Cigna Corporation (CI - Free Report) has introduced a virtual care solution — Dental Virtual Care — for mainly catering to dental issues amid the COVID-19 pandemic. More than 16 million enrollees of the company’s employer-sponsored insurance plans are likely to gain from the launch. The new service can be availed free of cost until May 31 of this year. Subject to customary approval, the solution is likely to continue even after the pandemic ends.
In a situation where most of the U.S. healthcare establishments are laden with persons infected with the virus, it is necessary to solve oral health issues virtually, while staying back at home for containing the virus spread. For minimizing the spread of infection, the American Dental Association (ADA) has increasingly urged dental personnel to solve urgent dental issues of customers through teledentistry or some other remote facilities.
Hence, Cigna’s new solution allows members to virtually connect with its vast network of dental providers for seeking emergency dental consultation. The solution, which will form a part of Cigna Dental Health Connect, is likely to enhance the company’s existing suite of dental care services.
Notably, the healthcare provider seems to be in a bid to partner with several healthcare operators across the United States. Concurrent with the latest move of launching Dental Virtual Care, Cigna tied up with The TeleDentists, which offers dental care services virtually. The alliance will enable more than 300 licensed dentists of The TeleDentists to assess emergency oral health issues and recommend medications accordingly for Cigna’s clients.
At the end of March this year, it also partnered with Buoy Health, which has an artificial intelligence (AI) platform. Based on the alliance, Cigna rolled out a digital platform, which guides customers in the early detection of COVID-19 symptoms as well as provides guidelines for subsequent care.
Moreover, the company has undertaken several measures for containing the virus spread since the beginning of March. It has eliminated certain ‘out-of-pocket’ costs required for the treatment of its clients, who are severely hit by the pandemic. For boosting its telehealth services, Cigna even planned to join forces with the healthcare team of its network partner and telehealth provider, MDLIVE.
Further adding to its initiatives, Cigna inked a long-term deal with Houston Methodist Hospital, which allows its customers to get quality medical care at reasonable rates in Methodist hospitals amid the outbreak.
Furthermore, shares of this Zacks Rank #3 (Hold) company has gained 25.5% in a year compared with the industry’s rise of 20.8%. We believe that Cigna’s strong fundamentals are likely to retain its existing momentum in the long run.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other companies in the same space are undertaking several measures to fight the COVID-19 outbreak.
Magellan Health, Inc. (MGLN - Free Report) enhanced telehealth services via video calls.
Humana Inc. (HUM - Free Report) also expanded the availability of telehealth services by providing an array of affordable and feasible services, which include early prescription refills and wider coverage of telehealth visits for urgent healthcare.
CVS Health Corporation’s (CVS - Free Report) health insurance division, Aetna (which was merged in 2018), is also developing and expanding its telehealth offerings.
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