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Corvel Corporation  (CRVL)
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    Sector  Financial    Industry Insurance Brokerage
   Industry Insurance Brokerage
   Sector  Financial
 

Corvel's Suppliers Performance

CRVL's Supply Chain

 
CRVL Costs vs Sales of Suppliers Growth Corvel's Suppliers recorded an increase in sales by 3.58 % year on year in Q3 2023, from the previous quarter, sales fell by -1.44 %, Corvel recorded an increase in cost of sales by 6.84 % year on year, sequentially cost of sales grew by 2.03 % in Q3.

More on CRVL Suppliers




Corvel's Suppliers recorded an increase in sales by 3.58 % year on year in Q3 2023, from the previous quarter, sales fell by -1.44 %, Corvel recorded increase in cost of sales by 6.84 % year on year, sequentially cost of sales grew by 2.03 % in Q3.

More on CRVL Suppliers



  News about Corvel Corporation Contracts



Corvel's Comment on Supply Chain


Infrastructure and Data Center
The Company utilizes a Tier III-rated data center as its primary processing site. Redundancy is provided at many levels in power, cooling, and computing resources, with the goal of ensuring maximum uptime and system availability for the Company’s production systems. The Company has fully embraced server virtualization and consolidation techniques to push the fault-tolerance of systems even further. These technologies bring increased availability, speed-to-production and scalability.

Adoption of Imaging Technologies and Paperless Workflow
Utilizing scanning and automated data capture processes allows the Company to process incoming paper and electronic claims documents, including medical bills, with less manual handling and which has improved the Company’s workflow processes. This has benefited both the Company, in terms of cost-savings, and the Company’s customers, in improved savings results. Through the Company’s internet portal, www.caremc.com, customers can review the bills as soon as they are processed and approve a bill for payment, streamlining the customer’s own workflows and expediting the payment process.

Redundancy Center
The Company’s national data center is located near Portland, Oregon. The Company has migrated its redundancy center from Fort Worth, Texas to Las Vegas, Nevada. The redundancy center is the Company’s backup processing site in the event that the Portland data center suffers catastrophic loss. Currently, the Company’s data is continually replicated to Las Vegas in near-real time, so that in the event the Portland data center is offline, the redundancy center can be activated with current information quickly. The Las Vegas data center also hosts duplicates of the Company’s websites. The Las Vegas systems are maintained and exercised on a continuous basis as they host demonstration and pilot environments that mirror production, with the goal of ensuring their ongoing readiness.

CareMCSM
CareMC (www.caremc.com) has become the application platform for all of the Company’s primary service lines and delivers immediate access to customers. CareMC offers customers direct access to the Company’s primary services. CareMC allows for electronic communication and reporting between providers, payers, employers and patients. Features of the website include: report an incident/injury, request for service, appointment scheduling, online bill review, claims information management, treatment calendar, medical bill adjudication and automated provider reimbursement.
Through the CareMC Website, users can:

• Request services online;

• Manage files throughout the life of the claim;

• Receive and relay case notes from case managers; and

• Integrate information from multiple claims management sources into one database.

The CareMC website facilitates healthcare transaction processing. Using artificial intelligence techniques, the website provides situation alerts and event triggers, to facilitate prompt and effective decisions. Users of CareMC can quickly see where event outliers are occurring within the claims management process. If costs exceed pre-determined thresholds or activities fall outside expected timelines, decision-makers can be quickly notified. Large amounts of information are consolidated and summarized to help customers focus on the critical issues.

Scanning Services
We continue to leverage our scanning technologies which include scanning, optical character recognition and document management services. We continue to expand our existing office automation service line and all offices are selling scanning and document management. We have added scanning operations to most of the Company’s larger offices around the country, designating them “Capture Centers.” Our scanning service also offers a web interface (www.onlinedocumentcenter.com) providing immediate access to documents and data called the Online Document Center (ODC). Secure document review, approval, transaction workflow and archival storage are available at subscription-based pricing.

Claims Processing
We continue to develop our claims system capabilities which fit well with the Company’s preference for owning and maintaining our own software assets. Integration projects, some already completed, are underway to present more of this claims-centric information available through the CareMC web portal. The Company’s goal is to continue to modernize user interfaces, and to streamline the delivery of this information to our customers, giving more rapid feedback and putting real-time information in the hands of our customers.


Corvel's Comment on Supply Chain


Infrastructure and Data Center
The Company utilizes a Tier III-rated data center as its primary processing site. Redundancy is provided at many levels in power, cooling, and computing resources, with the goal of ensuring maximum uptime and system availability for the Company’s production systems. The Company has fully embraced server virtualization and consolidation techniques to push the fault-tolerance of systems even further. These technologies bring increased availability, speed-to-production and scalability.

