The University of York, Drug Science, and the Cannabis Industry Council seek to develop a a full health economic analysis of cannabis and chronic pain.
An early economic modelling tool will be used to consider the costs, resource use and utility associated with prescribing medical cannabis to treat chronic pain.
The study, which will be led by the University of York, will include a comparison of the costs of medical cannabis with standard chronic pain treatments, and a consideration of cost and outcomes over a one-year time period.
It is hoped that the tool will be able to demonstrate the viability of prescribing cannabis on the NHS under different scientific assumptions.
CIC Chair, Professor Mike Barnes, says: "We need to show that cannabis can be introduced to the NHS at net-zero cost, which I think will be the case, however, we still need to prove it."
The project requires funding of £18,000 - £20,000, of which £12,000 has already been secured.