Medicare Advantage provider Alignment Healthcare reported a $56.9 million loss in its first quarter as a publicly traded company, compared to a loss of $10 million during the same period last year, according to Forbes.
Membership enrollment in the company, which operates in California, North Carolina and Nevada, increased 32 percent from last year, according to the May 17 report. Total company revenue was $267.1 million, a 19 percent increase from last year.
Alignment CEO John Kao told Forbes on May 17 that its first-quarter results were ahead of expectations.