What does the term "formulary" refer to?

The term "formulary" refers specifically to a list of medications that are approved for coverage by a particular health plan or insurance provider. This list systematically outlines which medications are covered under a pharmacy benefit, making it crucial for both patients and healthcare providers to understand what medications will be reimbursed and the associated costs.

Having a formulary helps manage healthcare costs and ensure that patients have access to medications that are deemed to be effective and safe. It typically includes both generic and brand-name drugs, along with information on any limitations or prior authorization requirements that may be necessary for certain medications.

Other options, while related to medications, do not accurately capture the essence of what a formulary represents. A list of over-the-counter medications does not address prescription coverage, a guide for prescribing practices focuses on clinical guidelines rather than coverage, and documentation of clinical trials pertains to research rather than what medications are covered by insurance.