My students and I started playing around with this practice drill last week. It's an accuracy drill to clean up notes, fingering and wonky timing.
Sight Reading Tips
While cleaning up some archived entries on my teaching blog, I found this one on sight reading tips, called (predictably) Sight Reading Tips. Here are some other articles and vblogs that I've come across that also address how to practice sight reading.
Practicing Piano Technique by the Root
Music Practicing 101: Every Other Bar Drill
Another Way to Practice Technique
This is more for the advanced students, music teachers and anyone who wants to learn jazz chords and scales. The bottom line is that instead of practicing your technical exercises by key, you are practicing them by their shared root: Getting Started on Jazz Technique - Musespeak Studio