November 17, 2014
Fallon revenue, membership up
By Rick Saia
Fallon Health of Worcester said it earned $1.9 million in the third quarter of this year on revenue of $323 million.
While the revenue marked a 2.2-percent gain over the third quarter of 2013, the net income represented a drop of nearly 65 percent. But Fallon spent $3.4 million during the quarter for hepatitis C treatment and paid a $2.3 million fee tied to the federal Affordable Care Act, the health services organization said in a statement.
The latest results were in line with expectations, said R. Scott Walker, Fallon’s executive vice president and CFO.
Fallon’s membership grew year over year, it said, with a jump of about 1.7 percent to 231,541 members as of Sept. 30.
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