VENTURE 17             - Private Education for the Medical Arts and Sciences
RSS Follow Become a Fan

Delivered by FeedBurner

Recent Posts

Migraine Therapy Update
Doc's Apple Pie

Most Popular Posts

Stem Cell Research Stopped?
New Advancements in the Understanding and Treatment of Parkinson’s Disease
Is My Headache a Migraine?
Crohns Disease and Today's Athlete
Neurology Update: Normal Pressure Hydrocephalis


Arts and Photography
Clinical Update
Education and Political Action
Medical Advise
Medical History
Medical Law
Medical Opinion
Personal Fitness
Political Comment
Science Update
Social Comment
Special Post
Student Post
powered by


Health Insurance and Medical Marijuana

This is a follow up to my article, "Marijuana and Colorado, a Doctor's Perspective". The venture capitalists are moving in. This was inevitable, as I talked about it in my article. It has become difficult for any investor to ignore the glaring reality of an American "Medical Cannabis economic boom" coming sooner than most are ready for. Start paying attention.

The latest on Novus from Venture 17 and The Trinity Venture Capital Group. Read on.

Novus (NDEV) Aims to Fill Key Void in Cannabis Industry

The U.S. legal cannabis industry is expected to reach $2.34 billion in size by the end of the year, according to ArcView Market Research. With additional states expected to legalize the drug over the next five years, the same group believes that the U.S. industry could reach $10.2 billion in size by 2018. These growth rates have attracted both investors and lawmakers interested in shoring up tax revenue.

Despite these gains, cannabis continues to be classified by the federal government as a Schedule I Controlled Substance alongside drugs like heroin and cocaine. Conflicting federal and state laws surrounding the burgeoning industry have been a source of widespread confusion, which has led many insurance companies to refuse coverage for medical marijuana treatments for patients in need.

In this article, we'll take a look at a company that aims to change those dynamics by introducing a health insurance program geared towards medical marijuana patients.

Lack of Insurance

Medical marijuana has been shown to be effective in treating a wide variety of different medical conditions, including pain, nausea, and appetite. In addition to these conditions, companies like GW Pharmaceuticals plc (GWPH) are extensively studying the drug for its potential use in treating major conditions like childhood epilepsy, Crohn's disease, and certain types of cancer.

Since many health insurance companies work with federal programs like Medicare and Medicaid, they must adhere to all federal laws including those that classify medical marijuana as a Schedule I Controlled Substance. The result is a significant lack of insurance coverage for patients that require medical marijuana, legal on a state level, to treat serious medical conditions like childhood epilepsy.

Novus Acquisition & Development Corp. (NDEV) aims to capitalize on the void in the marketplace by establishing a health insurance program for medical marijuana patients. These efforts are being led by Ms. Andrea Lopez, MSM, AHFI, who has more than 15 years of experience in healthcare compliance, delivery, and development of insurance policies for large companies.

Diversified Exposure

Novus Acquisition & Development Corp. also aims to provide structured protocols for physicians that are compliant with each state's regulation and federal recommendations in order to ensure they are on the level. The team conducts full-scale risk management analyses in order to mitigate business liability and promote workplace safety for employers, municipalities, and businesses.

With its focus on the healthcare side of the business, the company's solutions differ from compliance related solutions provided by other publicly traded companies like Integrated Cannabis Solutions Inc. (IGPK). ICS provides regulatory assistance to new and existing legal cannabis businesses, including dispensaries, that are trying to navigate their way through the heavily regulated industry.

The healthcare compliance side of the business also represents significantly less risk for investors than the growing side of the business. While growing operations under Canada's new MMPR are relatively safe, including companies like Abattis Bioceuticals Inc. (OTC:ATTBF) or Creative Edge Nutrition Inc. (FITX), there may be risks associated with companies operating dispensaries in the U.S.

Growing Need for Compliance

The need for effective healthcare insurance and compliance solutions are only likely to increase as the medical benefits of cannabis become more apparent. GW Pharmaceuticals' cannabinoid based Sativex® has already been approved in 25 countries and received Fast Track status from the FDA and plans to release top-line Phase III cancer pain data toward years end.

With medical cannabis use being increasingly justified, there's also growing concern among the public about the risks involved. Two high-profile Colorado deaths were recently tied to the over-consumption of cannabis "edibles" containing high levels of THC. These developments underscore the importance of additional risk management practices, especially in a new industry with few existing rules.

Businesses are also increasingly in need of compliance solutions. Employers cannot discriminate against employees simply because they possess medical marijuana cards, and no employer wants to face the prospect of a lawsuit for unlawful termination of an employee. Compliance solutions from companies like Novus can help businesses avoid these types of situations.

