I've written about health care for three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy.
increase compared to the year-ago period. That boosted total revenue 43 percent to $628.6 million though the company still posted a loss and yet to turn a profit. Alignment Healthcare Thursday reported a net loss in its first quarter of $46.5 million as the provider of Medicare Advantage coverage to seniors experienced a 50% increase in health plan members.
And like its larger rivals in the Medicare Advantage business and more seniors in its plans, Alignment’s medical expenses were way up at $573.2 million compared to $396.3 million in the year-ago period. But unlike some of its larger rivals, Alignment chief executive and founder John Kao said the company has “met or exceeded expectations across membership, revenue, adjusted gross profit and adjusted EBITDA, setting a solid foundation for achieving our full-year outlook.
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