U.S. markets closed
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • Dow 30

    28,725.51
    -500.10 (-1.71%)
     
  • Nasdaq

    10,575.62
    -161.89 (-1.51%)
     
  • Russell 2000

    1,664.72
    -10.21 (-0.61%)
     
  • Crude Oil

    79.74
    -1.49 (-1.83%)
     
  • Gold

    1,668.30
    -0.30 (-0.02%)
     
  • Silver

    19.01
    +0.30 (+1.62%)
     
  • EUR/USD

    0.9801
    -0.0018 (-0.1862%)
     
  • 10-Yr Bond

    3.8040
    +0.0570 (+1.52%)
     
  • Vix

    31.62
    -0.22 (-0.69%)
     
  • GBP/USD

    1.1166
    +0.0043 (+0.3841%)
     
  • USD/JPY

    144.7290
    +0.2860 (+0.1980%)
     
  • BTC-USD

    19,410.14
    +3.99 (+0.02%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • FTSE 100

    6,893.81
    +12.22 (+0.18%)
     
  • Nikkei 225

    25,937.21
    -484.84 (-1.83%)
     

Cigna's (CI) Arm Adds Five Digital Health Apps to Its Platform

·4 min read

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%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Humana Inc. (HUM) : Free Stock Analysis Report
 
Cigna Corporation (CI) : Free Stock Analysis Report
 
AMN Healthcare Services Inc (AMN) : Free Stock Analysis Report
 
Senseonics Holdings, Inc. (SENS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research