formulary

Definition

The official list of medications a hospital or insurance plan will actually pay for without requiring a blood sacrifice and three forms. If your doctor prescribes something not on the formulary, prepare for insurance company gymnastics.

Example Usage

The medication isn't on our formulary, so you'll need prior authorization, which takes two weeks and a letter from the Pope.

Origin

From Latin 'formula' meaning 'prescribed form,' used in pharmacy since medieval times

Fun Fact

Formularies are often determined more by pharmaceutical company rebates than by clinical effectiveness, which is capitalism working exactly as intended.

Source: Healthcare administration and pharmacy terminology

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