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.
On June 15, 2021, Alignment Healthcare announced plans to expand its Medicare Advantage coverage in North Carolina, adding 12 new counties in 2022. This expansion will bring their HMO and PPO plans to a total of 15 counties, pending regulatory approval. With current offerings in Wake, Johnston, and Chatham counties, Medicare-eligible seniors in the new counties can enroll from October 15 to December 7, 2021. The plans feature benefits like grocery allowances and non-emergency transportation, enhancing care coordination for seniors.
Alignment Healthcare (NASDAQ: ALHC) is set to expand its Medicare Advantage plans into Arizona in 2022, targeting nearly 1 million eligible seniors. The new HMO and PPO options, subject to regulatory approval, will be available during the annual enrollment period starting Oct. 15, 2021. This initiative highlights the company's commitment to delivering high-quality, data-driven senior care, particularly emphasized during the pandemic. Over the past five years, Alignment has reported a 40% annual growth rate and a notable Net Promoter Score of 65, reflecting strong customer satisfaction.
Alignment Healthcare, a tech-enabled Medicare Advantage company, announced that CEO John Kao and CFO Thomas Freeman will participate in the 42nd Annual Global Healthcare Conference on June 9, 2021, at 4:40 p.m. ET. The event includes a fireside chat, and interested parties can access the webcast through Alignment Healthcare's investor relations website.
Alignment Healthcare aims to provide tailored healthcare solutions to seniors and chronically ill patients in the U.S. through innovative Medicare Advantage plans, focusing on clinical coordination and technology facilitation.
Alignment Healthcare (NASDAQ: ALHC) announced that CEO John Kao will participate in the inaugural Forbes Health in Action summit on June 8, 2021. The virtual event focuses on healthcare shifts post-pandemic and will explore disparities exacerbated by COVID-19. Kao will address 'Reaching Vulnerable Populations in the Pandemic,' discussing gaps in healthcare for seniors. Other speakers include Moderna’s CEO Stéphane Bancel. Alignment Healthcare aims to provide customized Medicare Advantage plans for seniors and those in need.
Alignment Healthcare has introduced the Harmony (HMO) Plan, celebrating AAPI Heritage Month. This Medicare Advantage plan allows members access to traditional Eastern medicine like acupuncture and chiropractic services without additional costs. Over 1,800 members have already enrolled within its first year. The plan is designed for diverse senior communities in Santa Clara and San Diego counties, featuring zero monthly premiums, 19 acupuncture visits, and a $30 monthly allowance for over-the-counter items. The plan also includes virtual care access and additional health services.
Alignment Healthcare's Care Anywhere program, launched in 2017, serves over 4,000 high-risk Medicare Advantage members, achieving a Net Promoter Score of 76, significantly higher than the industry average of 30-40. The program reduces care costs through coordinated virtual care tailored to seniors with chronic conditions. Following the COVID-19 pandemic, all patient interactions shifted to virtual platforms. Care Anywhere has successfully lowered hospitalization and emergency visit rates compared to standard Medicare performance, significantly impacting claims expenditures for at-risk members.
On May 24, 2021, Alignment Healthcare (Nasdaq: ALHC) announced participation in the 41st Annual William Blair Growth Stock Conference. CEO John Kao and CFO Thomas Freeman will engage in a fireside chat on June 3, 2021, at 1:40 p.m. ET. The event can be accessed via webcast, with links available on the company’s investor relations page.
Alignment Healthcare is a tech-enabled Medicare Advantage company focused on delivering personalized health care to seniors and chronically ill patients. They provide customized care through various health plan options aimed at improving benefits and lowering costs.
Alignment Healthcare reported strong first-quarter results for 2021, with health plan membership growing 32% year-over-year to approximately 83,100. Total revenue reached $267.1 million, a 19% increase, primarily driven by a 30% rise in health plan premium revenue, totaling $264.7 million. Adjusted gross profit stood at $22.6 million, while adjusted EBITDA was $(14.0) million. Looking ahead, the company forecasts membership between 83,300 and 83,700 and expects revenue of $265 to $270 million for the second quarter. Total cash as of March 31, 2021, was $528.4 million.
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Alignment Healthcare (ALHC) will report its Q1 2021 financial results on May 17, 2021, post-market. The company focuses on Medicare Advantage, offering technology-enabled, customized health care for seniors and chronically ill patients. The results will be discussed in a conference call at 5 p.m. E.T., accessible to both U.S. and international participants. The conference will also be available as a replay for on-demand listening for up to 12 months at their investor relations website.