Seattle, WA, Feb. 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Helix TCS Inc. (OTCQB: HLIX), and its recent partnership with the State of Illinois.
Helix TCS Inc. (OTCQB: HLIX), through its subsidiary BioTrackTHC, recently teamed up with the State of Illinois to measure the impact of medical cannabis on opioid use in its Opioid Alternative Pilot Program. The program could become a model for other states facing the same problems, while opening the door for more revenue opportunities for Helix TCS’ unique software solutions.
The opioid epidemic has become a major health risk for the United States and Canada. After years of overprescribing, opioid addiction affects a record number of individuals that are increasingly turning to dangerous synthetic opioids. These trends have led to a growing number of overdose deaths across North America. The good news is that medical cannabis has helped turn the tide in a growing number of states.
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Growing Opioid Epidemic
Drug overdoses have become the leading cause of death of Americans under 50—and two-thirds of those deaths come from opioids. As the most prescribed class of drugs in the U.S., long-term opioid use has skyrocketed over the past several years. Painkiller prescriptions tripled from 76 million to 219 million per year between 1991 and 2011, and nowadays, nearly 300 million prescriptions are issued each year.
There are many ways that regulators aim to fight the opioid epidemic. For example, methadone clinics offer long-term treatment options for addicts while behavioral treatments are designed to help people kick their addiction. The problem is that these solutions don’t address the underlying problem of nearly one-third of Americans living with chronic pain—chronic pain that needs some form of treatment.
The legalization of medical cannabis across a growing number of states could offer a solution. According to the American Medical Association, states with modernized cannabis laws see a significant reduction in opioid dependence and opioid-related deaths. The assumption is that many chronic pain sufferers are amenable to using cannabinoids as an alternative treatment, and cannabinoids don’t have the same adverse side-effects.
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BioTrackTHC Powers Research
The State of Illinois has become a pioneer in measuring these trends with its Opioid Alternative Pilot Program. By tracking patients taking alternative medications, such as medical cannabis, the state hopes to find clear pathways to fight the nationwide epidemic. The challenge is tracking the use of medical cannabis since it occurs outside of the traditional medical system where doctors issue prescriptions purchased at pharmacies.
Helix TCS Inc.’s (OTCQB: HLIX) BioTrackTHC subsidiary provides the key missing ingredient—a software application that tracks medical cannabis across the supply chain. Earlier this month, the company announced that the State of Illinois selected its software to track medical cannabis sales for patients participating in the Opioid Alternative Pilot Program, in addition to its existing tracking and tracing of the state’s medical cannabis supply chain.
“Helix TCS is uniquely positioned to deliver the critical tracking and compliance technology infrastructure surrounding both forms of medicine in existing and emerging medical and recreational cannabis markets through our subsidiary, BioTrackTHC, and will be able to leverage tracking data to directly correlate changes in opioid use to medical cannabis expansion,” says Helix TCS Executive Chairman and CEO, Zachary L. Venegas.
The agreement in Illinois could become a template for other states looking to implement similar programs, with key states, including New York, considering this path and also utilizing the BioTrackTHC solution for government oversight of the state’s medical cannabis program. With its significant footprint in the supply chain portion of the market, the technology is a natural solution for expansion into the research space. In fact, the company was originally formed to track the dispensing of prescription painkillers in South Florida before pivoting to the licensed cannabis industry in 2010.
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Looking Ahead
Helix TCS Inc.(OTCQB: HLIX) is a leading provider of ancillary services to the legal cannabis industry, helping owners and operators of licensed businesses remain competitive, compliant, and secure. The company’s products already reach over 2,000 customers across 33 states in five countries, and its software has processed over $18 billion in cannabis sales since 2010. Investors may want to take a closer look at the company given these dynamics.
For more information, visit the company’s website at www.helixtcs.com.
Click here to read the full article: https://www.cannabisfn.com/the-state-of-ill…-opioid-epidemic/
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