Forbes November 3, 2022
Alignment Healthcare reported a $40.2 million loss in its third quarter as the startup provider of Medicare Advantage coverage spends money to expand coverage into new markets and further grow enrollment.
Alignment, which is selling its privatized Medicare Advantage plans into new markets for 2023, on Thursday reported a loss of $40.2 million, or 22 cents a share, compared to $45.8 million, or 26 cents a share in the year-ago period. Meanwhile, total revenue up nearly 23% to $360.3 million compared to $293.5 million in the year-ago quarter as health plan enrollment continues to rise. Health plan membership at the end of the quarter was up 14% to 98,000 compared to the year-ago period.
“Alignment Healthcare’s solid performance in the...
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