The Key Performance Indicators of the Business of Pharmacy - Pharmacy Podcast Episode 311

  On today's Pharmacy Podcast we welcome returning guests Ollin Sykes with Sykes & Company - Pharmacy Accounting Experts and Jimmy Neil with Live Oak Bank to discuss the Key Performance Indicators of Pharmacy Businesses. Ollin and Jimmy answer the following questions about your pharmacy business:  How does my pharmacy business compare with my competitors? What is included in my cost of goods sold? What is my gross profit (gross margin) percentage and is this reasonable for my pharmacy business? How can I reduce my expenses without compromising my quality or service? What is my breakeven point and why is this important? Which of my products or services are making me the most profit? What can I do to improve my cashflow? How much net profit is my pharmacy making? Is my pharmacy business in a good position financially - will it be able to survive a downturn? How much money do I have invested in the business?     See omnystudio.com/listener for privacy information. Learn more about your ad choices. Visit megaphone.fm/adchoices