Fallon Health reports first quarter financial results

Worcester, Mass., May 15, 2017 —  Fallon Health today reported a net loss of $444,000 on revenue of $319 million on a GAAP basis for the first quarter that ended March 31, 2017. Net loss includes investment and other income of $3.2 million and an operating loss of $3.6 million. The numbers represent an improvement over the same quarter last year when Fallon posted a net loss of $5.6 million on revenue of $298 million. The net loss included investment income of $0.8 million and an operating loss of $6.4 million. Membership was 222,920 as of March 31, 2017, up from 212,535 as of March 31, 2016.

“Our results are consistent with expectations and reflect our continued effort to reposition Fallon’s business during this time of uncertainty and change with the Affordable Care Act,” said Richard Burke, President and CEO of Fallon Health. “At the same time, we continue to expand membership strategically in key business lines, including Medicaid, our Senior Care Options Special Needs Plan known as NaviCare and our Program of All-Inclusive Care for the Elderly (PACE)—Summit ElderCare.”

• Carrie Wattu
  508-368-9345

  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 ranked among the nation’s top health plans, and is accredited by the National Committee for Quality Assurance for its HMO, Medicare Advantage and Medicaid products. For more information, visit www.fallonhealth.org.