How rescheduling impacts the medical cannabis market

rescheduling medical cannabis

For decades, the DEA’s stance has been that cannabis is a Schedule I substance, meaning it has a high potential for abuse and has no currently accepted medical use in the United States. This has been a controversial position considering the known medical benefits of cannabis and that other substances under a Schedule I classification include much more harmful drugs such as heroin and methamphetamines. 

However, in August of 2023, the U.S. Department of Health and Human Services issued a recommendation that cannabis be rescheduled as a Schedule III drug. The Biden administration approved this recommendation, pointing out that the current Schedule I status has created an epidemic of unnecessary and unwarranted criminal convictions of Americans, specifically in Black and Latino communities, for cannabis-related offenses. 

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Most recently, the Biden administration has made a monumental move by moving forward with rescheduling cannabis as a Schedule III drug. With this decision, cannabis will be redefined as a drug with moderate to low potential for physical and psychological dependence, opening the door for its accepted medical use among patients and physicians. 

What does this mean for the industry?

Under the Schedule I classification, medical practitioners face the risk of violating federal law and potentially losing their DEA licenses if they prescribe medical cannabis to their patients. This impacts physician’s ability to work in other areas of medicine, like hospitals, because they prohibit their employees from practicing cannabis medicine. In states where medical cannabis is legal, like Florida, doctors are permitted to “recommend” its use. 

However, there is a lack of prescribing guidance with no clinical studies or standard of care. Defining cannabis as a Schedule III drug would make FDA approval possible. The FDA can then provide guidelines or subject cannabis to a regulatory authority – while unlikely in the short term, it is possible one day. 

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On the insurance and pharmaceutical front, rescheduling can help influence insurance companies to cover cannabis treatments, as they usually do for other Schedule III drugs. If insurance coverage is available, that would likely attract pharmaceutical companies to enter the cannabis space, leading to greater access for patients and more traditional medical practices to prescribe cannabis. 

Rescheduling could also pave the way for research into the therapeutic potential of cannabis, and scientists may have greater opportunities to explore its medicinal properties to potentially develop new treatment options. Right now, there is a stigma surrounding the cannabis space. However, rescheduling will help dismantle these obstacles that deter doctors and other outside companies from recommending or getting involved. 

Most importantly, rescheduling cannabis to Schedule III brings forth a wide array of opportunities for patients. This decision acknowledges the medical benefits that the cannabis plant provides and may lead to expanded access to cannabis-based treatments. Right now, patients who suffer from chronic pain, epilepsy, and nausea associated with chemotherapy struggle to obtain cannabis products. With the decision to reschedule, these patients will have more access to these products without facing current hurdles. 

Remaining challenges and outlook

While the Biden administration’s rescheduling decision represents a significant milestone for our industry, we still need to address challenges. Regulatory frameworks must be established to ensure medical-use patients have safe and responsible access to the cannabis products they need. Impaired driving and underage use will also need to be addressed with careful consideration. At the state level, there is an opportunity to reassess their current cannabis laws and regulations, as rescheduling may provide momentum for further legalization efforts. 

At DocMJ, our patients are living examples of the power medical cannabis has, and we are excited to continue helping more patients live better lives. We are hopeful for the future and believe it to be an important step in breaking down legal and social barriers for our industry.

*This article was submitted by a guest contributor. The author is solely responsible for its contents.

Aaron Bloom Aaron Bloom, an experienced healthcare attorney, serves as the CEO of DocMJ, overseeing the mission and growth of DocMJ and Medwell Health and Wellness Centers since 2016.