CorVel Corporation

CorVel Corporation provides workers' compensation, general and auto liability, and hospital bill auditing and payment integrity solutions. The company applies advanced technologies such as artificial intelligence, machine learning, and natural language processing to enhance the management of episodes of care and related healthcare costs. Its portfolio includes network solutions like automated medical fee auditing, preferred provider management, retrospective utilization review, facility claim and professional review, pharmacy services, directed care, clearinghouse services, independent medical examinations, and inpatient medical bill review. Additionally, CorVel offers Medicare solutions and patient management services such as claims management, case management, 24/7 nurse triage, utilization management, vocational rehabilitation, and life care planning. The company serves employers, third-party administrators, insurance companies, and government agencies.

CorVel Corporation is listed on the Nasdaq Global Select Market (NasdaqGS) under the ticker symbol CRVL. The company's stock trades in US Dollars (USD), which is the official currency of the United States. As a US-based company, its financial reporting and stock transactions are conducted in USD.

CorVel Corporation operates in the Financial Services sector and is specifically classified under the Insurance Brokers industry. This means the company acts as an intermediary or service provider within the insurance ecosystem, focusing on managing medical costs and claims for workers' compensation, auto liability, and general liability. Unlike a traditional insurance carrier, CorVel provides technology-enabled solutions to help insurers, employers, and government agencies control healthcare expenses and improve care quality.

CorVel Corporation is headquartered in Fort Worth, Texas, United States. The company was incorporated in 1987 and primarily serves the US market. Its clients include employers, third-party administrators, insurance companies, and government agencies. CorVel's solutions are designed to assist these entities in managing medical costs and monitoring the quality of care associated with healthcare claims, particularly in the areas of workers' compensation, auto liability, and general liability.

CorVel Corporation generates revenue by providing a comprehensive suite of services that help clients manage healthcare costs and claims. The company's business model revolves around offering technology-driven solutions, including automated medical fee auditing, preferred provider network management, and patient management services such as case management and 24/7 nurse triage. CorVel also provides Medicare solutions and processes claims for self-insured payors in property and casualty insurance. By leveraging artificial intelligence, machine learning, and natural language processing, CorVel enhances efficiency and accuracy in managing episodes of care. Its clients—employers, third-party administrators, insurers, and government agencies—pay for these services to reduce medical expenses and improve outcomes.