuing a pharmacy operation. If selling a pharmacy, how do you improve operations to increase profits at the time of sale? As a buyer, how can a knowledgeable CPA and attorney guide you through acquisition or start-up options while also setting the stage for your success? Learn how to find the right path toward buying or selling.

View the recording.

Top Legal Issues Impacting Your Pharmacy

Ollin Sykes, Sykes & Company, P.A.
Scotty Sykes, Sykes & Company, P.A.
Jesse C. Dresser, Esq., Frier Levitt

Legal matters not only impact your pharmacy operations, but they also impact your bottom line. This webinar discussed the top legal issues as they related to the pharmacy industry today and how these issues correlate to the day-to-day accounting and cash flow management of the pharmacy.

View the recording.

Inventory Management

Ollin Sykes, Sykes & Company, P.A.
Scotty Sykes, Sykes & Company, P.A.
Dave Belinski, Datarithm

Find out how inventory management systems help you not only manage your inventory but also increase profits, control your inventory expense and assist in making the transition to perpetual inventory.

View the recording.

Improve Cash Flow with Inventory Management Best Practices

Ollin Sykes, Sykes & Company, P.A.
Scotty Sykes, Sykes & Company, P.A.
Jared Barton, Inventory IQ

Inventory is one of the largest expenses a pharmacy has. Efficiently managing your inventory is critical for pharmacy profits and growth. In this webinar, we addressed how important it is for a retail pharmacy to manage their inventory.

View the recording.

RESOURCES

We put together a selection of videos on YouTube related to the webinar discussion topics.

If you missed the opportunity to maximize the benefits from the Tax Cuts and Jobs Act for the 2018 filing season, it isn’t too late! Let Sykes & Company, P.A. analyze your pharmacy’s financial information and review for critical deductions.

SCHEDULE A MEETING

Use our online scheduling system to choose a convenient time for a call with Ollin Sykes or Scotty Sykes.