An early economic analysis published in the journal Expert Review of Pharmacoeconomics & Outcomes Research suggests that medical marijuana could provide notable cost savings when treating chronic pain.
The study assessed the cost-effectiveness of cannabis-based medicinal products (CBMPs) compared to other treatment options, such as analgesics, physiotherapy, and cognitive behavioral therapy, over a one-year period in the UK.
The research modeled various scenarios and consistently found that when CBMPs were used to reduce pain levels, healthcare resource usage decreased. Even with a conservative estimate of a 5% increase in efficacy, based on Real-World Evidence, CBMPs were shown to be more cost-effective. The study further predicts that as prescription costs for CBMPs decline, the potential savings will grow even larger.
The findings underscore the value that CBMPs could bring to healthcare providers in treating chronic pain, a condition that is often difficult to manage effectively with traditional treatments.
Abstract
Background: Cannabis-based medicinal products (CBMPs) are increasingly demonstrating effectiveness in treating a wide range of conditions, with a relatively high safety profile in clinical usage compared to other prescription pain medications and few contraindications. Consultation and other prescription-related costs are, at present, higher for CBMPs than for some other treatment options, leading to some concern around wider prescribing.
Research design and methods: An early cost-effectiveness model was developed to estimate the impact of prescribing CBMPs alone and/or in addition to analgesics, physiotherapy, and cognitive behavioral therapy for chronic pain in the UK for 1 year.
Results: Due to their comparative effectiveness, CBMPs were found to be cost saving. Various scenarios were model tested; in all scenarios where CBMPs decrease pain-level states, less resource use is required. Increased efficacy of 5% was conservatively assumed based on current Real-World Evidence. In this scenario, CBMPs were significantly more cost-effective, and as costs relating to the prescribing of these continue to fall, relative savings are predicted to increase.
Conclusion: These findings highlight the substantial cost saving that CBMPs may represent for the treatment of chronic pain patients, and the benefits for healthcare providers as a treatment for this often hard-to-treat population.
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