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May 04, 2015 9:22 PM ET

Healthcare Providers and Services

Company Overview of Fallon Community Health Plan, Inc.

Company Overview

Fallon Community Health Plan, Inc., a health plan provider network, offers health insurance plans and healthcare services in Massachusetts. The company’s insurance and self-insurance product portfolio includes various group and non-group health plan options, such as HMO, POS, and PPO, as well as Medicaid and Medicare advantage plans that feature flexible benefit designs. It also provides plans through the Commonwealth Choice and Commonwealth Care programs; and offers NaviCare HMO, a senior care options product for people aged 65 and over who are enrolled in MassHealth Standard. In addition, the company’s provider networks offer coordinated care and give its members access to physicians and h...

10 Chestnut Street

Worcester, MA 01608

United States

Founded in 1977

Phone:

508-799-2100

Fax:

508-797-9621

Key Executives for Fallon Community Health Plan, Inc.

Chief Executive Officer, President and Division President of Health Plan Operations
Chief Financial Officer and Executive Vice President
Age: 43
Chief Operating Officer and Senior Vice President
President of Senior Care Services & Government Programs and Chief Compliance Officer
Chief Information Officer and Senior Vice President
Compensation as of Fiscal Year 2014.

Fallon Community Health Plan, Inc. Key Developments

Fallon Health Announces Earnings Results for the Fourth Quarter and Fiscal Year Ended December 31, 2014

Fallon Health announced earnings results for the fourth quarter and fiscal year ended December 31, 2014. For the fourth quarter of 2014, the company reported net income of $0.9 million on revenue of $329.5 million, compared with net income of $0.7 million on revenue of $318 million for the same quarter in 2013. Fourth quarter 2014 net income included investment and other income of $4.6 million and an operating loss of $3.7 million. For the year, the company reported net income of $3.5 million on revenue of $1.3 billion for the fiscal year that ended December 31, 2014. These results compare with net income of $13.2 million on revenue of $1.3 billion in 2013. Net income for 2014 included investment and other income of $15 million and an operating loss of $11.5 million. Membership was 225,832 as of December 31, 2014, compared with 228,809 ending December 31, 2013.

Fallon Community Health Plan, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2014

Fallon Community Health Plan, Inc. reported earnings results for the third quarter ended September 30, 2014. For the quarter, the company reported net income of $1.9 million on revenue of $323 million for the third quarter that ended September 30, 2014. Net income includes investment and other income of $5.8 million and an operating loss of $3.9 million. For the same quarter last year, the company posted net income of $5.4 million on revenue of $316 million. Net income included investment and other income of $3.8 million and operating income of $1.6 million. Membership was 231,541 as of September 30, 2014, compared with 227,624 ending September 30, 2013.

Fallon Health Announces Earnings Results for the First Quarter That Ended March 31, 2014

Fallon Health announced earnings results for the first quarter that ended March 31, 2014. For the quarter, the company reported net loss of $1.5 million on revenue of $295 million on a GAAP basis. Net loss includes investment and other income of $1.5 million and operating loss of 3.0 million. For the same quarter last year, Fallon posted a net loss of $0.2 million on revenue of $307 million. The net loss included investment income of $2.6 million and an operating loss of $2.8 million.

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