February 08, 2016 09:35 AM Eastern Standard Time
BLOOMFIELD, Conn.--(BUSINESS WIRE)--Cigna (NYSE: CI) has entered into an outcomes-based contract with the pharmaceutical company Novartis for the drug Entresto, which was approved by the U.S. Food and Drug Administration for the treatment of heart failure with reduced ejection fraction. The pay-for-performance agreement ties the financial terms to how well the drug improves the relative health of Cigna's customers. The primary metric is reduction in the proportion of customers with heart failure hospitalizations.
"Competitive drug prices are important, but equally so is ensuring that customers' medications are actually working as, or better than, expected. Outcomes-based contracts require that prescription medicines perform in the real world at least as well as they did during clinical trials and are a valuable tool for improving health and managing costs. When pharmaceutical companies stand behind the performance of their drugs through these kinds of contracts, we can deliver the most value to Cigna's customers and clients for the money they are spending," said Christopher Bradbury, senior vice president, integrated clinical and specialty drug solutions for Cigna Pharmacy Management.
This agreement is effective for Cigna's commercial business. Entresto is a preferred brand subject to prior authorization review. The prior authorization process is part of utilization management to help control prescription drug costs and ensure coverage of the most appropriate drug therapies.
Customer engagement is also a critical component for delivering improved financial and clinical outcomes. Cigna's pharmacists and nurses are involved in providing focused clinical care which includes monitoring a customer's medication adherence, side effects and drug interactions; reviewing lab values and collaborating with customers' physicians when adjustments are needed.
Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and has more than 90 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.
Karen Eldred, 860-787-7015