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Alignment Healthcare, Inc. (NASDAQ: ALHC) is a forward-thinking healthcare company dedicated to transforming the health care industry by prioritizing individuals over payments. The company has pioneered an innovative model of healthcare delivery that focuses on reducing costs while enhancing the quality of life for patients, particularly seniors, and those with chronic conditions. By leveraging best practices from Medicare Advantage, Alignment Healthcare utilizes advanced data-management technologies to provide tailored care for seniors, including the frail and chronically ill.
With a prominent presence across the United States, Alignment Healthcare operates various care centers and offices to offer customized care and services. These include clinical coordination, risk management, and technology facilitation. The company provides an array of health plan options, including HMO plans available to California residents through the Alignment Health Plan, and partners with select health plans in North Carolina and Florida. These collaborations aim to deliver superior benefits at reduced costs.
Alignment Healthcare is distinguished by its tech-enabled Medicare Advantage platform, which markets and sells these plans directly to consumers, allowing seniors to choose their preferred healthcare coverage and services annually. This innovative approach combines a technology platform and clinical model to achieve better health outcomes.
In recent news, Alignment Healthcare has made headlines by becoming the first Medicare Advantage plan to offer Instacart as a benefit, bringing food-as-medicine programs to chronically ill seniors in 13 counties across California and Nevada. This partnership underscores the company's commitment to addressing critical social barriers to senior health, such as food insecurity and transportation access. Furthermore, Alignment Healthcare's third quarter 2023 financial results showcased strong performance, including a 26.7% year-over-year increase in total revenue and an 18% growth in Medicare Advantage enrollment.
With a mission to redefine senior care, Alignment Healthcare continues to expand its offerings, now providing over 50 benefits-rich Medicare Advantage plans across 53 counties in six states. The company's purpose-built technology, AVA®, along with its 24/7 concierge care team, ensures high-quality, low-cost care for its members.
For more detailed information on Alignment Healthcare and its services, visit www.alignmenthealth.com.
Alignment Healthcare (NASDAQ: ALHC) announced a new PPO plan with Scripps Health, expanding its San Diego County network, effective Jan. 1, 2022, pending regulatory approval. This exclusive plan provides members access to Scripps' extensive healthcare resources, including top-ranked hospitals and clinics.
Since entering the San Diego market in 2019, Alignment has offered various Medicare HMO options and aims to enhance healthcare access for seniors. The new plan adds 1,100 providers, fostering better care for Medicare-eligible residents, affirming Alignment's commitment to improving health outcomes.
Alignment Healthcare (NASDAQ: ALHC) announced measures to enhance senior health safety amid the COVID-19 Delta variant. The company has actively supported seniors by offering meal deliveries and transportation to vaccination sites, achieving an 80-90% vaccination rate among members. Additionally, it launched a virtual-first health plan leveraging its proprietary technology, AVA®, to remotely monitor members’ health every 30 minutes. These initiatives aim to provide customized care while ensuring the safety of vulnerable populations during the pandemic.
Alignment Healthcare (NASDAQ: ALHC) has announced the inclusion of CareMore Health in its provider network across Arizona and Nevada, effective January 1, 2022, pending regulatory approval. This partnership enhances care options for Alignment Health Plan members, particularly during the upcoming Medicare enrollment period from October 15 to December 7, 2021.
With access to 3,350 CareMore providers, members will benefit from additional services, such as virtual fitness classes and 24/7 concierge support. This move aligns with Alignment’s growth strategy, fostering better healthcare outcomes for seniors.
Alignment Healthcare (NASDAQ: ALHC) has partnered with Rite Aid (NYSE: RAD) to launch a co-branded Medicare Advantage product starting January 1, 2022, targeting six Southern California markets. This initiative aims to serve approximately 3.6 million Medicare-eligible residents, pending regulatory approvals. The new product includes Alignment’s ACCESS On-Demand Concierge services, offering members a special 'black card' for eligible purchases at Rite Aid, along with 24/7 concierge support. This collaboration reflects Alignment’s commitment to better healthcare access for seniors.
Alignment Healthcare (Nasdaq: ALHC) reported strong Q2 2021 results, with a 32% increase in health plan membership, reaching approximately 84,700. Total revenue surged 26% year-over-year to $309 million, primarily driven by a 32% growth in health plan premium revenue, totaling $293.4 million. Despite these gains, the company recorded an adjusted EBITDA loss of $4.7 million and a net loss of $44.8 million. The company raised its full-year outlook, bolstered by successful market expansion and provider network growth, indicating momentum heading into 2022.
Alignment Healthcare (NASDAQ: ALHC) announced that it will add Cedars-Sinai to its PPO provider network starting January 1, 2022, pending regulatory approval. This partnership enhances care options for Medicare-eligible seniors in Los Angeles, providing access to Cedars-Sinai’s top physicians without increased medical costs. With over 1.5 million Medicare seniors in the area, the collaboration includes access to 1,780 Cedars-Sinai providers and two hospitals. Alignment's plans continue to offer popular benefits, emphasizing its mission to improve senior care nationwide.
Alignment Healthcare has expanded its Medicare Advantage plans into 16 new markets, reaching a total of 38 markets across four states in 2022. This strategic move targets over 6.9 million Medicare-eligible individuals. Key offerings include new PPO and special needs plans. Additionally, the company focuses on enhancing member care through personalized benefits, such as grocery allowances and virtual fitness classes, alongside its 24/7 concierge service. Medicare's annual enrollment starts on October 15, 2021, enabling further access for potential members.
Alignment Healthcare (NASDAQ: ALHC) has appointed Afzal Shah as senior vice president and California market president. Shah, with over 25 years of healthcare experience, will oversee operations in California, where Alignment offers plans in 18 counties. His prior roles include vice president at Centene Corporation and various executive positions at Health Net. Shah expresses commitment to expanding Alignment's member-centric approach in California, which has the highest senior population in the country. This leadership change is expected to enhance growth in a key market.
Alignment Healthcare (NASDAQ: ALHC) announced an expansion of its Medicare Advantage plans into Maricopa and Pima counties, Arizona, starting in 2022. This move, pending regulatory approval, will allow nearly 1 million Medicare-eligible seniors access to HMO and PPO options during the enrollment period from Oct. 15 to Dec. 7. Alignment aims to improve patient outcomes while reducing costs in collaboration with Arizona Care Network, which boasts 5,500 providers. Popular benefits include virtual exercise classes and a 24/7 concierge service.
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