Adoption of Imaging Technologies and Paperless Workflow
Utilizing scanning and automated data capture processes allows the Company to process incoming paper and electronic claims documents, including medical bills, with less manual handling and which has improved the Company’s workflow processes. This has benefited both the Company, in terms of cost-savings, and the Company’s customers, in improved savings results. Through the Company’s internet portal, www.caremc.com, customers can review the bills as soon as they are processed and approve a bill for payment, streamlining the customer’s own workflows and expediting the payment process.

Redundancy Center
The Company’s national data center is located near Portland, Oregon. The Company has migrated its redundancy center from Fort Worth, Texas to Las Vegas, Nevada. The redundancy center is the Company’s backup processing site in the event that the Portland data center suffers catastrophic loss. Currently, the Company’s data is continually replicated to Las Vegas in near-real time, so that in the event the Portland data center is offline, the redundancy center can be activated with current information quickly. The Las Vegas data center also hosts duplicates of the Company’s websites. The Las Vegas systems are maintained and exercised on a continuous basis as they host demonstration and pilot environments that mirror production, with the goal of ensuring their ongoing readiness.

CareMCSM
CareMC (www.caremc.com) has become the application platform for all of the Company’s primary service lines and delivers immediate access to customers. CareMC offers customers direct access to the Company’s primary services. CareMC allows for electronic communication and reporting between providers, payers, employers and patients. Features of the website include: report an incident/injury, request for service, appointment scheduling, online bill review, claims information management, treatment calendar, medical bill adjudication and automated provider reimbursement.
Through the CareMC Website, users can:

• Request services online;

• Manage files throughout the life of the claim;

• Receive and relay case notes from case managers; and

• Integrate information from multiple claims management sources into one database.

The CareMC website facilitates healthcare transaction processing. Using artificial intelligence techniques, the website provides situation alerts and event triggers, to facilitate prompt and effective decisions. Users of CareMC can quickly see where event outliers are occurring within the claims management process. If costs exceed pre-determined thresholds or activities fall outside expected timelines, decision-makers can be quickly notified. Large amounts of information are consolidated and summarized to help customers focus on the critical issues.

Scanning Services
We continue to leverage our scanning technologies which include scanning, optical character recognition and document management services. We continue to expand our existing office automation service line and all offices are selling scanning and document management. We have added scanning operations to most of the Company’s larger offices around the country, designating them “Capture Centers.” Our scanning service also offers a web interface (www.onlinedocumentcenter.com) providing immediate access to documents and data called the Online Document Center (ODC). Secure document review, approval, transaction workflow and archival storage are available at subscription-based pricing.

Claims Processing
We continue to develop our claims system capabilities which fit well with the Company’s preference for owning and maintaining our own software assets. Integration projects, some already completed, are underway to present more of this claims-centric information available through the CareMC web portal. The Company’s goal is to continue to modernize user interfaces, and to streamline the delivery of this information to our customers, giving more rapid feedback and putting real-time information in the hands of our customers.



CRVL's Suppliers Net profit fell by CRVL's Suppliers Net margin fell in Q3 to
-80.22 % 0.59 %


Corvel Corporation's Suppliers Sales Growth in Q3 2023 by Industry

Suppliers from Accident & Health Insurance Industry      6.95 %
Suppliers from Life Insurance Industry -36.54 %   
Suppliers from Insurance Brokerage Industry      10.99 %
Suppliers from Property & Casualty Insurance Industry      15.95 %
Suppliers from Miscellaneous Financial Services Industry -3.88 %   
Suppliers from Regional Banks Industry      11.55 %
Suppliers from Commercial Banks Industry -7.08 %   
Suppliers from In Vitro & In Vivo Diagnostic Substances Industry      7 %
Suppliers from Computer Peripherals & Office Equipment Industry    
     
• CRVL Suppliers Valuation • CRVL Suppliers Mgmt. Effect.





