Cigna held its 2021 Investor Day on March 8th to speak with the investment community and our shareholders about our growth strategy and our steadfast focus on delivering for customers, clients, patients, providers, employees and the communities we serve.
Our leaders gathered virtually from across the globe — streaming from Cigna’s Connecticut headquarters, as well as Virginia, Florida, Chicago, St. Louis and Dubai, UAE — to provide perspective on trends shaping the health care landscape and how our 70,000+ colleagues from over 30 countries and jurisdictions drive forward our mission. Over 400 investors, analysts and members of the media tuned into the event.
In case you missed it, take a moment to read highlights from the day’s presentations or listen/watch the full video at www.Investors.Cigna.com.
Growth with purpose
David Cordani, president and chief executive officer, and Brian Evanko, chief financial officer, explained how our purpose and growth-orientation shapes our culture and informs our actions.
Cigna’s purpose “is our North Star, it guides everything we do,” said Cordani. “It guided our response to COVID-19 where we took decisive actions to support our clients, customers, patients, partners and communities. It compelled us to speak out against racism and re-affirm our commitment to diversity, inclusion, equity and equality. It continually requires us to ask what more we can do to be a force for positive change inside and outside the walls of our company.”
“In health care, our purpose guides our efforts to make it more affordable, predictable and simple,” he continued. “While these may sound like three simple and ordinary words, they are in fact a call to action for our organization.”
Forces fundamentally changing the health care landscape
Cordani also addressed how we are well-positioned to thrive and leverage emerging macro-forces shaping the future state of health care.
“First, there is an acceleration of pharmacological innovations, such as specialty pharmaceuticals, gene therapies, oncology medications, vaccines and the evolution of biosimilars — all of which represent the future of health care,” Cordani continued. “Second, there is also greater recognition of the link between mental and physical health. For example, we know someone with a chronic medical condition is more likely to have an underlying mental health or substance-related illness. Third, there are rapidly changing access to care models — and the emergence of virtual care is an important example.”
“Our businesses are well-positioned today and in the future to capitalize on these macro trends and thrive during times of change,” said Evanko. “Our growth framework positions us for sustained, long-term growth under a variety of scenarios, and we have the cash flow to further fuel our business and strategy, creating even more opportunity for attractive shareholder returns.”
Delivering differentiated value for customers and clients
Matt Manders, president of Cigna Government & Solutions, and Amy Bricker, president of Express Scripts, discussed how we’re able to grow our businesses, through the differentiated value of our solutions, services and capabilities and superior execution.
“Now, as we enter our next phase, we are intensifying our efforts to further improve affordability, pulling even more costs out of the system and proactively addressing future cost drivers,” said Manders. “Our intensified affordability approach targets the largest components of client health spend and differentiates across four dimensions: providing access to high-performing providers who deliver the highest quality care, by lowering the cost of drugs, by guiding customers to the most effective sites of care, and by removing fragmentation through end-to-end clinical solutions that bring together the highest quality, cost-effective providers and services.”
While speaking about solutions that maximize the value of clinical programs, Bricker added, “We have introduced breakthrough value-based partnerships with pharmaceutical manufacturers – programs that protect patients from high out-of-pocket costs.”
Bricker gave the example of our Patient Assurance Program which caps the price of insulin at $25 for a 30-day supply, which on average saves patients 40% or more.
“This improves adherence by creating affordable access to medications coupled with digital engagement tools that help patients take them as prescribed,” she said.
Partnering and innovating
Jason Sadler, president of Cigna International Markets, joined Tim Wentworth, CEO of Evernorth, to discuss how we are partnering across the healthcare ecosystem and relentlessly innovating to deliver even more value for our stakeholders.
“We have a powerful track record of innovation – and that is a function of three key differentiated, tangible assets: capabilities, scale and distribution, and a culture of innovation,” said Wentworth. “Every day, teams of physicians and pharmacists, data and behavioral scientists, researchers, designers and developers come together to change health care from the inside out.”
“Our four joint ventures in China, India, Turkey and, most recently, Australia are a great example of how partnership allows us to enter new markets, with a combination of global knowledge and local insights and expertise, to deliver innovative solutions that drive more affordable, predictable and simple health care,” said Sadler.
“Partnership is in our DNA – and it is also at the heart of our strategy,” Wentworth continued. “We know that to deliver on our promise of affordability, simplicity and predictability we must be the undisputed partner of choice for anyone seeking to make health care better.”
Expanding our addressable market
Joan Harvey, president of Evernorth Care Solutions, Mike Triplett, president of U.S. Commercial, and Aparna Abburi, president of Medicare Advantage, joined Eric Palmer, president and COO of Evernorth, to talk through the new solutions, services and capabilities that will drive expansion, enabling us to reach more customers, and in turn, serve more lives than ever before.
“We see meaningful opportunity to improve access and efficiency of care in today’s dynamic marketplace,” said Palmer. “Care models are rapidly changing, and we are positioned to continue to improve the experience and value our clients and customers receive. We remain enthusiastic about these areas as they provide us with the ability to pursue a variety of channels that will contribute to future growth.”
“As part of Evernorth, our behavioral business is broadening its reach,” said Harvey. “Not only serving Cigna’s U.S. Commercial clients, but also health plans and other employer relationships, providing behavioral solutions through coordinated services during a time when the connection between virtual care and behavioral health services has never been more relevant.”
“Looking ahead, the combination of our improved affordability, with our full suite of funding solutions, coupled with our deeply consultative sales approach, is a differentiator that will drive accelerated growth,” added Triplett.
“We’re also well positioned to reach a broader set of customers through our expanded suite of product offerings,” said Abburi. “We offer customers plans that best suit their preference no matter their budget, health status, or life-stage – such as consumers aging into Medicare.”