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How to use structured decision making in developing therapeutic, cost-effective formulary systems.
1Parkland Memorial Hospital, Dallas, TX 75235.
Hospital Formulary
|October 1, 1993
Summary
Formulary decision-making needs to balance financial factors with patient outcomes. Three methods—inventory management, cost accounting, and criteria-based protocols—aid in effective therapeutic formulary development and management.
Area of Science:
- Health Economics
- Pharmaceutical Policy
- Clinical Pharmacy
Background:
- Current formulary decision-making often prioritizes financial factors over clinical and patient outcomes.
- Pharmacy and Therapeutics (P&T) Committees should ideally consider all economic and clinical consequences of formulary decisions.
Purpose of the Study:
- To advocate for an evolution in formulary decision-making processes.
- To introduce and describe methods for improved formulary selection and management.
Main Methods:
- The article describes three distinct approaches: inventory management, cost accounting, and criteria-based protocols.
- These methods are presented as tools to assist P&T Committees in their evaluations.
Main Results:
- Each of the three described methods offers a valuable contribution to formulary management.
- A comprehensive approach integrating these methods can lead to more effective formulary systems.
Conclusions:
- Formulary systems must integrate clinical and patient outcomes alongside financial considerations.
- Inventory management, cost accounting, and criteria-based protocols are essential components for developing and managing effective therapeutic formularies.