Cigna (CI) is an American worldwide health services organization. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups (e.g. governmental and non-governmental organizations, unions and associations). Cigna also offers Medicare and Medicaid products and health, life and accident insurance coverages primarily to individuals in the U.S. and selected international markets. In addition to its ongoing operations described above, Cigna also has certain run-off operations, including a Run-off Reinsurance segment. In the Phoenix, Arizona, metropolitan area, Cigna runs a full-service staff-model HMO (health maintenance organization) with satellite clinics throughout the region, known as the Cigna Medical Group. Their tag line is 'We Can Help You Be at Your Best'
Reported before open today (5/6/16) Earnings: EPS $2.32 Revenue $9.9B Estimates: EPS $2.17 Revenue $9.6B Up 0.42% pre-market
Shares of Cigna (CI) saw pre-market strength after the health insurer reported better than expected first quarter results and raised its full-year guidance.
How Cigna Saves Millions by Having Its Doctors Reject Claims Without Reading Them Internal documents and former company executives reveal how Cigna doctors reject patients’ claims without opening their files. “We literally click and submit,” one former company doctor said. https://www.propublica.org/article/cigna-pxdx-medical-health-insurance-rejection-claims One doctor was able to reject 60,000 claims in a month. There are laws that the claims must be read by a doctor, but Cigna's legal team says it is okay. I guess the argument is that the algorithm, created by a doctor, reads it, and gets signed off by a doctor in 1.2 seconds.
