ORANGE, Calif., Jan. 10, 2022 (GLOBE NEWSWIRE) — Alignment Healthcare (NASDAQ: ALHC), a tech-enabled Medicare Advantage company, today announced that its inpatient utilization in the fourth quarter of 2021 was about 5 percent lower than expected, even amid COVID-19.
“This further validates that our AVA health platform and differentiated care delivery model are working,” said John Kao, founder and CEO, Alignment Healthcare. “Delivering high-quality care at lower costs allows Alignment to provide consistent value to its members year in and year out. We are able to do well by doing good by improving the health and well-being of our members.”
Additionally, its health plan membership is at 92,700 as of Jan. 1, 2022, following its annual enrollment period (AEP). The growth represents an approximately 16 percent increase compared to its January 2021 health plan membership.
“We’ve taken a disciplined, long-term approach rather than adopting a model of growth-at-all-costs,” said Kao. “This AEP season follows years of consistent growth for Alignment while upholding high-quality standards. We’re creating value as a business and – importantly – delivering value to our members and their families.”
Alignment will remain focused on three core areas:
- Continuing to innovate on attractive coverage and benefits that address the whole person as it strives to meet the personalized needs of different ethnicities, acuities and income levels;
- Ensuring all members have access to coordinated care in an increasingly digital-first world by improving its concierge services to its members; and
- Engaging more deeply with its network of marquee provider partners across the country, while continuing to add more leading partners and trusted brands.
“Our focus has been, and will continue to be, long-term, sustainable success and becoming the most trusted health care brand for seniors,” added Kao. “To strengthen our benefit design structure and growth outcomes, we will continue to refine our distribution, network and supplemental benefit strategies this year.”
For 2022, Alignment serves 38 counties across four states, representing 7 million seniors, and offers more than 40 health plans, its largest and most diverse portfolio to date. The company also signed new partnerships with trusted and recognized providers for care, including Cedars-Sinai, Scripps Health, Hoag Memorial and Dignity Health.
For more information, visit www.alignmenthealthcare.com.
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. Alignment Healthcare 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.
This press 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. 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; 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 SEC reports, including our registration statement filed with the SEC on November 16, 2021, and our Quarterly Report on Form 10-Q filed with the SEC on November 4, 2021. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.
ICR Westwicke for Alignment Healthcare
mPR, Inc. for Alignment Healthcare