November 15, 2007
FCHP Revenue Grows, Income Spent On Projects
By Matthew L. Brown
Third quarter net income at Worcester's Fallon Community Health Plan fell to $2.8 million from $4.8 million last year.
However, the most recent quarter's results are a reversal of the second quarter, when FCHP reported a $1.2 million loss.
The company, a membership-based insurer and health care provider, reported $227.5 million in third quarter revenue compared to $217.2 million in the third quarter of 2006. The company also reported an increase in membership of 2,000 during the quarter.
The company said the income dip was "not a significant change for us," and said it was the result of an ongoing infrastructure improvement project.
However, the most recent quarter's results are a reversal of the second quarter, when FCHP reported a $1.2 million loss.
The company, a membership-based insurer and health care provider, reported $227.5 million in third quarter revenue compared to $217.2 million in the third quarter of 2006. The company also reported an increase in membership of 2,000 during the quarter.
The company said the income dip was "not a significant change for us," and said it was the result of an ongoing infrastructure improvement project.
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