Classic Video: Selling Your Pharmacy
Ollin Sykes of Sykes & Company, P.A. is speaking as part of the afternoon-long class “Selling Your Pharmacy: Planning for Success” at the NCPA Convention, Oct. 18-20, 2014. As the NCPA explains, “Selling your pharmacy is an important event that with the …
Classic Video: NCPA Trends: A Rise in Organic Pharmacy Startups
One of the trends apparent at this summer’s NCPA Ownership Workshop is the rise of new independent pharmacy owners who begin their new pharmacy organically rather than buying an existing location. Ollin Sykes of Sykes & Company, P.A., describes the trends and …
Classic Video: Blunders in independent pharmacy accounting
Ollin Sykes of Sykes & Company P.A. talks about mistakes he’s seen independent pharmacy owners make. He also discusses how to fix these errors, and strategies that Sykes & Company has used with clients to help them recover from mistakes they made …
Classic Video: The Key to a Resilient Accounting System
In the midst of flu season, Ollin Sykes addresses the need for independent pharmacies to have a resilient accounting system so that pharmacists can focus on their patients and not worry about their finances. He talks about the one key piece that …
Classic Video: A New Way To Buy a Pharmacy
If you’re looking to buy a pharmacy, seller financing or regional bank financing aren’t your only options. In this video, Ollin Sykes talks about the new choices available when buying a pharmacy, particularly obtaining a loan from a bank that specializes in …
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 …
Improving Pharmacy Profit Margins with Outsourcing
Recently, we talked about the importance of having numbers with integrity in order to improve pharmacy profit margins. In this video, Ollin Sykes discusses your option to outsource the accounting and bookkeeping functions of your pharmacy. Outsourcing through the cloud can help …
Tracking Third-Party Receivables for Your Pharmacy
Should pharmacy owners track their third-party receivables? If so, how should they be doing it? In this video, Scotty Sykes explains the importance of tracking the third-party receivables for your independent pharmacies. He also discusses the importance of managing your third-party receivables …
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 …
