Fallon Health reports second quarter profit and continued membership growth

Worcester, Mass., August 15, 2018 ― Fallon Health today reported that membership continued to grow during the second quarter that ended June 30, 2018. Membership hit a new high of 277,567, up more than 50,000 members over the same period last year.

Fallon also reported net income of $2.8 million on revenue of $422 million for the quarter. Net income included investment and other income of $1.2 million and an operating income of $1.6 million. For the same quarter last year, Fallon posted a break-even position on revenue of $331 million. Net income included investment and other income of $2.9 million and operating loss of $2.9 million in 2017.

“Our solid financial results reflect record-high membership in several product lines, including our participation in the state’s new Accountable Care Organization (ACO) program,” said Kevin Grozio, Chief Financial Officer at Fallon Health. “At the same time, we continued to invest in technology that drives data analysis and enhances provider collaboration, allowing us to strengthen quality and value for members while efficiently overseeing administrative and medical costs.”

Carrie Wattu

About Fallon Health

Founded in 1977, Fallon Health is a leading health care services organization that supports the diverse and changing needs of those we serve. In addition to offering innovative health insurance solutions and a variety of Medicaid and Medicare products, we excel in creating unique health care programs and services that provide coordinated, integrated care for seniors and individuals with complex health needs. Fallon has consistently rated among the nation’s top health plans by the National Committee for Quality Assurance for its HMO , Medicare Advantage and Medicaid products.