Better Health Outcomes for Seniors, Improved Access to Care and Reduced Environmental Footprint Are Top Achievements Noted in Alignment Healthcare’s 3rd Annual ESG Report
July 30 2024 - 7:00AM
Alignment Healthcare, Inc. (NASDAQ: ALHC), today released its third
annual environmental, social and governance (ESG) report,
highlighting the Medicare Advantage (MA) company’s strides to
advance member care and access, reduce its environmental footprint
and support the diverse needs of its members and its employees in
2023.
“Leading with a serving heart is foundational to who we are as a
company and how we treat our members and one another,” said John
Kao, founder and CEO, Alignment Healthcare. “Because of this core
value, our members entrust us with their health and well-being as
they age. We bring that same thoughtful attention to how we operate
as a business and impact the community and world around us.”
From introducing caregiver benefits and bringing customer
service in-house for members to implementing parental and
bereavement leave policies for employees, the 2023 report
highlights how Alignment continues to responsibly serve members,
health care partners and employees by:
Delivering better health outcomes for
seniors
- Achieving a 44% reduction in emergency room visits, 38% fewer
inpatient admissions, 45% reduction in skilled nursing facility
admissions and 28% lower 30-day hospital readmission rate, when
compared to 2019 Medicare fee-for-service (FFS) rates.
- Earning 5 out of 5 Stars from the Centers for Medicaid &
Medicare (CMS) for both completed breast cancer screenings and
body/bone density scans among female members, and completed
colorectal screenings among eligible members.
Improving access to care
- Expanding access to more than 30,000 affordable medications —
roughly 20,000 more than the year prior — via comprehensive
prescription coverage. In 2023, 91% of pharmacy claims cost members
$10 or less.
- Making nutritious foods and necessary medication more
accessible to the doorsteps of more members in California and
Nevada through an industry-first agreement with Instacart, helping
address food insecurity and lack of reliable transportation. These
were two of the top barriers to senior health and well-being,
according to Alignment’s 2023 Social Threats to Aging Well in
America report.
- Enabling more high-risk members to
be seen by redesigning its signature Care Anywhere program for
members with chronic illnesses, including late-stage diabetes and
kidney disease. More than 70% of eligible members participated in
the program in 2023, up from 61% in 2022, helping control the
medical expenses of its highest-cost chronically ill members.
Operating sustainably and responsibly
- Completing its first-ever greenhouse gas (GHG) emissions
inventory and reducing Scope 1 and 2 emissions by 17% from 2022 to
2023, equivalent to removing more than 600,000 miles driven by an
average gasoline-powered passenger vehicle, according to the
Environmental Protection Agency.
- Generating 50% year-over-year reduction in shipping-related
emissions by transitioning to zero-touch shipments when delivering
new workstations to employees, removing interim shipments to
company headquarters.
- Incorporating clinician input to Alignment’s proprietary
technology platform AVA® to improve care delivery. The platform
added more than 10,000 new, external users in 2023 and reduced
approximately 45 minutes of administrative processing time per
member.
Meeting the diverse needs of more members and
employees
- Hiring and training more than 200 bilingual concierge care
navigators, which not only reduced average call time by 50% in 2023
but also provided personalized and culturally nuanced care and
support.
- Enhancing its culturally tailored plans, Harmony HMO and the
ONE (el ÚNICO) to include more language-preferred materials,
providers and service agents; traditional wellness services, and
local grocery store options.
- Considering diversity, equity and inclusion factors when
partnering with vendors like HCP National, one of the largest
minority-woman-owned commercial insurance brokerages in the
U.S.
- Introducing more people-focused
policies to its package of employee benefits such as paid parental
and bereavement leave and university tuition reimbursements.
To learn more about Alignment’s impact and its ongoing ESG
efforts, visit https://www.alignmenthealth.com/ESG.
About Alignment HealthcareAlignment Health is
championing a new path in senior care that empowers members to age
well and live their most vibrant lives. A consumer brand name of
Alignment Healthcare (NASDAQ: ALHC), Alignment Health offers more
than 50 benefits-rich, value-driven Medicare Advantage plans that
serve 53 counties across six states. The company partners with
nationally recognized and trusted local providers to deliver
coordinated care, powered by its customized care model, 24/7
concierge care team and purpose-built technology, AVA®. Based in
California, the company’s mission-focused team makes high-quality,
low-cost care a reality for members every day. As it expands its
offerings and grows its national footprint, Alignment upholds its
core values of leading with a serving heart and putting the senior
first. For more information, visit alignmenthealth.com.
Forward Looking StatementsThis 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. Actual results may
differ materially from the results predicted, and reported results
should not be considered as an indication of future performance.
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, including the need for certain governmental approvals; our
ability to maintain a high rating for our plans on the Five Star
Quality Rating System; our ability to develop and maintain
satisfactory relationships with care providers that service our
members; risks associated with being a government contractor;
changes in laws and regulations applicable to our business model;
risks related to our indebtedness, including the potential for
rising interest rates; changes in market or industry conditions and
receptivity to our technology and services; results of litigation
or a security incident; and the impact of shortages of qualified
personnel and related increases in our labor costs. For a detailed
discussion of the risk factors that could affect our actual
results, please refer to the risk factors identified in our Annual
Report on Form 10-K for the year ended December 31, 2023, and the
other periodic reports we file with the SEC. All information
provided in this release is as of the date hereof, and we undertake
no duty to update or revise this information unless required by
law.
Investor ContactHarrison
Zhuohzhuo@ahcusa.com
Media ContactPriya ShahmPR, Inc. for Alignment
Healthalignment@mpublicrelations.com
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