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Step therapy is a managed care process that typically requires patients to try one or more specified medications, usually the most cost-effective or first-line treatments, before they can access more expensive or alternative treatment options. This approach aims to ensure that the least costly treatment is attempted first, potentially improving patient outcomes and reducing overall healthcare costs.

When patients do not achieve the desired results from the initial treatments, they may then be deemed eligible to access more advanced therapies. This requirement is designed to promote the use of effective, lower-cost treatments while still allowing for flexibility when those treatments do not work, ensuring that patients receive comprehensive care based on their individual needs.

The other options do not accurately describe the primary characteristic of step therapy: pricing structure may be involved but isn't a core requirement, immediate access to any medication contradicts the fundamental concept of step therapy, and solely offering the cheapest medication disregards the rationale behind evaluating treatment effectiveness.