Pharmacoeconomics and Safe Medication Use

criteria for selecting medications into the drug formulary.

Indications for use (FDA label approved and off-label)

Drug interactions

Adverse effects

Sentinel event advisories

May include REMS (Risk Evaluation and Mitigation Strategies) for certain medications (if one

exists)

This FDA medication safety program is for medications with known significant safety concerns (e.g.,

birth defects, hepatotoxicity) that require an understanding of its risks and necessary interventions

that are preventive to safely use the medication.

Cost acquisition and total cost of care: This is a good application of the budget impact analysis. Ideally,

if cost-effectiveness and cost-utility analyses are also available, they should be considered; however, they

are typically not available this early in the drug approval process.

that can improve patient care are reviewed for formulary inclusion.

may be used to improve the treatment of critically ill patients. Critical care pharmacists should collaborate

with intensivists and other experts to request the addition or deletion of a drug from the formulary.

Box 3 lists the elements of a drug evaluation monograph that should be reviewed before a drug is approved

to the hospital formulary.