Here are five things to know about the health insurer’s first-quarter financial results.
1. Cigna reported consolidated revenues of nearly $9.5 billion for the first quarter of fiscal 2015, up about 11 percent from a year earlier.
2. The company’s first-quarter premiums and fees were up 12 percent from a year earlier, which was largely driven by customer growth in Cigna’s commercial and government businesses.
3. Cigna’s total medical customers grew to 14.7 million in the first quarter, compared with 14.2 million a year earlier.
4. The health insurer reported net income of $533 million, or $2.04 per share, which beat the average analyst projection of earnings of 1.84 per share on $9.28 billion in revenue, according to The Wall Street Journal.
5. Based on its first-quarter financials, Cigna expects full year adjusted income from operations in the range of $8.15 to $8.50 per share, up from its previous forecast of $8 to $8.40 per share.
More articles on payer issues:
7-Eleven: The one-stop shop for Slurpees and health insurance?
UnitedHealth posts $1.4B profit for Q1
Aetna fined $1M over pharmacy network errors
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