CRVL's vs. Suppliers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Corvel Corporation 4,291.40 749.96 74.72 3,508
Aflac Incorporated 50,596.26 18,701.00 4,659.00 12,447
Allstate Corp 45,936.22 50,474.00 3,599.00 54,700
Aon Plc 65,540.84 13,407.00 2,628.00 50,000
Truist Financial Corporation 46,437.36 21,281.00 -1,047.00 52,641
Cincinnati Financial Corporation 18,686.06 10,013.00 1,843.00 5,166
Lincoln National Corporation 4,152.81 11,645.00 -752.00 10,848
Metlife Inc 55,314.36 66,905.00 1,602.00 43,000
Principal Financial Group inc 20,101.25 13,665.80 670.10 18,600
Prudential Financial Inc 41,742.29 53,979.00 2,508.00 40,916
Unum Group 10,252.62 12,385.90 1,283.80 10,300
The Cigna Group 104,714.28 195,265.00 5,372.00 73,700
Mbia Inc 306.50 95.00 -407.00 252
The Hartford Financial Services Group Inc 31,045.29 24,527.00 2,504.00 18,100
Loews Corp 17,547.69 15,901.00 1,545.00 10,340
Genworth Financial Inc 2,799.76 7,488.00 139.00 5,300
Berkshire Hathaway Inc 492,047.10 349,271.00 77,710.00 0
International Bancshares Corporation 3,322.76 798.87 411.77 2,822
Old National Bancorp 4,783.53 1,777.61 581.99 2,652
Trustmark Corp 1,575.06 735.04 95.30 2,941
Leaf Group Ltd 303.81 231.10 -4.48 0
Security National Financial Corporation 189.50 351.77 32.87 1,271
Atlantic American Corp 56.20 185.28 3.10 147
Cno Financial Group Inc 3,051.87 4,146.80 276.50 3,500
Triple s Management Corporation 839.80 4,115.22 81.17 3,257
Partnerre Ltd 0.00 7,399.54 702.17 0
American National Group Inc 5,108.64 4,299.31 639.89 4,736
Citizens Inc 110.98 240.68 24.44 620
Fbl Financial Group Inc 1,493.99 788.43 102.89 1,637
First Trinity Financial Corp 0.00 75.76 7.92 9
National Security Group Inc. 41.46 66.13 0.82 1
National Western Life Group Inc 1,717.33 639.35 128.42 261
Utg Inc 98.25 44.80 16.24 42
Voya Financial Inc 7,627.66 7,348.00 729.00 0
American International Group Inc 54,674.45 46,802.00 3,878.00 36,600
Progressive Corp 121,236.07 62,108.50 3,902.40 49,077
Assurant Inc 9,591.26 11,131.60 642.50 15,600
Travelers Companies inc 51,897.01 41,364.00 2,991.00 30,800
Brown and Brown Inc 24,118.16 4,132.40 747.00 12,023
Tiptree Inc 648.17 1,625.42 4.89 929
Arch Capital Group Ltd 34,632.89 13,634.00 4,442.00 5,200
Aspen Insurance Holdings Limited 0.00 2,890.00 51.10 0
Aspira Women s Health Inc 35.20 9.18 -20.91 1,433
Axis Capital Holdings Limited 5,436.82 5,643.39 376.29 1,225
Conifer Holdings Inc 13.20 106.12 -4.33 133
China United Insurance Service Inc 46.04 134.74 15.91 2,239
Donegal Group Inc 448.87 927.34 4.43 0
Essent Group Ltd 5,927.85 1,109.76 696.39 366
Fednat holding company 0.17 235.04 -127.63 297
Enstar Group Ltd 4,725.28 1,429.00 1,218.00 1,327
Global Indemnity Group Llc 413.74 613.45 43.28 460
Hallmark Financial Services inc 0.64 -44,376.36 -79.88 411
Hci Group Inc 1,093.41 507.94 51.00 225
Horace Mann Educators Corporation 1,454.04 1,491.90 45.00 1,350
Heritage Insurance Holdings Inc 219.20 723.12 26.87 247
James River Group Holdings Ltd 300.22 903.08 124.29 367
Kingsway Financial Services Inc 220.93 103.41 62.77 305
Kingstone Companies Inc 42.49 144.68 -13.06 69
Kemper Corporation 3,742.18 4,944.20 -272.30 5,600
Mercury General Corporation 2,688.00 4,629.63 96.34 4,500
Markel Group Inc 20,310.58 15,803.63 2,101.09 10,600
Ncr Atleos Corporation 1,410.59 1,525.27 69.84 715
Old Republic International Corporation 8,346.19 7,258.30 598.60 8,200
Fundamental Global Inc 14.41 42.41 -6.28 0
Safety Insurance Group Inc 1,215.52 930.96 18.88 622
State Auto Financial Corporation 2,324.20 1,659.20 71.70 2,065
Hanover Insurance Group Inc 4,559.79 5,943.40 -84.20 4,800
United Fire Group Inc 565.05 1,174.22 36.38 1,057
American Coastal Insurance Corporation 475.42 -114.85 -592.40 0
Unico American Corporation 0.02 15.48 -12.87 86
Universal Insurance Holdings Inc 597.79 1,391.58 66.82 392
W R Berkley Corp 23,390.10 12,142.94 1,383.85 7,681
White Mountains Insurance Group ltd 0.00 2,166.70 580.90 2,973
Alleghany Corp 11,411.19 11,799.42 810.84 3,135
Midwest Holding Inc 102.33 37.47 1.06 0
SUBTOTAL 1,435,871.00 1,122,991.03 131,632.44 643,315


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