Alignment Healthcare Details Positive Impact Toward Delivering Better Care in Inaugural ESG Report
Data shows how Medicare Advantage company’s efforts in 2021 improved member health; outlines environmental, social and governance approach
ORANGE, Calif., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Alignment Healthcare (NASDAQ: ALHC), a tech-enabled Medicare Advantage company, today issued its inaugural environmental, social and governance (ESG) report, highlighting that it delivered better care at lower costs across key metrics in 2021 when compared to traditional Medicare fee-for-service. The results amplify Alignment’s commitment to improving health outcomes and striving toward better health access for all, regardless of health or wealth.
Alignment’s report is a comprehensive review of its efforts and impact in 2021, establishing a foundation for how the company assesses ESG factors that are material to its business. Its ESG approach is designed around three pillars:
- Serving People (social) – focused on how the company’s products and services affect members, physician partners, employees as well as communities and the public;
- Serving the Environment (environmental) – focused on its operations and their carbon footprint; and
- Serving Responsibly (governance) – focused on conducting business in compliance with all applicable rules and regulations while managing risk and ensuring independent and diverse oversight.
“From Day 1, our company has always focused on service and impact, with a mission of improving health care one person at a time, especially for our most vulnerable senior population,” said John Kao, founder and CEO, Alignment Healthcare. “While we are proud of our efforts to date, this is just the beginning. We are committed to doing more and better for our members and their families, our employees and all of our stakeholders in the communities we serve."
Key areas of impact in 2021 focused on:
- Driving better, more positive health outcomes through high-quality, low-cost care that resulted in a
52% reduction in 2021 emergency room (ER) visits among Alignment members compared to 2019 Medicare fee-for-service ER visits and a26% reduction in member 30-day readmission rates compared to 2019 Medicare fee-for-service readmission rates. - Addressing unique health needs with coordinated care. For example, proactive diabetes care through Alignment’s Care Anywhere program drove a 1.2-point average reduction in our members’ average blood sugar levels (HbA1c) after 12 months of enrollment, which is estimated to drive a greater than
20% reduction in diabetes-related deaths.1 - Delivering care that addresses social determinants of health and proactively tackling the root causes of chronic health issues, including:
- More than 91,000 rides (inclusive of wheelchair assistance), reducing transportation barriers so members can get to the care they need
- More than 14,000 companion care visits that provide general companionship, assistance around the home and technology support
- More than 16,600 meals to members to address food insecurity
- Serving through the diversity of representation, with roughly two-thirds of our employees and
45% of our members being African American, Asian, Hispanic/Latino, Indigenous or of other non-white background, and nearly70% of our staff and55% of our members being women. - Committing to ongoing COVID-19 relief with Alignment's crisis meal delivery program, providing two weeks of prepared meals to members who qualified, including those who lived alone or did not have other means of accessing food, totaling more than 19,600 meals distributed.
The ESG report builds on Alignment’s focus on long-term sustainability as a business. To learn more about Alignment’s impact and its ongoing ESG work, visit www.alignmenthealthcare.com/esg.
About Alignment Healthcare
Alignment Healthcare is a consumer-centric platform delivering customized health care in the United States to seniors and those who need it most, the chronically ill and frail, through its Medicare Advantage plans. The company provides partners and patients with customized care and service where they need it and when they need it, including clinical coordination, risk management and technology facilitation. Alignment Healthcare offers health plan options through Alignment Health Plan, and also partners with select health plans to help deliver better benefits at lower costs.
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to attract new members and enter new markets, including the need for certain governmental approvals; our ability to maintain a high rating for our plans on the Five Star Quality Rating System; risks associated with being a government contractor; changes in laws and regulations applicable to our business model; changes in market or industry conditions and receptivity to our technology and services; results of litigation or a security incident; the impact of shortages of qualified personnel and related increases in our labor costs; and the impact of COVID-19 on our business and results of operation. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our Annual Report on Form 10-K for the year ended December 31, 2021, and the other periodic reports we file with the SEC. All information provided in this release is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.
Investor Contact
Harrison Zhuo
hzhuo@ahcusa.com
Media Contact
Priya Shah
mPR, Inc. for Alignment Healthcare
alignment@mpublicrelations.com
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1 https://pubmed.ncbi.nlm.nih.gov/10938048/
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2b7d1432-3694-4f5f-9ad9-b4dae7dafe51
