Cigna invests $100 million in new AI-powered specialty pharmacy program
FILE PHOTO: AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
July 1 : Cigna said on Wednesday its health services unit Evernorth has launched a new AI-powered specialty pharmacy program to reduce the time it takes to process prescriptions and improve customer service.
The program, called Pharmacy Forward, is supported by a $100 million investment through 2028, the health insurer said.
Here are more details:
• The company is launching the AI program first through its specialty pharmacy, Accredo.
• The program uses AI to integrate clinical data and insights, generate summaries to free up more time for clinicians to focus on patient care.
• 'Pharmacy Forward' is expected to reduce clinician documentation time by up to 50 per cent, the company said.
• The program uses AI to improve prior authorization requests, halving the time it takes for patients to receive their medication after Accredo receives a prescription, the company said.
• Health insurers are increasingly adopting artificial intelligence tools to streamline documentation processes, reduce administrative burdens and lower costs.
• Accredo is also expanding capacity, staffing, and capabilities at many of its nearly 40 care facilities, Cigna said.
• The program is expected to generate about $400 million in value by the end of 2028, with Evernorth expecting to extend many of these capabilities to its other pharmacy operations in the coming years, it said.
