Which of the following describes a formulary?

A formulary is best defined as a limited list of drugs that are approved for use within a specific healthcare setting, such as a hospital or pharmacy. This list is curated based on several factors, including clinical efficacy, safety, and cost-effectiveness. It serves to guide healthcare providers on the preferred medications, supporting both patient care and the efficient management of resources.

In contrast, a complete list of all available medications would not be practical or useful in a formulary context, as it would be too broad and include many non-essential or rarely used drugs. A list of drugs that are out of stock would not serve the purpose of a formulary, which is to provide guidance on available and recommended medications. Similarly, a patient-specific medication list is tailored for individual patients and does not reflect the broader selection of medications that a formulary would encompass. Thus, the correct definition of a formulary is focused on the limited, curated list of medications intended for use within a particular clinical setting.