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.

Exemplar Health’s New Small Business Level Funded Solution

Independent pharmacies are competing with the large retail chains and the PBMs they own. Exemplar Health has stepped up in a big way by launching a small group insurance health product that is winning business nationwide.

Hear how Exemplar gets you materially higher rebates and allows you to share in the profitability that is generated by others in the network, resulting in a healthier bottom line.

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Care Plans: From ‘Nuisance’ to Narrative

Care Plans tell the story of a patient’s complete history within your pharmacy and beyond. More so, they paint a picture of how you as a pharmacist have impacted that patient. However, Care Plans only prove a pharmacist’s value to the healthcare system if:

  • Pharmacists provide and prove patient outcomes
  • Data is interoperable

In this webinar, PioneerRx VP of Clinical Strategy Josh Howland explained how to use Care Plans to tell a patient’s story, including the pharmacy’s role, and the importance of sharing that information with an entire healthcare team.

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Inventory Efficiency During the Pandemic and Beyond

Inventory is one of the largest expenses a pharmacy has. Efficiently managing your inventory is critical for pharmacy profits and growth.
In this webinar, Jared Barton of Inventory IQ and Ollin Sykes and Scotty Sykes discussed:
• Why inventory management is key to optimizing your pharmacy cash flow
• How data mining in your inventory management system can lead to growth opportunities
• What inventory management has to do with mitigating your tax liabilities
• How to make inventory management a key part of your pharmacy business strategy

View the recording.

Growing your Pharmacy through Medical Services

In this webinar, Ollin Sykes and Scotty Sykes discuss with David Roth, CMO, and Jason Ausili, Chief Clinical Officer, of FDS Inc. the update on legislative changes from HHS and what pharmacies are doing to set up and increase growth of their medical practices.

During this session, you will learn about: • Legislative changes that are allowing for growth of pharmacy healthcare services • How to set up a medical billing practice • How to prepare for new medical billing opportunities through point-of-care testing and additional revenue streams

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COVID-19 and Pharmacies: Steps to Navigate this New Normal

This unique webinar, presented by Sykes & Company, P.A. and Brown & Fortunato, discusses practical steps that pharmacies can take to make it through this bizarre time. Specific topics to be discussed include: (i) what to do if an employee or patient exhibits COVID-19 symptoms; (ii) Emergency Paid Sick Leave Act; (ii) Emergency Family and Medical Leave Expansion Act; (iii) CARES Act Paycheck Protection Program; (iv) CARES Act Provider Relief Fund; (v) Paycheck Protection Program and Health Care Enhancement Act; (vi) relaxation of rules by PBMs; (vii) temporary FDA guidance for compounding of certain drugs; and (viii) how pharmacies can become COVID-19 testing centers.

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Coming out of COVID: How to boost RX Business and Cash Clinical Services

In this webinar Sykes & Company, P.A. and Atrium24, LLC, discusses how to:

• Diversify your revenue streams away from PBMs, DIR and GER headaches • Help your patients feel better, and become less reliant on medications • Empower your pharmacists to practice what they went to school for, enabling happier, more fulfilling work for your team • Become the go-to in your community for clinical testing and high quality supplements • Increase joy in your business

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340B: How to Thrive in an Unfamiliar Space

340B is a unique area that can help you diversify revenues, increase your bottom line and enhance cash flow.  However, not all 340B contracts are the same and in some instances you may even lose money.

In this webinar Sykes & Company, P.A. and Eric Fromhart with Secure340B discuss insights to empower your pharmacy and optimize 340B opportunities.

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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.

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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.

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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.

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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.

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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.