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Cigna (CI) Unit Ties Up to Offer Digital Health Tool to Clients
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The Cigna Group’s (CI - Free Report) health benefits business, Cigna Healthcare, collaborated with the global digital-first health and well-being engagement company, Virgin Pulse. The tie-up aims to provide an advanced digital platform, which can be accessed at myCigna by specific employer-sponsored plan clients of Cigna Healthcare from the very beginning of 2024.
The new platform is an initiative to extend a connected and more customized experience to bring enhanced whole-person well-being for around 11 million customers of Cigna. And taking the help of Virgin Pulse seems to be an apt move on the part of CI since the former leverages AI-powered technology and behavior change science, which imparts clients the ability to manage their mental, physical and social health. Subsequently, an individual can make better health choices, set attainable targets and earn financial rewards.
The platform empowers users with the flexibility to connect a compatible fitness device or input some basic daily metrics, like weight or number of hours slept, and consequently, keep a check on their progress. On the basis of the customers’ information, preferences and claims experience, myCigna will direct them to other suitable programs of Cigna Healthcare linked with pre-diabetes management or behavioral health services.
The latest initiative reflects Cigna’s ardent endeavor to extend advanced digital solutions to its health plan clients. This, in turn, might lure more plan sponsors and clients to opt for Cigna Healthcare’s plans and thereby, provide an impetus to the segment in the days ahead. Through this unit, Cigna serves customers of U.S. Commercial, U.S. Government and International Health businesses.
An increase in the customer base is expected to fetch higher premiums for Cigna, which remain the most significant contributor to any health insurer’s top line. Total medical customers of CI increased 9.5% year over year as of Jun 30, 2023.
The health insurance marketplace frequently witnesses launches of advanced digital health solutions by multiple healthcare providers to meet the surge in demand for virtual care since the advent of the COVID pandemic. Therefore, the move to bring an enhanced digital platform seems aptly timed by Cigna.
Apart from the Cigna Healthcare unit, the Evernorth business of Cigna has also put its foot forward to capitalize on the trend to go digital and boost customer base. Last year, the unit added five app- based programs to its clinical platform, Digital Health Formulary. The offerings comprised authenticated and trustworthy health apps devised to achieve better health outcomes.
Shares of Cigna have gained 12.6% in the past three months compared with the industry’s 1.6% growth. CI currently carries a Zacks Rank #3 (Hold).
Amphastar Pharmaceuticals’ earnings surpassed estimates in three of the last four quarters and matched the mark once, the average surprise being 35.98%. The Zacks Consensus Estimate for AMPH’s 2023 earnings indicates a rise of 36.6%, while the same for revenues suggests an improvement of 28.5% from the respective year-ago actuals The consensus mark for AMPH’ 2023 earnings has moved 5.1% north in the past 30 days.
DexCom’s earnings beat estimates in each of the trailing four quarters, the average surprise being 28.83%. The Zacks Consensus Estimate for DXCM’s 2023 earnings indicates a rise of 36.8%, while the same for revenues suggests an improvement of 21.3% from the respective year-ago actuals. The consensus mark for DXCM’s 2023 earnings has moved 11.2% north in the past 30 days.
The bottom line of HCA Healthcare outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 5.42%. The Zacks Consensus Estimate for HCA’s 2023 earnings indicates a rise of 8.6%, while the same for revenues suggests an improvement of 6.1% from the respective year-ago actuals. The consensus mark for HCA’s 2023 earnings has moved 1.3% north in the past 30 days.
The Amphastar Pharmaceuticals stock has gained 28.3% in the past three months. However, shares of DexCom and HCA Healthcare have lost 7% and 2.8%, respectively, in the same time frame.
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Cigna (CI) Unit Ties Up to Offer Digital Health Tool to Clients
The Cigna Group’s (CI - Free Report) health benefits business, Cigna Healthcare, collaborated with the global digital-first health and well-being engagement company, Virgin Pulse. The tie-up aims to provide an advanced digital platform, which can be accessed at myCigna by specific employer-sponsored plan clients of Cigna Healthcare from the very beginning of 2024.
The new platform is an initiative to extend a connected and more customized experience to bring enhanced whole-person well-being for around 11 million customers of Cigna. And taking the help of Virgin Pulse seems to be an apt move on the part of CI since the former leverages AI-powered technology and behavior change science, which imparts clients the ability to manage their mental, physical and social health. Subsequently, an individual can make better health choices, set attainable targets and earn financial rewards.
The platform empowers users with the flexibility to connect a compatible fitness device or input some basic daily metrics, like weight or number of hours slept, and consequently, keep a check on their progress. On the basis of the customers’ information, preferences and claims experience, myCigna will direct them to other suitable programs of Cigna Healthcare linked with pre-diabetes management or behavioral health services.
The latest initiative reflects Cigna’s ardent endeavor to extend advanced digital solutions to its health plan clients. This, in turn, might lure more plan sponsors and clients to opt for Cigna Healthcare’s plans and thereby, provide an impetus to the segment in the days ahead. Through this unit, Cigna serves customers of U.S. Commercial, U.S. Government and International Health businesses.
An increase in the customer base is expected to fetch higher premiums for Cigna, which remain the most significant contributor to any health insurer’s top line. Total medical customers of CI increased 9.5% year over year as of Jun 30, 2023.
The health insurance marketplace frequently witnesses launches of advanced digital health solutions by multiple healthcare providers to meet the surge in demand for virtual care since the advent of the COVID pandemic. Therefore, the move to bring an enhanced digital platform seems aptly timed by Cigna.
Apart from the Cigna Healthcare unit, the Evernorth business of Cigna has also put its foot forward to capitalize on the trend to go digital and boost customer base. Last year, the unit added five app- based programs to its clinical platform, Digital Health Formulary. The offerings comprised authenticated and trustworthy health apps devised to achieve better health outcomes.
Shares of Cigna have gained 12.6% in the past three months compared with the industry’s 1.6% growth. CI currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Amphastar Pharmaceuticals, Inc. (AMPH - Free Report) , DexCom, Inc. (DXCM - Free Report) and HCA Healthcare, Inc. (HCA - Free Report) . Amphastar Pharmaceuticals currently sports a Zacks Rank #1 (Strong Buy), and DexCom and HCA Healthcare carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Amphastar Pharmaceuticals’ earnings surpassed estimates in three of the last four quarters and matched the mark once, the average surprise being 35.98%. The Zacks Consensus Estimate for AMPH’s 2023 earnings indicates a rise of 36.6%, while the same for revenues suggests an improvement of 28.5% from the respective year-ago actuals The consensus mark for AMPH’ 2023 earnings has moved 5.1% north in the past 30 days.
DexCom’s earnings beat estimates in each of the trailing four quarters, the average surprise being 28.83%. The Zacks Consensus Estimate for DXCM’s 2023 earnings indicates a rise of 36.8%, while the same for revenues suggests an improvement of 21.3% from the respective year-ago actuals. The consensus mark for DXCM’s 2023 earnings has moved 11.2% north in the past 30 days.
The bottom line of HCA Healthcare outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 5.42%. The Zacks Consensus Estimate for HCA’s 2023 earnings indicates a rise of 8.6%, while the same for revenues suggests an improvement of 6.1% from the respective year-ago actuals. The consensus mark for HCA’s 2023 earnings has moved 1.3% north in the past 30 days.
The Amphastar Pharmaceuticals stock has gained 28.3% in the past three months. However, shares of DexCom and HCA Healthcare have lost 7% and 2.8%, respectively, in the same time frame.