(Corrects headline and paragraph 1 to clarify that Cigna is not investing $3 billion, but expecting that amount in cost savings by 2030) Sept 30 (Reuters) – Cigna on Wednesday announced a new program that aims to deliver about $3 billion in cost savings by 2030 by focusing on modernizing processes and streamlining workflows with […]
Health
Cigna expects $3 billion in cost savings by 2030
Audio By Carbonatix
(Corrects headline and paragraph 1 to clarify that Cigna is not investing $3 billion, but expecting that amount in cost savings by 2030)
Sept 30 (Reuters) – Cigna on Wednesday announced a new program that aims to deliver about $3 billion in cost savings by 2030 by focusing on modernizing processes and streamlining workflows with AI-enabled insights and tools.
Here are some details:
• The health insurer expects its adjusted earnings per share to grow 10% to 14% annually through 2030.
• It also expects to generate about $50 billion in cash from its operations over the five-year period from 2026.
• Cigna has been actively investing in artificial intelligence tools to identify patients with chronic conditions, an initiative that is expected to save customers $200 million in medical costs over the next three years.
• The company reiterated its forecast for 2026, expecting annual revenue of about $280 billion and a per-share adjusted profit of at least $30.45.
• Cigna is hosting its investor event on Wednesday.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shinjini Ganguli)