With the exit of Eric Palmer reportedly Evernorth is going back "under" Cigna - but is that truly the case? The budgets for all departments have been slashed, the technology in behavioral is even further behind medical. Cordani is stating he wants to invest in becoming more digital - but that doesn't seem to be the case for Evernorth. To make things worse band 4 and 5 are being asked to write down the tasks they do so they can show the Chief Medical Directors, at least for OPS. Where does Evernorth go now? Things are not adding up.
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“with a bit of Accredo and Evicore business- although that's a disaster”
Can anyone comment on this? Why EviCore business is a disaster?
I’m worried, I hear even more layoffs are expected to be announced this week. As others have said budgets for 2025 slashed and mgmt heavily pushing HIH instead of looking at domestic talent
Expanded role? Which one are you referring to?
"Look at the failure of moving Behavioral Health under Evernorth. We basically have no new business, it's just Cigna Healthcare."
Exactly. And of course the person who leads Behavioral doesn't get fired - instead they get an expanded role. You can't make this stuff up.
The Evernorth experiment has been a total failure. We have not been able to expand the products we sell to other health plans. Evernorth is essentially still the PBM and pharmacy (with a bit of Accredo and Evicore business- although that's a disaster). Those are the SAME businesses than Express Scripts owned before the merger. No new value has been created. Look at the failure of moving Behavioral Health under Evernorth. We basically have no new business, it's just Cigna Healthcare. The dream of Evernorth becoming something like Optum is history and the announcement that everything is moving under Evanko confirms it.
Express Scripts is a huge moneymaker for Cigna.
We’ll all feel the pain of falling stock prices when state and federal gov starts passing legislation to reel in PBMs.
That must be why ESI was acquired...the shareholders were tired of being too profitable?
Evernorth is the bread winner for Cigna. Before the merger, Express Scripts got more revenue than Cigna. When the merger happened, we used to have ESPP purchase and 6% 401k match. I miss those days.