Final answer:
The tool used by pharmacies to track and improve policies in order to reduce medication errors is the ISMP look alike/sound alike list.
Step-by-step explanation:
A tool used to help pharmacies track and improve their policies to reduce errors is known as the ISMP look alike/sound alike list. This list is published by the Institute for Safe Medication Practices (ISMP) and it provides guidance on medications that have similar names or physical appearances but may have vastly different purposes or dosages. The list is designed to raise awareness among healthcare professionals and reduce the risk of medication errors.