What is the main reason for using a closed formulary in pharmacy practice?

The primary reason for using a closed formulary in pharmacy practice is to streamline medication selections. A closed formulary is a restricted list of medications that are approved for use within a specific health system or insurance plan. By limiting the number of medications available, it simplifies the prescribing process for healthcare providers, allowing them to focus on a curated list of effective treatments that meet the institution's therapeutic standards and cost-effectiveness criteria.

This approach can enhance efficiency in the pharmacy by reducing the complexity of medication management and making it easier for pharmacists to ensure that providers have access to the most up-to-date information regarding the medications on the formulary. Additionally, it helps in cost control measures, as fewer medication options mean there’s a better chance of negotiating lower prices with suppliers and ensuring that resources are managed efficiently.

In other contexts, while reducing inventory costs, increasing physician autonomy, and encouraging patient choice might seem relevant, they do not encapsulate the primary goal of a closed formulary, which lies in the simplification and optimization of medication use within a healthcare setting.