Glitterworld medicine is the most powerful medicine in RimWorld, being more than twice as powerful as ordinary medicine, and four times as powerful as herbal medicine. Like other medicines, glitterworld medicine is used in doctoring practices.
In terms of Glitterworld medicine's optimal use in regards to its medical potency: Glitterworld medicine is best used in surgical operations and bringing people from the brink of death when it comes to diseases such as the dreaded plague. In the case of wound treatment and normal disease treatment, Glitterworld medicine is significantly overkill unless you have a highly incompetent doctor who simply can't get the job done with ordinary medicine. Even a healthy level 5 doctor will be guaranteed success when it comes to surgery with glitterworld medicine, providing that room sanitation isn't plain awful.
The only way to obtain the coveted Glitterworld medicine is to purchase it from Exotic Goods Traders or faction bases for around 110-140 silver. This is still exceptionally good value from the perspective that you're getting a medicine that can guarantee surgery success for a barely 3-figure price.