formulary review process

A formulary review process involves evaluating and updating a list of approved medications used by a healthcare plan or pharmacy benefit manager. Experts assess the safety, effectiveness, and cost of drugs, considering new research, clinical guidelines, and patient needs. The goal is to ensure patients have access to appropriate medicines while managing overall healthcare costs. This process typically includes reviewing medication usage patterns, soliciting input from healthcare providers, and making decisions about which drugs to include, modify, or remove from the formulary to optimize patient care and resource utilization.