Evernorth drives Cigna's Q2 revenue growth despite more return to care than expected

Evernorth drives Cigna’s Q2 revenue growth despite more return to care than expected

Healthcare DIVE August 5, 2021
Shannon Muchmore

Dive Brief:

Cigna executives said Thursday that COVID-19-related costs were higher than expected in the second quarter, as was the amount of care not directly related to the virus as patients returned for services.
Still, the payer reported a 10% year-over-year increase in revenue to $43.1 billion, beating Wall Street expectations. The growth was driven primarily by its health services segment, Evernorth, which CEO David Cordani said was “clearly a standout” on a Thursday morning call with investors.
Use of behavioral health services among customers was up 40% in the quarter. Executives said on the call that they viewed this as a growth opportunity going forward as well, particularly for virtual visits considering Cigna’s acquisition of MDLive in February.

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2021-08-05T21:09:05-04:00