Cigna's (CI) New Pathwell Suite to Boost Efficiency, Lower Cost
Cigna Corporation’s CI new Cigna Pathwell suite of products is expected to connect customers with care providers in an efficient manner. The new suite is expected to combine Cigna’s health services business, Evernorth’s prowess including personalized digital solutions and analytics with its medical benefits management and provider networks.
The resultant product from the combination is likely to develop a comprehensive and personalized care experience for the patients. The Cigna Pathwell is expected to improve health outcomes. The new suite of products is also likely to reduce costs for clients and their employers.
The new suite will offer products, which will likely address two health care spending drivers, musculoskeletal pain and injectable biologic medicines. Cigna Pathwell is expected to expand its addressable range to include emerging health trends. This will likely enable patients to better navigate through the fragmented health care system and get a personalized experience.
Cigna expects to bump up its Pathwell suite’s availability throughout the next year. This will help the company to continue growing its membership. The move is expected to increase demand for its Evernorth business services, boosting its profitability. Adjusted pretax income from operations in Evernorth is expected to be $6.1 billion this year.
The company keeps equipping the health services arm with different capabilities for further growth. In September, it added five app-based programs to its clinical platform, Digital Health Formulary. Moves like these will boost profits backed by steady affordability improvements coupled with solid specialty pharmacy and specialty distribution businesses.
Other companies like UnitedHealth Group Incorporated UNH, Centene Corporation CNC and Humana Inc. HUM in the Medical - HMOs space are also boosting their product suites to capture a better share of the market.
UnitedHealth’s health service business, branded Optum, is becoming increasingly valuable. It is also crucial to the company’s diversification strategy. UNH makes prudent acquisitions to boost Optum’s capabilities and increase memberships.
Saint Louis, MO-based Centene keeps growing its membership thanks to product enhancements, network expansions and contract wins. In August 2022, CNC won Medi-Cal contracts from California's health services department and a Medicaid contract to serve Mississippi.
Humana's medical and specialty insurance products allow its members to access healthcare services, primarily through its network of healthcare providers. Its strategic initiatives have carved a growth path for the company through expanding product solutions. Some of the acquisitions made by Humana are helping it to achieve membership growth. These include the purchase of Family Physicians Group, Your Home Advantage, Curo and others.
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