PBMI Recognizes Cigna with Excellence Award for Cost Containment
BLOOMFIELD, Conn.--(BUSINESS WIRE)--Mar 7, 2019--The Pharmacy Benefit Management Institute (PBMI) has recognized Cigna Pharmacy Management 1 with an Excellence Award for Cost Containment for its multi-year effort demonstrating the value of integrated benefits for its customers and clients. Results from Cigna’s 2018 Value of Integration study show that individuals who have their medical, pharmacy and behavioral health benefits connected and administered by Cigna have higher levels of engagement in their health and well-being than those whose benefits are not fully integrated, resulting in reduced total medical costs.
“PBMI is dedicated to awarding organizations for their contributions in promoting strategies that address the cost challenges of prescription drug management for plan sponsors,” said Jane Lutz, executive director, PBMI. “We commend Cigna for efforts to tackle a long-standing and complicated healthcare challenge, proving the value of integrated benefits.”
Results from the 2018 study showed increased customer engagement and savings for Cigna clients with connected medical, pharmacy and comprehensive behavioral health benefits over those with only medical and standard behavioral benefits administered by Cigna. Clients saved an average of $193 in medical costs for each covered person and $645 annually for each covered person identified with a health improvement opportunity. For engaged customers with a specialty condition such as multiple sclerosis or rheumatoid arthritis, clients saw average medical cost savings jump to $9,792 per year.
When benefits were integrated, 22 percent more people engaged in health coaching and case management programs. High-cost medical claims for customers were reduced by 9 percent.
“Addressing the whole person in a truly connected manner across medical, pharmacy and behavioral continues to drive greater and deeper health engagement, leading to better results for our customers and clients,” said Chris Bradbury, senior vice president, Cigna.
About the Pharmacy Benefit Management Institute
The Pharmacy Benefit Management Institute (PBMI) is the nation’s leading provider of research and education that informs, advises, and influences the industry on topics related to drug cost management. PBMI offers research, continuing education, and web resources to help all critical stakeholders work better together to optimize the overall value of drug benefit programs. Learn more at www.pbmi.com.
About the Study
Cigna conducts the Value of Integration Study annually to assess and evaluate opportunities to optimize health plan benefit designs. Cigna’s 2018 Value of Integration Study examined approximately 4.9 million customer claims nationally from January 2016 to December 2017 from medical claims for group benefit plans. Approximately half of the population had comprehensive medical, behavioral and pharmacy benefits administered by Cigna while the other half had only medical benefits with standard behavioral benefits administered by Cigna. Customers were matched between the two groups on key attributes, including demographics, health condition, access to health improvement services, plan design and geographies. Individual customer/client results may vary.
Cigna Corporation (NYSE: CI) is a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Life Insurance Company of North America, Cigna Life Insurance Company of New York, Express Scripts companies or their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance.
Cigna maintains sales capability in over 30 countries and jurisdictions, and has more than 160 million customer relationships throughout the world. To learn more about Cigna ®, including links to follow us on Facebook or Twitter, visit www.cigna.com.
1 Cigna Pharmacy Management ® is a division of Cigna Health and Life Insurance Company that performs PBM services for Cigna-affiliated health plans and other clients.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190307005468/en/
CONTACT: Ellie Polack
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL PROFESSIONAL SERVICES INSURANCE GENERAL HEALTH MANAGED CARE
SOURCE: Cigna Corporation
Copyright Business Wire 2019.
PUB: 03/07/2019 10:33 AM/DISC: 03/07/2019 10:32 AM