Business
Alignment Healthcare Celebrates One Year as a Public Company with Significant Revenue, Product and Membership Growth, Doubled Geographic Footprint
ORANGE, Calif., March 30, 2022 (GLOBE NEWSWIRE) -- Alignment Healthcare (NASDAQ: ALHC), a tech-enabled Medicare Advantage company, marked one year of being
About this update from Alignment Healthcare, Inc.
[{"type":"text","content":"ORANGE, Calif., March 30, 2022 (GLOBE NEWSWIRE) -- Alignment Healthcare (NASDAQ: ALHC), a tech-enabled Medicare Advantage company, marked one year of being publicly listed. With the popular growth of Medicare Advantage, Alignment is emerging as an innovator, continuing to scale its care delivery model with its proprietary AVA® technology, programs tailored to members’ needs and value of treating every member like family. Alignment’s first trading day was March 26, 2021. “Over the past year, we’ve continued to set ourselves apart with our proven ability to improve care while lowering costs,” said John Kao, founder and CEO, Alignment Healthcare. “We’ve grown into new markets and deliver products that are responsive and highly relevant to the changing needs of our seniors. We continued to invest in innovative platforms that scale our impact to our members while sustaining our strong business results.” The one-year milestone builds upon a successful 2021, both financially and operationally, in the public markets. Compared to 2020, Alignment’s full-year total revenue was $1.17 billion, a 21.7 percent jump year-over-year. This was led by its health plan premium revenue of $1.12 billion, an increase of 28.4 percent year-over-year. “Our business results reflect that we can do well by doing good, and we’re committed to continuing our path of sustainable growth for the long term,” Kao said. Key achievements in the past year include: Approximately doubling its geographic footprint to 38 total counties across Arizona, California, Nevada and North Carolina to reach 7 million Medicare-eligible seniors.Offering 42 health plans, its largest and most diverse portfolio to meet the growing needs of seniors nationwide, including more special needs plans for underserved seniors and those diagnosed with chronic conditions.Introducing differentiated plan options that serve the unique needs of the Asian senior community in 2021 and of the growing Hispanic senior population in 2022.As of Dec. 31, 2021, health plan membership was approximately 86,100, up 26 percent year over year.Signing partnerships with trusted and recognized providers for care in 2022, including Arizona Care Network, Cedars-Sinai, HCA Healthcare, Hoag and Scripps Health.Investing in its AVA® technology to broaden its unified data platform, which enabled the deployment of 24/7 virtual ...