At the recent Benzinga Cannabis Capital Conference, industry leaders explored the intersection of medical cannabis access, patient loyalty and market challenges.
Addressing key issues such as regulatory hurdles, changes in the medical marijuana market and the importance of patient education, the panel provided insights into maintaining patient care and access in a competitive market.
Navigating Accessibility And Risks To Medical Marijuana
Dr. Christina Betancourt Johnson, CEO of The Forest by Standard Wellness Maryland, highlighted the challenges in preserving patient access amid the rise of adult-use cannabis. Her company, which also operates in states like Utah, Missouri and Ohio, emphasizes the need for active engagement with elected officials and regulators to advocate for patients, especially when transitions between medical and adult use take place.
“We build those relationships long before coming into the market,” she said. To her, lawmakers aren’t normally familiar with cannabis, so education is of the essence. In those conversations, Johnson advocates for tax breaks for medical users, mandatory shelf space dedicated to patients and enhanced budtender education to prioritize quality care as states transition to adult-use markets.
The ‘Friction’ Between Medical And Adult-Use Markets
Founder of Leafwell, Emily Fisher, noted that the adult-use market introduces a type of “friction” that complicates access for patients. Leafwell aims to educate potential patients and partners, ensuring that therapeutic users are continually informed and supported, but Fisher recognized there’s much to be done still in that matter.
As regulations shift and new consumers enter the market, she said, “a lot of them are looking for therapeutic uses but don’t get a medical card.” Fisher attributes this to barriers that make navigating medical and adult-use markets challenging. To address those barriers, her company provides the largest integrated treatment clinic in the field, working across multiple markets where both programs coexist.
Read Also: Legal Medical Cannabis Could Save US Healthcare $29B Annually, New Study Finds
The Importance Of Medical Integrity
Tim Pickett, CEO of Kindly MD KDLY, a company based in Utah that offers plant-based treatments, echoed concerns about the potential risks to the medical cannabis sector. He explained that while retailers push for higher volumes, focusing on adult-use sales may come at a cost. “The fear is delegitimizing cannabis as a medicine.”
This shift risks overlooking a larger base of therapeutic cannabis users who might benefit from cannabis for health reasons but perceive it as purely recreational. Pickett advised that investors consider the long-term implications of focusing on adult-use marijuana, underscoring the substantial consumer base for medical cannabis.
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Exploring Identity And Wellness
Ricky Williams, former NFL player and founder of Highsman, addressed the broader, often philosophical aspects of cannabis in health. Reflecting on his experience as a professional athlete, Williams highlighted how perspectives on health vary, especially in fields like sports. “My interaction with physicians is very different than for most people,” making the point that every person has a particular relation to both health and physicians. Thus, he advocated for broader conversations on cannabis’s therapeutic uses, as many consumers are likely unaware of the plant’s benefits beyond recreational purposes.
Building on that conversation Javier Hasse, managing director at Benzinga Cannabis, brought up a conceptual distinction that resonated with the panel: the difference between “medical cannabis” and “therapeutic cannabis,” which encompasses a wider range of health benefits.
“Why would people choose to go through the adult-use market route when medical cannabis might be more affordable and accessible?” Hasse asked.
This question underscores a common barrier in the U.S. where concerns about medical marijuana registration impacting government benefits, like housing or employment rights, prevent many from fully engaging in the medical market.
Confusion might be to blame, the panelists agreed noting that ambiguity and disorientation around cannabis legalization across states only exacerbate access challenges.
“The fact that we are not scheduled properly, and all 50 states are doing their own things, makes it difficult for consumers to understand what registering for a card looks like for their jobs, housing, and community,” said Betancourt Johnson.
The panel concluded that unified clarity from cannabis advocates and regulators would enhance patient rights, reduce confusion and ultimately bolster the wellness cannabis market, which still has much room to grow.
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