Final answer:
Hospital formularies vary and don't include all drugs; selections are based on clinical guidelines and several factors that aim to ensure patient care and safety. The FDA regulates drug safety, leading to safe medications but also delayed access to new drugs for patients while testing occurs.
Step-by-step explanation:
Not every hospital has the same formulary, which is a list of medications approved for use within that institution. Formularies do not include all drugs, as they are carefully selected based on factors such as clinical guidelines, safety, efficacy, and cost-effectiveness. The decisions about which drugs are included in a formulary are typically made by a committee that includes pharmacists and physicians, taking into account best practices, evidence from clinical trials, and the needs of the patient population the hospital serves. It's a balance of ensuring patient quality of life, managing treatment costs, and maintaining individual privacy in health records.
When it comes to pharmaceutical drugs' development and approval, the Food and Drug Administration (FDA) plays a crucial role in ensuring safety and efficacy for the consumer. The rigorous testing and approval process can take years, which is beneficial in protecting patients from potentially harmful drugs, but can also result in delayed access to new treatments for patients, making these patients the more anonymous losers in the regulation system.