Cigna acquires Express Scripts for 67 billion, does further consolidation help lower costs or improve service to providers? We are always hearing about these acquisitions and how they help lower costs but are these savings ever passed to providers in the form of better reimbursements or to the consumers? I doubt it and would love to see a study that proves me wrong.
Cigna is notoriously one of the more difficult payers to deal with when going through the credentialing process, so maybe this is will help them improve their customer service…. In addition, compared to their competition, they have some of the lowest market fee schedules when it comes to reimbursements. It’d be nice if they could leave some money in their budget to improve their Cigna Market Fee Schedule and do their part in keeping physicians in private practice. The mass exodus by physicians away from private practice to the hospitals/health plans has dramatically increased the costs of healthcare and is directly related to the rise in insurance premiums.
CIGNA Acquires Express Scripts for 67 Billion
“On March 8, 2018, Cigna announced it entered into a definitive agreement to acquire Express Scripts, a pharmacy services company. Together, we will create an expanded portfolio of health services that offers greater choice, alignment and value for everyone we serve. With more comprehensive health and well-being engagement between health care professionals and those they serve, we will make it an easier experience for individuals throughout their health care journey.
The combined company will build on the success of Cigna and Express Scripts, bringing together two innovative, complementary and customer-centric health service leaders to chart a healthier, more affordable, and more personalized health care journey for consumers. We are very excited about the opportunities this combination creates for our company, including improving holistic, personal and data-driven, value based care. We will continue to communicate with you as information becomes available. We welcome and, in fact, seek your input to help us achieve our goal of improving health, affordability, customer and provider experience.
This announcement does not alter our current day-to-day operations or our relationships. This news also does not have an impact on the benefits members have today, and does not alter any of our health plans’ agreements with physicians, hospitals and other health care clinicians. We will continue operating our business as usual, delivering quality health products and services in an open architecture and ensuring our employer clients, broker partners and individual customers have access to the care they need.”
Via Cigna Provider Communications