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
ORANGE, Calif., July 30, 2024 (GLOBE NEWSWIRE) -- 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 Healthcare
Alignment 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 Statements
This 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 Contact
Harrison Zhuo
[email protected]
Media Contact
Priya Shah
mPR, Inc. for Alignment Health
[email protected]
