40 Under Forty alumni: Todd Bailey, Class of 2005 - led Fallon Health in the interim
Todd Bailey in 2005 and 2024
Photo | Jaime Flores
Dozens of Central Massachusetts businesses have multiple 40 Under Forty alumni, including Worcester insurer Fallon Health. Pictured (from left) are Fallon's Jonida Duque (Class of 2021), Mary Craig Ritter (Class of 2000), Kris Bostek (Class of 2001), Anthony Consolmagno (Class of 2024), Melissa Randall (Class of 2024), Todd Bailey (Class of 2005), Christie Bik (Class of 2014), Sonja Brehm (Class of 2012), and Arpa Gonzalez (Class of 2020), at the Fallon Health Pavilion at the DCU Center in Worcester.
- Class of 2005
- Then Corporate controller at Fallon Community Health Plan Inc. in Worcester
- Now Senior vice president & chief financial officer for Fallon Health in Worcester
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After a three-decade career in the healthcare field, Bailey took on one of his most critical roles in January, when the board of Fallon Health made him interim president and CEO, tasking him with bridging the gap between long-time Fallon leader Richard Burke and new President and CEO Manny Lopes, who started in July.
Before all that, Bailey has been leveraging his formal education in business throughout his career to make critical decisions in support of members’ care, company workforce, and his community. In 2011, Bailey pivoted from financial leadership to overseeing Fallon’s senior care services product lines. Four years later, Bailey took a brief hiatus from Fallon and joined Health Plans, Inc. as vice president and CFO while the third-party administrator was expanding its services to a national level. His work contributed to increasing the company's operating profit margin from less than 1% of revenue to more than 3%. Re-joining Fallon in 2019, Bailey played a pivotal role in bolstering the provider’s financial positioning, acting as a lead contributor to Fallon's decision to focus predominantly on government programs. In the community, Bailey serves on the board of directors of the Worcester Business Development Corp.
What did getting the 40u40 award mean to you at the time? It was an honor to be just nominated by my colleagues, and I was especially grateful to be selected as a winner.
What does it mean to you now? Each year when the 40u40 winners are unveiled, it brings back a special memory and accomplishment in my professional career.
What advice do you have for this year's 40u40 winners? Soak in this amazing accomplishment and pay it forward to another rising colleague at your work, through mentoring and professional development support.
How has Central Massachusetts changed since you won the 40u40 award? Many new and talented professionals work in the Central Massachusetts community working on innovative projects, new business ventures, and are dedicated to attracting new business to Central Massachusetts, which is an area I have grown up and continue to reside in.
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