What is the primary function of formulary management in medication use?

The primary function of formulary management is to ensure the availability of only safe, effective, and cost-efficient medications. This process involves the evaluation of medications based on their clinical efficacy, safety profile, and cost-effectiveness, allowing healthcare providers to make informed choices that optimize patient outcomes while managing resource utilization. By carefully curating the medications included in a formulary, healthcare institutions can promote the use of treatments that provide the best overall value to both patients and providers.

Formulary management helps in standardizing medication use within a healthcare system, thereby reducing variability and enhancing the overall quality of care. It plays a crucial role in guiding physicians in their prescribing decisions, ensuring that patients receive medications that are supported by evidence-based guidelines, while also considering the financial implications for both the healthcare system and patients.

This approach also supports efforts to control healthcare costs by encouraging the use of cost-effective options without compromising on the quality of care, thus aligning with the broader goals of healthcare management.