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Related Experiment Video

Updated: Jun 12, 2026

An R-Based Landscape Validation of a Competing Risk Model
05:37

An R-Based Landscape Validation of a Competing Risk Model

Published on: September 16, 2022

The formulary process from a risk management perspective.

Jack H Raber1

  • 1Department of Clinical Pharmacy and Pharmaceutical Economics and Policy, University of Southern California School of Pharmacy, Los Angeles, USA. jraber@clinipharmservices.com

Pharmacotherapy
|May 27, 2010
PubMed
Summary
This summary is machine-generated.

Hospital formularies now require evaluating drug efficacy, safety, cost, and indirect expenses. Pharmacists play a key role in risk management, including adherence to risk evaluation and mitigation strategies (REMS) and black-box warnings.

Related Experiment Videos

Last Updated: Jun 12, 2026

An R-Based Landscape Validation of a Competing Risk Model
05:37

An R-Based Landscape Validation of a Competing Risk Model

Published on: September 16, 2022

Area of Science:

  • Pharmacy and Therapeutics
  • Health Policy
  • Risk Management

Background:

  • Hospital formularies have evolved beyond simple drug lists.
  • Current evaluation includes efficacy, safety, acquisition cost, and indirect costs.
  • Federal regulations mandate additional administrative actions for certain drugs.

Purpose of the Study:

  • To highlight the expanded role of hospital formularies in drug evaluation.
  • To emphasize the importance of considering indirect costs and regulatory requirements.
  • To underscore the critical role of pharmacists in risk management.

Main Methods:

  • Review of the evolution of hospital formulary practices.
  • Analysis of regulatory requirements such as risk evaluation and mitigation strategies (REMS) and black-box warnings.
  • Examination of risk management principles in formulary decision-making.

Main Results:

  • Formulary evaluation now necessitates a comprehensive assessment of direct and indirect costs.
  • Institutions are expected to implement protocols to mitigate risks associated with drug use.
  • Non-compliance with regulations and risk management expectations can lead to sanctions and liability.

Conclusions:

  • Pharmacists are integral to the risk management process for formulary decisions.
  • Effective risk management is crucial for patient safety and institutional compliance.
  • The scope of formulary review has broadened significantly to encompass regulatory and risk considerations.