In an effort to provide better health care services, U.S. health insurer Cigna Corp. (CI) announced its plans to form a new range of valued-based initiatives called Cigna Collaborative Care. This arrangement will replicate the model of Collaborative Accountable Care program that Cigna already has with large physician groups. However, Cigna Collaborative Care will expand its existing initiative to include smaller physician groups, specialist groups, and hospitals, in addition to the large physician groups.
Cigna is focused on collaborating with physicians and other health care professionals and facilities in a bid to improve the quality of care and patient satisfaction while also lowering medical costs, resulting in improved overall value.
Cigna has discovered that its Accountable Care program was able to provide care to only one-fifth of potential customers with high-cost conditions or complex needs. In order to affect a deeper reach among the population, Cigna Collaborative Care initiative is being developed which will attend to the needs of individuals at all points where care is needed.
The company is foreseeing positive cost and quality outcomes from its collaborative accountable care program.
In 2013, Cigna successfully increased the number of customers benefiting from its accountable collaborative relationships with physicians by 50%. By the end of the year, the company had 86 collaborative accountable care initiatives, up from 52 at the end of 2012. The company plans to reach a goal of 100 accountable care initiatives by the end of 2014.
Other health insurers like UnitedHealth Group Inc. (UNH), Aetna Inc. (AET) and Humana Inc. (HUM) are also aggressively taking up the collaborative care initiative to deliver improved health care outcomes.
Cigna presently carries a Zacks Rank #3 (Hold).