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February 06, 2016 11:40 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.

Interim Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Age: 44
Chief Operating Officer and Senior Vice President
Chief Information Officer and Senior Vice President
Chief Communications Officer and Senior Vice President
Compensation as of Fiscal Year 2015.

Fallon Community Health Plan, Inc. Key Developments

Fallon Health Reports Earnings Results for the Third Quarter Ended September 30, 2015

Fallon Health reported earnings results for the third quarter ended September 30, 2015. For the period, the company reported net loss of $5.1 million on revenue of $311 million. Net income includes investment and other income of $2.0 million and an operating loss of $7.1 million. For the same quarter last year, the company posted net income of $1.9 million on revenue of $323 million. Net income included investment and other income of $5.8 million and an operating loss of $3.9 million.

Fallon Health Announces Changes to the Management Team; Plans to Layoff by the End of September 2015

Fallon Health's CEO, Patrick Hughes, announced that he will retire, not long after the company disclosed that it would be laying off up to 45 employees. Hughes, who is also president of the organization, will leave the position come Nov. 1, 2015, the health plan's board announced on September 8, 2015. Richard Burke, the president of senior care services and government programs, has been named interim CEO. The layoffs will take place at Fallon's headquarters in Worcester as the company prepares to close its One Care program by the end of September 2015.

Fallon Health Announces Earnings Results for the Second Quarter Ended June 30, 2015

Fallon Health announced earnings results for the second quarter ended June 30, 2015. The company reported a net loss of $2.5 million on revenue of $321 million on a GAAP basis for the second quarter that ended June 30, 2015. The net loss includes investment and other income of $2.5 million and an operating loss of $5.0 million. For the same quarter last year, the company posted net income of $2.3 million on revenue of $312 million. Net income included investment and other income of $3.2 million and an operating loss of $0.9 million.

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