And finally, medical marijuana patients are in great need of insurance programs to help lower their costs and provide affordable coverage. The proven use of medical marijuana to treat conditions like childhood epilepsy has left many parents without a lot of options financially, which has created strong demand for insurance programs like the ones being developed by Novus.

Stay tuned for continued posts on this important issue.

24 Comments to Health Insurance and Medical Marijuana:

Comments RSS
how to claim after a car accident on Tuesday, August 12, 2014 1:54 AM
Your article is very nice.
Reply to comment
Intraday Tips Provider on Saturday, July 04, 2015 2:20 AM
Businesses are also increasingly in need of compliance solutions. Employers cannot discriminate against employees simply because they possess medical marijuana cards, and no employer wants to face the prospect of a lawsuit for unlawful termination of an employee.

Best Wedding Photographer in Jaipur, on Saturday, August 23, 2014 3:28 AM
I hope you write again very soon!
Reply to comment

Event Organizer In Jaipur on Saturday, August 23, 2014 3:29 AM
Greetings! Very helpful advice on this article!
Reply to comment

medical negligence claim on Wednesday, August 27, 2014 1:55 AM
Thanks for sharing this article . Your article is good.
Reply to comment
Dr. Counce on Monday, September 08, 2014 8:20 PM
Thank you

Physical Therapy Edmonton on Thursday, September 25, 2014 12:33 AM
For the health awareness this post is too good.though this post you giving a nice massage about health really interesting and informative post.keep sharing.

Sell my freestanding emergency on Thursday, September 04, 2014 12:28 AM
Great post!! I must say that overall I am very taken with this site. It is apparent that you know you subject matter and you are passionate about it. I wish I had got your ability to write. I have bookmarked your site and look forward to more updates.
Reply to comment

Affordable ct scan on Monday, September 08, 2014 4:03 PM
Health Insurance and Medical Marijuana is an enormously inspiring post .I am totally pleased with your excellent work. It contains really very useful information. Looking forward for your next post.
Reply to comment
Dr. Counce on Monday, September 08, 2014 8:21 PM
Thank you very much. More coming.

bulk sms india on Saturday, September 13, 2014 2:21 AM
Hello We loves your beautiful site and pls do not stop !
Reply to comment

Magentocommerce - Magento Design on Monday, September 15, 2014 9:08 AM
I believe this is a great site, you are working great on the content and quality of this site at the same time...
Reply to comment

reflexology courses on Tuesday, September 16, 2014 3:21 AM
You have discussed very well about Holistic Health.. I am impressed to see your writing. Very well written ....
Reply to comment

black magic in india on Thursday, September 18, 2014 12:07 AM
This article is elegantly composed and exceptionally instructive. I truly like this site in light of the fact that it offers heaps of data.
Reply to comment

Astrologer in India on Thursday, September 18, 2014 5:33 AM
A very informative site. The way you have share this information is really very appreciative. Hope to see more on this topic here. Thanks for posting this information here.
Reply to comment

first aid courses london on Wednesday, September 24, 2014 7:40 AM
Now a days Very popular topic is Marijuana... And you have discussed about its Health Insurance and Medical Marijuana....///
Reply to comment

Basic Scaffold Training on Wednesday, September 24, 2014 10:21 AM
I really like your post. Thanks and please keep it up..
Reply to comment

Supplemental benefits on Friday, September 26, 2014 1:27 AM
An amazing article about "Health Insurance and Medical Marijuana". I think you have a great knowledge especially while deal with such subjects. I am looking forward to reading your other posts soon! Thanks for sharing!!
Reply to comment

CBD Oil on Saturday, June 18, 2016 3:15 AM
Many people getting the health benefits of marijuana. It is sometimes referred as super food. It helps to reduce pain and anxiety. It is even used as a medicine for cancer treatment.
Reply to comment on Wednesday, February 15, 2017 12:56 AM
The group leads full-scale chance administration investigations keeping in mind the end goal to moderate business obligation and advance working environment security for bosses, districts, and organizations.
Reply to comment

medical marijuana arizona on Sunday, March 19, 2017 7:41 AM
Pretty good Article. Thank you.
Reply to comment

click here on Friday, June 01, 2018 10:47 AM
You're doing your work in very good ways and I hope you can achieve anything that ever you want. Your post is most relevant to my site and I hope we both can customize it.
Reply to comment

Brass Knuckles Vape on Wednesday, September 12, 2018 4:52 AM
I really like your post. Thank you so much this article. The way you explained this article is really very much appreciative.
Reply to comment

Hope Jacoby on Wednesday, October 17, 2018 11:00 PM
I read you post. You have share such an excellent stuff. It's really amazing. For more information visit:
Reply to comment

Add a Comment

Your Name:
Email Address: (Required)
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment