Corvel Corp Stock Price, News & Analysis

CERiS Announces Leadership Change

CorVel’s CERiS has appointed Greg Dorn as President, succeeding his role as Executive Vice President. Dorn, with the company since 1996, emphasizes growth and service expansion. The company is investing in systems and hiring expertise to enhance its payment integrity solutions. Michael Combs, CEO of CorVel, commended Dorn as a strong leader. CERiS focuses on healthcare payment accuracy through its proprietary universal chargemaster, which includes extensive hospital charge data. The press release also contains forward-looking statements about its business strategies.

CorVel Corporation (NASDAQ: CRVL) has been awarded the 2022 Innovation of the Year by Business Insurance for its CogencyIQ service, which revolutionizes workers' compensation and liability claims management through advanced analytics and artificial intelligence. This marks the third consecutive year of recognition for CorVel's commitment to innovative risk management solutions. CogencyIQ provides customizable insights and detailed reporting to enhance decision-making for risk managers. The award ceremony will be held on September 14, 2022, in New York City.

CorVel Corporation recently published a report analyzing the impact of COVID-19 on workers' compensation claims in 2021. The analysis shows a 6% overall increase in claims compared to 2020, with a notable 38% decrease in COVID-related claims and a 14% increase in non-COVID claims. The data spans from April 1 to December 31, 2021, highlighting trends as industries began to return to normal. CorVel aims to help clients navigate these changes with insights gleaned from their CogencyIQ team.

CorVel Corporation (NASDAQ: CRVL) reported quarterly results for June 30, 2022, showing a rise in revenues to $176 million from $153 million in the same period last year. Earnings per share increased to $0.94 from $0.92. The company emphasized continued growth driven by CERiS in payment integrity, while investing in automation for enhanced team efficiency. Despite the economic climate, CorVel's approach has maintained a high return on equity. Key financial metrics indicate resilience and operational effectiveness amidst ongoing challenges.

CorVel Corporation will host a Quarterly Earnings Release Webcast on August 3, 2021, at 11:30 am EST. The event will feature insights from CEO Michael Combs and CFO Brandon O’Brien. CorVel utilizes AI, machine learning, and natural language processing to manage healthcare costs for various stakeholders, including employers and insurance companies. The company emphasizes the importance of understanding risks and uncertainties that may affect future financial performance, highlighting the variability in stock performance compared to past results.

CorVel Corporation (NASDAQ: CRVL) reported strong financial results for the quarter and fiscal year ended March 31, 2022. Earnings per share for Q4 reached $1.09, up from 81 cents year-over-year, while revenues increased to $171 million from $146 million. For the fiscal year, EPS rose to $3.66, a significant increase compared to $2.55 the previous year, with annual revenues climbing to $646 million from $553 million. The growth was driven by new bookings in the CERiS operation and productivity improvements through automation.

CorVel Corporation will host a Fiscal Year Earnings Release Webcast on May 26, 2022, at 11:30 am EST, featuring CEO Michael Combs and CFO Brandon O’Brien. The company focuses on technology-driven solutions for managing healthcare costs and episodes of care, partnering with various entities like employers and insurance companies. Forward-looking statements indicate potential risks regarding future performance, suggesting that past financial results may not predict future outcomes. For further information visit corvel.com.

CorVel Corporation (NASDAQ: CRVL) has introduced a new Claims Risk Score interface in its CareMC Edge® platform, enhancing claims management through artificial intelligence and predictive analytics. This feature evaluates multiple factors to determine the risk level of claims, helping professionals intervene early and effectively. Key aspects analyzed include return to work estimates, pain levels, and claimant medical compliance. The Risk Score recalibrates continuously with new information, aiming to improve claim outcomes and reduce costs.