Milliman Concludes Review of EO Care’s Methodology to Estimate Cost Impacts of Its Cannabinoid-based Healthcare Treatment Program
July 11 2024 - 1:25PM
Business Wire
Companies Preparing for Expected Cannabis
Reclassification Can Now Tap EO Care as Information Resource
EO Care, a leader in clinically guided cannabinoid-based
healthcare treatment, announced today that Milliman, a premier
global consulting and actuarial firm, completed its methodology
review of EO Care’s proprietary cost impact model designed for
employers and group plan sponsors to estimate the potential
healthcare cost impacts of using evidence-based, clinically guided
cannabinoids to mitigate symptoms of cancer, chronic pain, sleep
disorders/insomnia, and anxiety. (Click here to review report.)
Milliman’s report concluded that the model EO Care uses to
estimate the healthcare cost impact of its clinically-guided
cannabinoid-based care program is a reasonable approach.
“Milliman’s review of our theoretical cost impact model
methodology for cannabinoid-based treatment could not come at a
better time for employers and group plan sponsors,” said Sean
Collins, CEO of EO Care. “As momentum builds for the
reclassification of cannabis to a less dangerous drug category,
companies are looking to get ahead of the curve in responding to
the expected rise in employee demand for reimbursement of their
cannabinoid-based treatment for selected health issues. Research on
cannabis efficacy is limited, but the EO Care cost impact model is
a third-party validated model that can estimate potential
healthcare impacts for employers and group plan sponsors.”
Noting that the highly respected global risk management firm is
known for its careful approach in methodology reviews, Collins
observed that the few limitations identified by Milliman in its
evaluation report of EO Care’s model to estimate the cost impact of
cannabinoid-based treatment stem from the limited availability of
actual healthcare claims-based research on cannabis use.
EO Care is on the path to expand its clinically guided
cannabinoid-based healthcare treatment services, which includes
education, 24/7 evidence-based healthcare guidance, a digital
platform of medical cannabinoid products and solutions designed to
meet each customer’s needs, and direct delivery to clients.
EO Care’s ground-breaking cost impact model to quantify
potential healthcare cost savings from cannabinoids presents a new
path forward for employers and payers who are seeking solutions
that improve patient outcomes but help manage the costs of
healthcare.
“The estimated healthcare cost savings of cannabinoid-based
treatment identified by EO Care’s cost impact model are
significant,” Collins continued. “Based on these estimates, making
cannabinoid-based treatment part of mainstream medicine can deliver
benefits to both members and employers/health plans.”
About EO Care
EO Care offers a digital health platform that provides
affordable, clinician-created guidance for cannabinoid-based
treatments. Its goals are to mainstream and streamline medical
cannabinoid use, ensuring clinical responsibility, affordability,
and ease of use. EO Care’s digital platform includes general
education via a pre-trained Large Language Model (LLM),
evidence-based care and prescription models, 24/7 clinical and
member support teams available for questions or telemedicine
consultations, clinician access platforms and solutions, Visit us
at http://eo.care.
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Rachel Ford Hutman 310-801-5540 rachel@fordhutmanmedia.com