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The Power 50: Richard P. Burke

7/9/2018

RICHARD P. BURKE

President & CEO

Fallon Health, Worcester

Residence: Worcester

Colleges: Assumption College, Boston College, Cornell University

As CEO of one of the major Massachusetts nonprofit health insurers – and the only one headquartered in Worcester – Burke is in charge of the care for 276,893 members, representing nearly 10 percent of the total statewide market. His role is provide strategic direction to sustain and grow an organization in the financially strained healthcare industry. After posting a $20-million loss in 2016, Burke brought the insurer into the black for 2017, netting $8 million. Under his direction, Fallon has played an important role in the formation of accountable care organizations in Central Massachusetts, teaming with the likes of Reliant Medical Group to form ACOs, which is seen as a solution for increasing healthcare costs by reimbursing providers for keeping populations healthy, rather than focusing on sick care. Burke serves on the boards of Assumption College and the Worcester Business Development Corp.

What advice would you give up-and-comers? Focus, work hard, be patient.

Outdoorsman: I love spending time outdoors, particularly hiking and fishing. I especially enjoy when I can get in a fishing trip to the Florida Keys.
Read about the WBJ’s 2018 Power Players:
Retail
Harry Kokkinis, Table Talk Pies
Steve Rotman, Rotman’s Furniture & Vystar
Ernie Herrman, TJX Cos.
Michael Dundas, Sira Naturals
Ralph Crowley Jr., Polar Corp.
Christopher Baldwin, BJ’s Wholesale Club
Amy Lynn Chase, Crompton Collective & Haberdash
Food & Culture
Robb & Madeline Ahlquist, Worcester Restaurant Group
Troy Siebels, The Hanover Theatre
Karim El-Gamal, Rail Trail Flatbread Co., New City Microcreamery, Less Than Greater Than
Eric, Sam & Jack Hendler, Jack’s Abby Brewing
Lynn Cheney, Lettuce Be Local
Sandy Dunn, DCU Center
Higher Education & Nonprofits
Ann T. Lisi, Greater Worcester Community Foundation
Rev. Philip L. Boroughs, College of the Holy Cross
Javier Cevallos, Framingham State University
Michael F. Collins, University of Massachusetts Medical School
Jill Dagilis, Worcester Community Action Council
Dr. David A. Jordan, Seven Hills Foundation
Laurie Leshin, Worcester Polytechnic Institute
Corner Office
Kate Sharry, Group Benefits Strategies
Tina M. Sbrega, GFA Federal Credit Union
John C. Roche, The Hanover Insurance Group
Elaine Osgood, Atlas Travel
Michael P. Angelini, Bowdtich & Dewey
Susan Mailman, Coghlin Electrical Contractors
Edward F. Manzi Jr., Fidelity Bank
Manufacturing
Dinesh Wadhwani, ThinkLite
Ravi Vig, Allegro Microsystems
Nobuhiko Tamura, Sunovion Pharmaceuticals
Daniel McGahn, AMSC
Michael Mahoney, Boston Scientific
Jeannie Hebert, Blackstone Valley Chamber of Commerce
Valentin Gapontsev, IPG Photonics
Chris Coghlin, Coghlin Cos.
Health care
Kevin O’Sullivan, Massachusetts Biomedical Initiatives
Kurt Isaacson, Spectrum Health Systems
Tarek Elsawy, Reliant Medical Group
Jeffrey M. Welch, Saint Vincent Hospital
Eric Dickson, UMass Memorial Health Care
Holly Chaffee, VNA Care
Richard P. Burke, Fallon Health
Economic Development
Ann K. Tripp, Opus Investment Management
Robert Walker, RA Ventures
Yvonne Spicer, City of Framingham
Cliff Rucker, Worcester Railers Hockey Club
Sherri Greene Pitcher, Fidelity Bank
Timothy P. Murray, Worcester Regional Chamber of Commerce
Anthony Consigli, Consigli Construction Co.
Jennie Lee Colosi, E. T. & L. Corp.