It's great for what it will do short term. Long term usage will harm your joints, I have been told by doctors.
The doctor has to weigh the potential benefits to you verses the potential harm. This is based on his detailed knowledge of your exact condition. No one without that information and his knowledge can guess what is right for you. A good doctor would never try to figure this out over the internet. He is the only one who can make recommendations about bicycling too. It depends on the exact condition of your joints.

Good luck, I know how bad it can be. It can potentially be a great help.