Neighborhood Wins First Place Award as Region’s Fastest-Growing Large Company

-- Company has nearly doubled in membership, staff and revenue since 2013 --

Providence, RI (September 21, 2015) – Neighborhood Health Plan of Rhode Island was honored as the region’s fastest growing large company ($75 million or more in revenue) on Thursday, September 17 at a Providence Business News (PBN) hosted ceremony at the Crowne Plaza Hotel in Warwick, RI. The event was part of PBN’s annual Fastest-Growing and Innovative Companies Awards program.

Neighborhood has grown significantly as a result of the Affordable Care Act, decisions by state leaders to extend health coverage to more Rhode Islanders and Neighborhood’s expansion into the commercial market through HealthSource RI, Rhode Island’s health insurance exchange.

The company has grown from 92,000 members in November 2013 to more than 175,000 members today. Many of these members are so-called “dually eligible,” meaning they participate in both the Medicaid and Medicare programs. These members often have complex medical needs, accounting for the major portion of Neighborhood’s revenue increase from $427 million in 2012 to $894 million in 2014. Staffing has grown from 230 to 425 over that same time to serve member needs.

“I was talking with a provider recently, and she said, ‘When you're dealing with Neighborhood, it feels like they've put a warm blanket around your shoulders to make sure you get the care you need.’ That’s the kind of health plan that we strive to be and its built on our core principles of putting the member first and delivering great customer service,” said Peter Marino, Neighborhood’s President and CEO.

About Neighborhood

Neighborhood Health Plan of Rhode Island (Neighborhood) is a non-profit HMO that was founded in 1994 to make sure everyone in the state has access to high-quality, low-cost health care. Neighborhood has been ranked as one of the top Medicaid health plans in America for the past twelve years and currently serves more than 175,000 members. Neighborhood also recently extended its great service, benefits and value to individuals and businesses through HealthSource RI – the state’s health insurance exchange.