Fallon Community Health Plan reports second quarter financial results

Worcester, Mass., August 15, 2011 ― Fallon Community Health Plan (FCHP) today reported net income of $13.6 million on revenue of $289 million for the second quarter that ended June 30, 2011. Net income includes investment income of $5.2 million and operating income of $8.4 million. For the same quarter last year, FCHP posted a net loss of $12.8 million on revenue of $283.8 million. The net loss included investment income of $2.4 million and an operating loss of $15.2 million. Membership was 207,791 as of June 30, 2011, compared with 218,226 ending June 30, 2010.

“Our results are consistent with our expectations and reflect the efforts of our organization to remain focused on our business goals and disciplined at achieving greater cost-efficiencies, even in such a dynamic health care environment,” said R. Scott Walker, FCHP Executive Vice President and Chief Financial Officer. “As a stable, reliable source of high-quality, cost-effective solutions, FCHP remains committed to improving the health care system and committed to our mission of making our communities healthy.”

Christine Cassidy
christine.cassidy@fchp.org

About Fallon Community Health Plan
Founded in 1977, Fallon Community Health Plan is a nationally recognized, not-for-profit health care services organization. From traditional health insurance products available throughout Massachusetts for all populations, to innovative health care programs and services for independent seniors, FCHP supports the diverse and changing needs of all those it serves. FCHP has consistently ranked among the nation’s top health plans, and is the only health plan in Massachusetts to have been awarded “Excellent” Accreditation by the National Committee for Quality Assurance for its HMO, Medicare Advantage and Medicaid products.