Cigna Corporation (NYSE:CI) Q4 2022 Earnings Call Transcript

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David Cordani : Sure. Good morning, Dave. So relative to RADV and the new information that came out, first and foremost, we deem that risk adjusters are and remain an important tool for the program. And as I noted before, a program that has worked obviously for quite some time for the benefit of seniors and delivering excellent clinical quality, value and service. Additionally, from a Cigna perspective, we remain committed to executing, obviously, this program in a highly compliant fashion. Now specific to the RADV actions, we’re pleased, the CMS concluded that they’re not going to extrapolate their actions prior to 2018. We’re concerned that we continue to question a couple of decisions. For example, the elimination of the fee-for-service adjuster that we deemed to be foundational to the program.

And we await specifics relative to the methodology that is going to be used in some aspects of the extrapolation and work as we have in the past and as we always will, we will work closely with CMS to seek to get further clarity relative to the open items that are here. So a bit of a fluid environment but we see progress relative to the lack of extrapolation beyond 2018, and we see some open questions for the industry at large that still remain, and we will collaborate with CMS to get more visibility on that over the near term.

Operator: I will now turn the call back to David Cordani for closing remarks.

David Cordani : Thank you. Just to briefly recap, 2022 was a strong year of performance, growth and positive impact that our company brought forward. With Evernorth and Cigna Healthcare, we demonstrated that we are serving the current needs of our customers, clients and partners, and we expect to deliver another year of customer and earnings growth in 2023. I want to recognize and more importantly, thank more than 70,000 co-workers around the world. It’s ultimately their continued dedication and leadership that allows us to make a defining difference in healthcare and their demonstrated commitment to building on the momentum we’ve delivered to have a larger impact as we look to the future as we strive to improve the health and vitality that of those we’re privileged to serve. With that, we thank you for joining our call today, and we look forward to our continued conversations as we go forward. Have a good day.

Operator: Ladies and gentlemen, this concludes Cigna’s Fourth Quarter 2022 Results Review. Cigna Investor Relations will be available to respond to additional questions shortly. A recording of this conference will be available for 10 business days following this call. You may access the recorded conference by dialing 800-839-2290 or 203-369-3607. There is no passcode required for this replay. Thank you for participating. We will now disconnect.

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