Cigna (CI) is launching a new brand designed to create a more efficient health care system, the company announced on Wednesday.
Called Evernorth, the new organization’s ambition will involve unifying “health services capabilities, as well as those of partners from across the health care system, in pharmacy solutions, benefits management, care solutions, and data and analytics,” Cigna said. The brand will remain tied to Cigna and will be led by former ExpressScripts CEO Tim Wentworth.
"Evernorth's commitment to meeting the needs of those it serves, a relentless focus on data-driven innovation, and proven approach to partnering will further accelerate our growth and our ability to solve complex issues in health care for the benefit of those we serve,” said David Cordani, President and CEO of Cigna, in a statement.
In an interview with Yahoo Finance, Wentworth said the strategy will include both a consumer-focused and payor-focused approach that aims to reduce fragmentation in the existing health care system.
“The market has responded really well already,” he said, adding that $90 billion in revenue on day one comes from outside the company — including large health plans, large employers and government.
Cigna is able to bring its expertise as a health insurer for large employers, as well as data from the past few years after its combination with Express Scripts, to create a brand that will focus on improving relationships with external entities.
As an example, the company worked with Livongo — recently acquired by Teladoc— to provide better data to pharmacists to help treat patients better, Wentworth said. He added that the ultimate goal is to create an efficient ecosystem that doesn’t exist currently.
Wentworth noted that the company regularly talks to the country’s largest employers, who all share benefits and policy ideas — but aren’t coordinated well.
“What we see from a patient or payor standpoint is a very fragmented system,” Wentworth said.
Evernorth will produce products that help to ensure smoother health care services and operations, including solutions to help employers with challenges stemming from COVID-19, fertility solutions, affordability of high-cost gene therapies, and a focus on mental health services and greater coordination.
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