What does the term 'formulary' refer to?

The term 'formulary' refers to a comprehensive list of medications that are approved for use within a specific healthcare system, such as a hospital or insurance plan. This list typically includes medications that have undergone a review process to ensure they are safe, effective, and cost-efficient for treatment within that system. The formulary may also provide crucial information regarding drug usage, including dosage guidelines and preferred therapies, promoting optimal patient care and streamlined prescribing practices.

This definition distinguishes it from other related concepts. For instance, the process of drug approval is a regulatory aspect that involves extensive testing and evaluation before a drug can be marketed and sold. Similarly, a guide for drug prescribing in emergencies would focus on acute scenarios rather than an authorized list limited by specific healthcare policy or formulary considerations. Additionally, a list of patients eligible for drug trials pertains to research and clinical studies, which is entirely different from the established drug listing in a formulary.