AMCP looks at medication management from the cost effective perspective- so yes, formulary management is a valuable tool that utilizes this principle. The organization takes a very "macro" look at patient care- advocating for MTM reimbursement, healthcare reform, etc.
Pharmacists in AMCP range from those working in MCOs & PBMs to MSLs working for Pharma. So yes, managed care is "business" oriented, but very clinical and as well.