What is a formulary?

A formulary is a comprehensive list of medications that have been evaluated and approved for use within a specific healthcare system or pharmacy. It serves as a guide for healthcare professionals, ensuring that they are prescribing and dispensing medications that meet certain criteria for efficacy, safety, and cost-effectiveness. The inclusion of medications in a formulary usually follows a systematic review process, where the benefits and risks of each drug are assessed.

The importance of a formulary lies in its ability to standardize medication use, minimize errors, and improve patient outcomes by promoting evidence-based therapies. Healthcare facilities often update their formularies to reflect new clinical evidence, changes in drug availability, and shifts in treatment protocols.

This definition clearly distinguishes the concept of a formulary from other options. A set of regulations for pharmacy practices pertains to legal and operational standards rather than specific medications. A document detailing the side effects of drugs focuses solely on safety information and does not encompass the broader scope of approved medications. Lastly, a schedule for medication dispensing relates to the timing of administration rather than the selection of medications that can be used in patient care. Thus, option B is the most accurate and relevant definition of a formulary.