Chinese and American Healthcare Comparison by CIGNA CEO

Posted on Jun 30, 2010 by Sergio Ulloa (G+)  | Tags: healthcare reform

As well as being the fourth largest commercial insurer in the US, American health insurance giant CIGNA conducts approximately 20 percent of their business abroad, with most of the rapid growth coming from Asia, and in particular China. In the US domestic market, CIGNA mainly acts as a Health Management Organisation (HMO) providing larger-scale employers with insurance packages, whilst their main role in China is in selling supplemental packages to individuals wanting more coverage than what is available under basic government-provided plans. In the words of David Cordani, CEO of CIGNA, "It's a real critical part of our growth strategy. It's not new for Cigna, it's just an acceleration" commenting on the continued and significant growth experienced abroad. Further sharing his insights about the non-US marketplace, Mr. Cordani believes that the healthcare systems of both the US and China could learn from each other, explaining that in broader terms, the non-US marketplace has a very vibrant individual supplemental segment, from which to learn by providing people in the US with transparency, choice, and ready access to more retail-oriented policies. Conversely, the healthcare system in China could learn more about American population-based health programmes including health coaching, disease care and lifestyle programmes. Given that both countries are undergoing healthcare reforms on their respective healthcare systems, the insight offered by Mr. Cordani may be the type of food for thought needed to drive quality and cost improvements that will ultimately help make the new legislations correspondingly sustainable. Insurance Company mentioned: CIGNA A global health service company dedicated to helping people improve their health, well being and sense of security. CIGNA Corporation's operating subsidiaries provide an integrated suite of medical, dental, behavioural health, pharmacy and vision care benefits, as well as group life, accident and disability insurance, to approximately 46 million people throughout the United States and around the world.