What is a formulary?

A formulary is defined as a list of medications that have been approved for use within a specific health care system or a health insurance plan. It serves as a critical tool in managing patient care and ensuring that healthcare providers have access to the most effective treatments while also controlling costs. By establishing a formulary, healthcare institutions can promote the use of certain drugs that have been evaluated for safety, efficacy, and cost-effectiveness.

This process often involves a committee that assesses the clinical effectiveness of medications, as well as their impact on patient outcomes and healthcare expenses. As a result, a formulary helps streamline prescribing practices, ensuring that only the most appropriate medications are included for use among patients, which can enhance the quality of care they receive.

The other options pertain to different aspects of pharmacy practice and management but do not accurately describe what a formulary is. For instance, guidelines for pharmacist conduct relate to professional ethics and standards, while procedures for handling complaints involve regulatory frameworks. A marketing strategy focused on promoting new drugs is about business and sales tactics rather than about medication availability in a healthcare setting.