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Alignment Healthcare, Inc. reports developments tied to its Medicare Advantage business for seniors, including health plan membership, revenue growth, adjusted gross profit, adjusted EBITDA and annual guidance. The company operates under the Alignment Health consumer brand and works with local provider partners to deliver coordinated care through a customized care model, a 24/7 concierge care team and the AVA® technology platform.
Recurring updates include quarterly and full-year results, membership outlooks for HMO and PPO contracts, Medicare Advantage operating trends, investor conference presentations and registered offerings involving common stock. News also follows the company's expansion of health plan offerings and national footprint within senior care.
Alignment Healthcare (NASDAQ: ALHC) has expanded its Medicare Advantage provider network in Maricopa County, Arizona, by adding Dignity Health, effective January 1, 2022. This strategic partnership aims to enhance healthcare access for over 733,000 Medicare-eligible seniors, offering them access to nine hospitals, four urgent care centers, and 14 emergency rooms operated by Dignity Health. The collaboration emphasizes a senior-first care model, promising improved clinical outcomes and patient experiences, alongside added benefits like grocery allowances and a dedicated concierge service.
Alignment Healthcare (NASDAQ: ALHC) announced the inclusion of Arizona Priority Care in its Medicare Advantage network, effective Jan. 1, 2022. This partnership, pending regulatory approval, aims to serve nearly 1 million Medicare-eligible beneficiaries in Maricopa and Pima counties, granting access to 450 primary care doctors and 1,200 specialists. The collaboration is expected to enhance quality care for seniors in Arizona, benefiting from additional services such as grocery allowances and 24/7 concierge support during the annual enrollment period from Oct. 15 to Dec. 7.
Alignment Healthcare has appointed Dan Peterson as president of its Arizona market to spearhead its expansion efforts. With extensive leadership experience, including previous roles at Valor Health and CareMore Health Plan, Peterson aims to enhance Medicare Advantage access for seniors in Arizona, where nearly 50% of beneficiaries are enrolled in such plans. His appointment signals a strategic move towards improving healthcare delivery and innovation in new plans and benefits, as stated by company executives.
Alignment Healthcare (Nasdaq: ALHC) announced participation in two investor conferences. CEO John Kao and CFO Thomas Freeman will join the Wells Fargo 16th Annual Healthcare Conference on September 9, 2021, at 4:35 p.m. E.T. and the Morgan Stanley 19th Annual Virtual Global Healthcare Conference on September 10, 2021, at 3:30 p.m. E.T. Webcast links for these events will be available on their investor relations website. Alignment Healthcare focuses on customized healthcare solutions for seniors and the chronically ill through their Medicare Advantage plans.
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.