Yahoo Finance Cigna's (CI) Arm Adds Five Digital Health Apps to Its Platform
Cigna Corporation’s CI health services arm Evernorth recently added five app-based programs to its clinical platform Digital Health Formulary. The platform comprise authenticated and reliable health apps devised to achieve better health outcomes for people.
Among the newly-included digital solutions, Big Health's Sleepio aims to address sleep issues while, its Daylight promises better management of anxiety. Quit Genius will offer relief to people suffering alcohol and opioid use disorders, while HealthBeacon's Injectable Care Management System focuses on resolving inflammatory conditions.
Simultaneously, Evernorth introduced an array of pilot programs via its Digital Health Formulary to analyze the clinical effects and user experience of solutions meant to cater to additional care categories, including those of oncology, psoriasis and eczema, pelvic health of women and medication treatment adherence.
The latest initiative reflects Evernorth’s dual endeavors, the first one being its concerted efforts to extend new and cost-effective solutions, which its clients can easily incorporate into their health plans. In this manner, Cigna’s health services business aims to address the unmet healthcare needs of patients grappling with serious and complex medical issues.
The widespread reach of Evernorth’s Digital Health Formulary solution suite is reflected by its adoption among the 20 million plus U.S. members covered under its clients' benefit plans. The platform also boasts a record of achieving average administrative savings per solution of more than $120,000.
The second endeavor is visible through Evernorth’s attempt to enhance the solutions suite of its Digital Health Formulary. The platform, containing solutions approved by physicians, pharmacists and user experience specialists, stands out in a packed digital health marketplace.
The 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-19 pandemic. Therefore, the move to introduce five digital health solutions seems aptly timed by Evernorth.
Evidently, the expanded digital health platform of Evernorth is expected to lure more plan sponsors to extend either single digital solutions from the platform or resorting to integrating the solutions into any of the connected care programs of Evernorth.
Increased utilization of Evernorth’s solutions bodes well for its parent company Cigna since the segment accounts for a significant portion of CI’s revenues. For 2022, management projects adjusted revenues to be at a minimum of $178 billion, implying minimum growth of 2.2% from the 2021 figure.
Shares of Cigna have gained 41.1% in a year compared with the industry’s rally of 21.8%.
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Zacks Rank & Key Picks
Cigna currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Medical space are Senseonics Holdings, Inc. SENS, Humana Inc. HUM and AMN Healthcare Services, Inc. AMN. While AMN Healthcare currently sports a Zacks Rank #1 (Strong Buy), Senseonics and Humana carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Senseonics’ earnings surpassed estimates in three of the last four quarters and matched the mark once, the average being 53.87%. The Zacks Consensus Estimate for SENS’ 2022 earnings is pegged at 31 cents per share. A loss of 72 cents was reported in the prior year. The consensus mark for SENS’ 2022 earnings has moved 416.7% north in the past 60 days.
Humana’s earnings beat estimates in each of the trailing four quarters, the average being 9.09%. The Zacks Consensus Estimate for HUM’s 2022 earnings indicates a rise of 20.4%, while the same for revenues suggests an improvement of 11.9% from the respective year-ago actuals. The consensus mark for HUM’s 2022 earnings has moved 0.8% north in the past 60 days.
The bottom line of AMN Healthcare outpaced estimates in each of the trailing four quarters, the average being 15.66%. The Zacks Consensus Estimate for AMN’s 2022 earnings indicates a rise of 40.2%, while the same for revenues suggests an improvement of 28.5% from the respective year-ago actuals. The consensus mark for AMN’s 2022 earnings has moved 0.9% north in the past 30 days.
The Humana stock has gained 20.6% in a year. However, shares of Senseonics and AMN Healthcare have lost 29% and 6.8%, respectively, in the same time frame.
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