What does formulary mean in medical terms?
A list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits. Also called a drug list.
What are the different types of formularies?
In most cases, formulary drugs are organized into tiers, based on clinical assessments and negotiated prices obtained by the plans. A typical four-tier formulary might include generic, preferred brand, nonpreferred brand, and specialty tiers.
What is the difference between Pharmacopoeia and formulary?
As nouns the difference between pharmacopoeia and formulary is that pharmacopoeia is an official book describing medicines or other pharmacological substances, especially their use, preparation, and regulation while formulary is a pharmacopoeia or list of available drugs, particularly prescription drugs.
Why do formularies exist?
Drug formularies have a major role in the containment of cost within a healthcare setting. These enable links to GP clinical systems, to provide prescribers with local formulary choices and advice on the latest cost saving, safety and effectiveness issues relating to medicines.
How is a formulary developed?
A drug formulary is a list of generic and brand-name prescription drugs covered by a health plan. The health plan generally creates this list by forming a pharmacy and therapeutics committee consisting of pharmacists and physicians from various medical specialties.
What does formulary stand for in medical category?
Formulary A list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits. Also called a drug list.
How is the formulary of a drug maintained?
The formulary is maintained by an independent committee of practicing physicians and pharmacists. In simple terms, a formulary drug is a list of drugs for which your health insurer agrees to pay (at least partially) for a predefined or specified health condition or disease.
Where can I find the formulary for the NHS?
In the UK, the National Health Service (NHS) provides publicly funded universal health care, financed by national health insurance. Here, formularies exist to specify which drugs are available on the NHS. The two main reference sources providing this information are the British National Formulary ( BNF) and the Drug Tariff.
When do you have to sign up for formulary?
You can enroll in Marketplace health coverage through August 15. Get Answers Search Formulary A list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits.