- The majority of CBD studies focus on the potential for economic growth.
- This study will use a SF-36 Health Survey, which the CEO has used in conjunction with national health insurance companies.
CBDCapitalGroup recently announced a new program that they are launching through portfolio company Medix CBD, examining the effectiveness of CBD with the qualitative Short Form (SF)-36 Health Survey. The purpose of the study is to study medical outcomes, according to reports from GlobeNewswire. CBDCapitalGroup is an investment and scaling company in the CBD industry.
David Metzler, the CEO of CBDCapitalGroup, commented that the CBD industry has “so much potential,” but there is a significant absence of information about the way that consumers actually use the substance in their everyday lives. He explained that the use of the SF-36 Health Survey is a process that he’s familiar with, due to his history of working with national insurance companies. He explained that the use of the survey allows them “to establish industry standards and help companies prove the efficacy of their products.”
The SF Medical Outcome Study (MOS) was collaboratively created by the Rand Research Corporation and the U.S. Government in an effort to see how cost-effective various health treatments are. Since the survey was originally developed, it has been helpful in seeing the statistical-actuarially validated outcomes in millions of consumers. Now, CCG and the portfolio companies linked with it are working to use the survey to generate the information that is needed for the cannabis industry to growth and thrive.
Medix and CGG aim to research some of the most successful methodologies to launch the study, allowing for greater participation and a huge sampling pool. After these markers have been established, more detailed results may be pursued as the company aims to study the rest of the industry as well, hopefully creating a new industry standard. Steve Myers, the former CTO of Optum Specialty Networks, has been recruited by CCG to help administer the first control group for the best practices of delivering the SF-36 Health Survey.
Miguel Lozano, the CEO of Medix, brought up that their company was one of the first to add QR codes to their products’ packaging, which lets consumers trace back the CBD in their remedies to its source. He added:
“To continue our precedent of setting industry standards, we are proud to e the first to participate in this study to prove the efficacy of our products because this can become the new industry gold standard measuring Quality of Life improvements.”
Brightfield Group recently performed a study that estimated 700% growth of the CBD industry by the end of this year, adding a prediction that this industry will reach $24 billion in the next five years. There are already a substantial number of studies on how the CBD consumer market could thrive in and benefit the economy, but this task of reviewing the impact that CBD has on quality of life is an entirely new perspective.
Consumers can learn more about CBDCapitalGroup by visiting www.cmwmedia.com.