CorVel Corporation (CRVL)

Overview

CorVel Corporation specializes in offering comprehensive workers' compensation, auto, liability, and health solutions tailored for employers, third-party administrators, insurance companies, and government agencies. The company focuses on aiding these entities in effectively managing the medical costs and ensuring the quality of care related to healthcare claims. By employing advanced technology like artificial intelligence, machine learning, and natural language processing, CorVel enhances the management of care episodes and associated healthcare expenses. Founded in 1987 and headquartered in Fort Worth, Texas, CorVel aims to innovate healthcare management through its tech-driven approach.

Products and Services

Network Solutions Services: This includes automated medical fee auditing, preferred provider management, reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, Medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review. These services help streamline the payment process and ensure efficient cost management for medical services.

Patient Management Services: CorVel offers a wide array of patient management services, which encompass claims management, case management, 24/7 nurse triage, utilization management, vocational rehabilitation, and life care planning, in addition to processing claims for self-insured payors in relation to property and casualty insurance. These services are designed to assist in the holistic management of patient care from initial injury through recovery, ensuring patients receive the appropriate level of care at each stage.