Cigna is continuing its strong push in 2020. With recent partnerships such as selling new health plans with Oscar Health and its collaboration with Health connect 360, Cigna is going above and beyond to provide its consumers with value. These partnerships only add on to its alliance with PBM Prime Therapeutics as well as its purchase of PBM Express Scripts. Cigna chief executive David Cordani said partnerships like these will continue to grow in 2020. These collaborations have been, “A key point of differentiation and a growth driver for Cigna in 2020 and beyond is our orientation toward partnering”, Cordani stated on a call discussing their fourth-quarter earnings from last year.
Collaboration Between Prime Therapeutics & Express Scripts
Analysts were told by Cordani that starting in April of 2020, Cigna would make pharmacy care more affordable by enhancing pharmacy networks and pharmaceutical manufacturer value. Together with Prime and Express Scripts Cigna will be able to continue to grow in markets countrywide. The collaboration of the PBM’s will allow more affordable care for clients and their members. It will allow Prime’s Blue Cross health plans leverage through Express Scripts’ clout and pharmacy network.
Cigna Growth in 2019
Cigna’s growth is sure to turn heads as they continue to focus on their focus business model. This statement comes after the company recently sold its nonmedical shares to New York Life for $6.3 billion. Express Scripts is being projected to continue growth in 2020 including a retention rate of 97% in 2019 according to Cordani. The total revenue surpassed $153 billion in 2019 and with more pushes into 2020 they can expect to surpass that.
Cigna wants to be your client’s partner in total health and wellness. Their values are the core of their culture. Their Health Accelerated: Life ConnectedSM approach integrates the physical, emotional, financial, social, and environmental aspects of health and well-being. In hopes to lead the way in transforming healthcare, Cigna is taking steps to innovate across all delivery systems to expand choice and improve quality, affordability, and experience.
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