In the context of drug formularies, what is the purpose of a preferred list?

In the context of drug formularies, a preferred list serves to guide the prescribing behavior of healthcare providers and influence patient choices by providing financial incentives. The primary objective is to encourage the use of certain medications—those that are deemed most effective and cost-efficient—by reducing the out-of-pocket costs for patients through lower copayments for these formulary drugs. This approach not only helps manage overall healthcare costs but also aims to improve adherence to medication regimens since patients are more likely to choose medications that are more affordable.

Managing costs effectively while ensuring that patients have access to necessary treatments is essential, and the preferred list is a key component in accomplishing this balance. This allows health plans and insurers to promote specific medications that are clinically appropriate and less expensive.

In contrast, options related to minimizing drug use, exclusively using high-cost drugs, or eliminating all brand-name medications do not align with the fundamental purpose of providing accessible and effective prescription drug coverage. The focus remains on supporting patients and providers in utilizing the most suitable medications.