Formulary management

Formulary management involves the process of selecting and controlling which medications are available for use within a healthcare system, such as a hospital or insurance plan. It aims to balance the effectiveness, safety, and cost of medications to ensure patients receive the best possible treatments while managing healthcare expenses. A formulary is essentially a list of approved medications, and it is regularly reviewed and updated based on new research, clinical guidelines, and patient needs. This helps healthcare providers create optimal treatment plans and maintain quality care while ensuring financial sustainability.