August 15, 2007
Rising costs gouge FCHP
By Matthew L. Brown
Despite increased revenue and more members compared to last year, Worcester's Fallon Community Health Plan reported a $1.2 million net loss for the second quarter.
According to FCHP, the loss comes on operating income of $2 million, an operating loss of $3.2 million and revenue of $230 million for the quarter. At the end of the quarter, FCHP reported 189,655 members.
For the second quarter of 2006, FCHP reported net income of $2.9 million on revenue of $211 million, and 171,400 members.
FCHP said the loss comes as it enacts cost control measures to battle rising hospitalization and drug costs.
According to FCHP, the loss comes on operating income of $2 million, an operating loss of $3.2 million and revenue of $230 million for the quarter. At the end of the quarter, FCHP reported 189,655 members.
For the second quarter of 2006, FCHP reported net income of $2.9 million on revenue of $211 million, and 171,400 members.
FCHP said the loss comes as it enacts cost control measures to battle rising hospitalization and drug costs.
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