Health insurer Cigna said more of its customers are once again taking advantage of preventative care offerings after a dropoff at the height of the COVID-19 pandemic.
During an earnings call with analysts Friday morning, Cigna President and CEO David Cordani said Cigna-insured patients are undergoing mammograms, colonoscopies and cervical cancer screenings and getting their children vaccinated at rates comparable to the months before the coronavirus reached the U.S.
“That’s a tremendous result,” Cordani said. “The national data we see more broadly is that utilization of preventative care services is at a more dampened rate, but ours is at an elevated or more consistent rate from that standpoint, which is quite important.”
COVID-19 temporarily shut down preventative medical services at some hospitals and doctors offices. Even after coming back online, utilization of those services has remained lower than normal, likely due to disruptions of scheduled appointments and a general hesitancy on the part of the public to access medical facilities because of a perceived risk of contracting COVID-19.
Cigna has stressed the importance of preventative medicine as a key to controlling U.S. healthcare costs, which are among the highest in the world.
A recent company review found that spending about $2,000 on behavioral health counseling and support for certain patients with chronic illnesses saved about $20,000 in future medical expenses, according to company officials.
Cigna also disclosed that it is offering a $200 incentive to its employees to get vaccinated against COVID-19.
Cigna on Friday reported first-quarter net income of $1.2 billion, essentially flat when compared to the year-ago period. Adjusted net income from operations declined slightly, from $1.8 billion to $1.7 billion. Company officials attributed that slide to non-recurring expenses but pointed out that performance across the conglomerate’s various segments, and especially its Evernorth brand, was strong.
Revenues grew from $38.4 billion in the first quarter of 2020 to $40.9 billion in the first three months of 2021.
