Alterwood Health

What Alterwood Health does

Alterwood Health, Inc. is a privately held managed care company founded in 2020 and headquartered in Lutherville Timonium, Maryland. It operates under the Alterwood Advantage brand as a Medicare Advantage organization holding both a CMS Medicare contract (plan ID H9306_22_4006_OE_WEB) and a State of Maryland Medicaid contract. The company sells eight distinct HMO and HMO-SNP plan variants to Medicare beneficiaries across Maryland — including standard plans (Select, Choice, Choice Plus, Freedom), Baltimore City-targeted variants, and two dual-eligible Special Needs Plans (Dual Secure, Dual Value) for individuals qualifying for both Medicare and Medicaid.

The company's core technology stack comprises a Medicare Advantage plan administration platform supporting member and provider self-service portals (my.alterwood360.com and my.alterwoodadvantage.com/providers), pharmacy benefit management tools, a Medication Therapy Management Program, and the Medicare Prescription Payment Plan (M3P). URAC-accredited utilization management processes underpin the operation. In May 2026, Alterwood deployed an agentic AI voice solution — developed with QurHealth and Caring One — that automates member eligibility verification calls for providers, with stated plans to extend the technology to benefits and claim status inquiries.

Alterwood generates revenue through monthly Medicare Advantage premiums sourced from CMS contracts and Maryland Medicaid contracts for dual-eligibles. The company distributes plans through three channels: direct-to-consumer online enrollment via its website and the CMS Medicare Online Enrollment Center, a licensed broker channel with a dedicated sales interface, and organic referrals from its in-network Maryland healthcare providers. As of the most recent funding round in March 2024, the company has raised approximately $35 million across disclosed equity offerings and remains in a growth-investment phase with 11-50 employees.

Name

Alterwood Health

Legal name

Alterwood Health, Inc.

Website

https://alterwoodhealth.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Alterwood Health operates Alterwood Advantage, a Maryland-only Medicare Advantage HMO and D-SNP plan provider serving Medicare beneficiaries and dual-eligibles through eight plan variants, with revenue from CMS and Maryland Medicaid contracts distributed via direct, broker, and provider channels.

Ownership category

akta.pro rank

Product category

Medicare Advantage Health Insurance

NAICS

Health and Welfare Funds (525120), Health and Welfare Funds (52512)

SIC

Accident & Health Insurance (6321), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Medicare Advantage HMOs (HMO/HMO-POS) (HLAEAMAH)

akta.pro secondary industry

Independent Practice Association (IPA) Model HMOs (HLAEAMAD)

Keywords

• Medicare Advantage plans
• Managed care services
• Dual-eligible health plans
• HMO health insurance
• Pharmacy benefit management

Headquarters

HQ city

Lutherville Timonium

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Medicare Advantage Insurance Premiums: Alterwood Health operates Alterwood Advantage, a Medicare Advantage HMO and HMO-SNP plan. Revenue is generated through Medicare premiums paid by enrolled members (Part C and Part D), with funding sourced from CMS Medicare contracts and State of Maryland Medicaid contracts.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Alterwood Health operates Alterwood Advantage, a Maryland-based Medicare Advantage organization offering HMO and HMO-SNP health plans to Medicare-eligible and dual-eligible beneficiaries. The company provides medical, pharmacy (Part D), and supplemental benefits through a localized provider network, supported by member and provider portals, pharmacy benefit management, care coordination programs, and an AI-powered eligibility verification system for providers.

Product overview

Alterwood Health operates as Alterwood Advantage, a Medicare Advantage organization offering multiple HMO plan variants through a platform-plus-modules architecture. The core portfolio includes eight distinct plan products: Alterwood Advantage Select (HMO), Select - Baltimore City (HMO), Choice (HMO), Choice - Baltimore City (HMO), Choice Plus (HMO), Freedom (HMO), Dual Secure (HMO D-SNP), and Dual Value (HMO D-SNP) — each differentiated by geographic coverage, benefit levels, and eligibility requirements (standard Medicare vs. dual-eligible populations). These plans are complemented by ancillary service modules including Pharmacy Benefit Management, Medication Therapy Management Program (MTMP), Medicare Prescription Payment Plan (M3P), and Quality Improvement Program. The organization has also deployed an Agentic AI Voice Solution, developed in partnership with QurHealth and Caring One, to automate member eligibility verification for providers.

Differentiator

Problem solved

Functional benefit

Brands

• Alterwood Advantage Select (HMO): HMO Medicare Advantage plan option
• Alterwood Advantage Choice (HMO)
• Alterwood Advantage Choice Plus (HMO)
• Alterwood Advantage Freedom (HMO)
• Alterwood Advantage Dual Secure (HMO D-SNP)
• Alterwood Advantage Dual Value (HMO D-SNP)

Products and services

• Alterwood Advantage Select (HMO)

Quantifiable outcome

• Automated eligibility verification without wait times or phone trees, returning answers in seconds

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• QurHealthcoreTechnology or Integration · 31 May 2026QurHealth, in partnership with Caring One, launched an agentic AI voice solution at Alterwood Health that automates member eligibility verification for providers calling on behalf of patients. The AI agent handles end-to-end conversations without wait times or phone trees, conducting natural, context-aware interactions that query eligibility systems and return answers in seconds. QurHealth is providing the core AI technology powering the voice solution.
• Caring OnecoreTechnology or Integration · 31 May 2026Caring One, alongside QurHealth, is a co-developer and launch partner of an agentic AI voice solution at Alterwood Health that automates member eligibility verification for providers calling on behalf of patients. Caring One contributes to the solution's deployment and integration at Alterwood Health.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Market position

Weaknesses5 records

Competitive moat4 records

Customer concentration

• LinkedInlinkedin.com/company/alterwood-health-management-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alterwood Health