Epocrates has released version 2.0 of their free clinical reference application for the iPhone and iPod touch.

The update brings several enhancements to their free offerings and adds compatibility with Epocrates Essentials, their subscription-based premium content.

Epocrates Rx, the free component to the application, offers a drug reference that includes identification, dosing, side effect, reaction, full pricing and insurance information, as well as a drug interaction database. It also includes MedMath, a collection of over 35 medical calculators. No doubt proves how useful a tool the iPhone can be.

There’s also the paid component (one of the more expensive iPhone apps) available for 1 or 2 year subscription for $149 and $249 respectively. It provides detailed breakdowns of disease information and treatments, and data for over 600 “alternative” medications. I can imagine many doctors and such using an application like this for reference material.