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A recent annual report has shown that the number of persons registered for the medical cannabis program in Florida experienced a gradual increase throughout the fiscal year 2023. However, the pace of growth showed a slight deceleration compared to earlier periods, attributed to the system’s maturation and increased focus on potential recreational cannabis legalization.
According to the report, patient enrollment saw a 15% increase in the fiscal year 2022–2023 compared to 2021–2022. The concluded fiscal year witnessed a decrease in daily doses, primarily influenced by Florida’s emergency rule, which imposed limits on daily dosing. Additionally, the report highlighted a consistent pattern where few certified doctors accounted for a significant portion of medical marijuana certifications.
In FY 2022–2023, 859,026 individual patients were enrolled, an increase from 757,600 in the previous year. In fiscal 2020–2021, the patient count was 607,220, indicating a noticeable upward trend. However, monthly enrollment has gradually declined from year to year.
According to the report, new patient enrollment increased by 27% between January 2020 and January 2021 and then fell by 6% between January 2021 and January 2022. In 2023, month-to-month enrollments fell by 3%, with 20,977 new patients being enrolled in June 2023.
When it came to qualifying conditions, the report highlighted post-traumatic stress disorder (PTSD) as the most prevalent condition, constituting 40.2% of reported cases. Other common conditions included extreme nonmalignant pain at 13.4%, multiple sclerosis at 8.8% and cancer at 3.6%. Moreover, 25% of patients met the eligibility requirements for conditions that were either similar to or of the same kind as those that were listed, with chronic pain, anxiety and various conditions related to the digestive system being prominent.
Physician certifications, crucial for patient participation in the program, exhibited a steady increase. Between the fiscal years 2022 and 2023, the overall yearly number of certifications climbed by 15%, from 1,142,172 to 1,315,123. This growth rate was marginally less than the 24% increase from 2021 to 2022.
Monthly certificates increased by 48% between January 2020 and January 2021 and by 24% between January 2021 and January 2022. In FY 2022–2023, certifications rose by 21%, but at a slower rate from January 2022 to January 2023. June 2023 had 117,313 certificates, a rise from January 2023’s 113,992 total.
The majority of certifications were granted by a small percentage of doctors, which was consistent with previous years’ findings. Only 1% of certificates were issued by the lower 40% of qualified physicians in FY 2022–2023, compared to 84% of certifications issued by 19% of qualified physicians over the same period.
The report delved into detailed lists of the top doctors recommending medical cannabis and low-THC products, revealing that some, who were anonymously identified by a special two-letter code, issued certifications for thousands of patients over the years.
This growing number of patients registering for medical cannabis access suggests that companies such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) have a steady demand for the medical marijuana products that they sell in dispensaries within the state.
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