Katelyn Baker
Well-Known Member
The University of Georgia isn't blowing smoke when it comes to medical marijuana.
According to a study by UGA researchers published in the July issue of Health Affairs, medical marijuana has a positive impact on the bottom line of Medicare's prescription drug benefit program in states that have legalized pot for medicinal purposes.
"The savings, due to lower prescription drug use, were estimated to be $165.2 million in 2013, a year when 17 states and the District of Columbia had implemented medical marijuana laws," UGA reported. "The results suggest that if all states had implemented medical marijuana the overall savings to Medicare would have been around $468 million."
The school added compared to Medicare Part D's 2013 budget of $103 billion, those savings would have been 0.5 percent. But it's enough of a difference to show that, in states where it's legal, some people are turning to the drug as an alternative to prescription medications for ailments that range from pain to sleep disorders.
UGA noted the findings can give policymakers and others another tool to evaluate the pros and cons of medical marijuana legalization because medical marijuana is such a hot-button issue.
"The results suggest people are really using marijuana as medicine and not just using it for recreational purposes," said the study's lead author Ashley Bradford.
To obtain the results, the researchers combed through data on all prescriptions filled by Medicare Part D enrollees from 2010 to 2013, a total of over 87 million physician-drug-year observations. Full study and methodology here.
In Florida, the use of marijuana for medical purposes has been a hot topic at the capitol.
Daniel Macris, CEO of Atlanta-based Halcyon Organics, which develops and manufactures lab-tested medical cannabis nutraceuticals, said the biggest problem facing medical cannabis in Georgia is that in-state cultivation is yet to be legalized.
"In November, Florida licensed five vertically integrated Dispensing Organizations that will cultivate, extract and distribute low-THC cannabis," said Jake Bergmann, CEO of Atlanta-based Surterra Holdings Inc., which secured a Dispensing Organization License that allows the company to cultivate, extract and dispense cannabis products in Florida. "These companies will compete on product price, quality and availability. Some companies will open retail locations staffed by pharmacists, while others will provide statewide delivery services."
Bergmann noted all activity and transactions are tracked, available to law enforcement and reported to the University of Florida for ongoing research.
"Florida succeeded where many states fail: it created a functioning market where patients have multiple choices and access to the best quality products," he said. "Other states, such as Connecticut and Minnesota, have also successfully implemented such systems."
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Medical Marijuana Could Have Saved Medicare $468 Million
Author: Phil W. Hudson
Contact: Orlando Business Journal
Photo Credit: Brent Lewin
Website: Orlando Business Journal
According to a study by UGA researchers published in the July issue of Health Affairs, medical marijuana has a positive impact on the bottom line of Medicare's prescription drug benefit program in states that have legalized pot for medicinal purposes.
"The savings, due to lower prescription drug use, were estimated to be $165.2 million in 2013, a year when 17 states and the District of Columbia had implemented medical marijuana laws," UGA reported. "The results suggest that if all states had implemented medical marijuana the overall savings to Medicare would have been around $468 million."
The school added compared to Medicare Part D's 2013 budget of $103 billion, those savings would have been 0.5 percent. But it's enough of a difference to show that, in states where it's legal, some people are turning to the drug as an alternative to prescription medications for ailments that range from pain to sleep disorders.
UGA noted the findings can give policymakers and others another tool to evaluate the pros and cons of medical marijuana legalization because medical marijuana is such a hot-button issue.
"The results suggest people are really using marijuana as medicine and not just using it for recreational purposes," said the study's lead author Ashley Bradford.
To obtain the results, the researchers combed through data on all prescriptions filled by Medicare Part D enrollees from 2010 to 2013, a total of over 87 million physician-drug-year observations. Full study and methodology here.
In Florida, the use of marijuana for medical purposes has been a hot topic at the capitol.
Daniel Macris, CEO of Atlanta-based Halcyon Organics, which develops and manufactures lab-tested medical cannabis nutraceuticals, said the biggest problem facing medical cannabis in Georgia is that in-state cultivation is yet to be legalized.
"In November, Florida licensed five vertically integrated Dispensing Organizations that will cultivate, extract and distribute low-THC cannabis," said Jake Bergmann, CEO of Atlanta-based Surterra Holdings Inc., which secured a Dispensing Organization License that allows the company to cultivate, extract and dispense cannabis products in Florida. "These companies will compete on product price, quality and availability. Some companies will open retail locations staffed by pharmacists, while others will provide statewide delivery services."
Bergmann noted all activity and transactions are tracked, available to law enforcement and reported to the University of Florida for ongoing research.
"Florida succeeded where many states fail: it created a functioning market where patients have multiple choices and access to the best quality products," he said. "Other states, such as Connecticut and Minnesota, have also successfully implemented such systems."
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Medical Marijuana Could Have Saved Medicare $468 Million
Author: Phil W. Hudson
Contact: Orlando Business Journal
Photo Credit: Brent Lewin
Website: Orlando Business Journal
