Welcome to our dedicated page for Corvel news (Ticker: CRVL), a resource for investors and traders seeking the latest updates and insights on Corvel stock.
CorVel Corporation provides technology-enabled risk management solutions for workers’ compensation and health, auto, and liability programs. The company partners with employers, third-party administrators, insurance companies, and government agencies, combining claims management, bill review, preferred provider networks, utilization management, case management, pharmacy, directed care, and Medicare services.
CorVel news commonly covers earnings releases, financial-performance webcasts, product innovation, and the use of artificial intelligence, machine learning, and natural language processing in claims and care-management workflows. Recent company updates also include the CareMC claims management platform, the CorVel Connected AI-powered claims intelligence layer, workplace recognition, and leadership or product-portfolio developments tied to insurance and risk management services.
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CorVel Corporation (NASDAQ: CRVL) announced Lori Landon as Vice President of Network Solutions, bringing over 20 years of experience in the workers' compensation sector. Landon will oversee various products, streamline workflows, and lead competitive market analysis to enhance service capabilities. The company attributes its recent growth to an agile technical foundation that has successfully adapted to increased telehealth demand. This strategic addition aims to strengthen CorVel's innovative offerings and fulfill its commitment to improving customer outcomes.
CorVel Corporation will release its quarterly earnings results on February 2, 2021, during a webcast at 11:30 am EST. The webcast will be led by CEO Michael Combs and CFO Brandon O’Brien. The company provides advanced workers’ compensation solutions to various sectors, emphasizing technology and proactive risk management. CorVel is publicly traded on NASDAQ under the symbol CRVL.
The press release also includes a forward-looking statement, highlighting various risks that may affect future performances.
CorVel and ReedGroup have partnered to enhance absence management through a new integrated program, combining workers' compensation and other leave types.
This initiative aims to streamline processes for employees facing absences due to illness or injury, offering a centralized intake process available 24/7. The program is designed to reduce costs for employers while ensuring regulatory compliance and prompt employee return to work.
Key benefits include seamless employee experience and integrated analytics reporting.
CorVel Corporation has partnered with 1health to provide self-administered COVID-19 testing kits for employees, enhancing its telehealth platform. The home tests, featuring nearly 100% accuracy, allow employees to safely collect samples and receive lab-certified results within 36 hours, promoting workplace safety. As COVID-19 cases rise, this initiative helps employers manage employee health efficiently, facilitating quicker returns to work. CorVel's telehealth program currently handles up to 300 COVID-related inquiries daily, ensuring timely response and care for employees.
CorVel Corporation (NASDAQ: CRVL) reported Q2 earnings of 65 cents per share with revenues of $136 million, and year-to-date revenues of $266 million. Despite ongoing global economic uncertainty, the company exhibited strong fundamentals with robust new business sales. The pandemic has accelerated technology adoption, enhancing CorVel's digital strategy and leading to a significant rise in telehealth usage. Strategic partnerships in the healthcare sector are expected to improve payment operations and reduce costs.
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CorVel Corporation (NASDAQ: CRVL) was awarded the Third Party Association Team of the Year at the Business Insurance U.S. Insurance Awards on September 10 for exceptional achievements with the State of Tennessee. The recognition highlights CorVel's innovative claims management services, which have improved efficiency and reduced costs. Key efforts include a statewide return-to-work program, pharmacy solutions, and 24/7 nurse triage. This partnership has significantly helped the Tennessee government manage risk among its 85,000 employees and 6.7 million residents.
CorVel Corporation (NASDAQ: CRVL) has been awarded the 2020 Innovation Award by Business Insurance for its Virtual Care Services. This program, which includes 24/7 nurse triage, assists in the care and recovery of injured workers by providing integrated solutions from initial care to return-to-work processes. CEO Michael Combs emphasized the need for innovative management of claims and patient care, particularly during the COVID-19 pandemic. The award recognizes the company’s leadership in risk management solutions, amidst an increase in nominations this year due to the pandemic's impact.
CorVel Corporation (NASDAQ: CRVL) reported Q1 2020 earnings with EPS at 46 cents and revenues of $129.6 million, reflecting a decline from the previous year due to reduced healthcare activity amid the pandemic. The cash position improved by $11 million to $94 million. Despite transaction volume increases, the company faced challenges related to elective surgeries. Investments in virtual care and technology are progressing, with enhancements to its Care Edge platform. The balance sheet shows total assets of $425 million.