What is a medication formulary?

A medication formulary is best defined as a list of medications approved for use within a healthcare system. This list serves as a critical tool for healthcare providers, ensuring that they have access to medications that meet safety, efficacy, and cost-effectiveness criteria. By maintaining a formulary, healthcare systems can promote the use of preferred medications, streamline treatment protocols, and facilitate better management of medication inventory.

This concept plays an essential role in pharmacy and medication management, guiding prescribing practices and ensuring that patients receive appropriate treatments within the guidelines established by the healthcare system. The formulary may also include information about drug interactions, contraindications, and alternative medications, further aiding healthcare professionals in making informed decisions about patient care.