Formulary management is uniquely dynamic and requires extensive and timely pharmaceutical knowledge as well as an understanding of the medical community practice standards that exist within the health care system. A Pharmacy and Therapeutics Committee (P&T Committee) is ultimately responsible for developing, managing, updating, and administering the formulary system that is utilized by managed health care systems.
- Pharmacists who serve on P&T Committees, or who prepare materials for these Committees, must know:
- How to evaluate the best available scientific evidence
- Evaluate clinical and economic outcomes
- Weigh a drug use and its impact on patient population outcomes
- Conduct cost/benefit analyses
- Relate drug therapy choices to practice guidelines.
Development of these necessary formulary management skills will help managed health care systems achieve the challenging goals of improving the quality of patient care while controlling scarce healthcare resources. The P&T Competition develops these skills, thanks to the support of our generous partners.