Corvel Corporation (CRVL) |
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Corvel's Suppliers Performance
CRVL's Supply Chain
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CRVL Costs vs Sales of Suppliers Growth |
Corvel's Suppliers recorded an increase in sales by 3.8 % year on year in Q3 2023, from the previous quarter, sales fell by -1.27 %, Corvel recorded an increase in cost of sales by 6.84 % year on year, sequentially cost of sales grew by 2.03 % in Q3.
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Corvel's Suppliers recorded an increase in sales by 3.8 % year on year in Q3 2023, from the previous quarter, sales fell by -1.27 %, Corvel recorded increase in cost of sales by 6.84 % year on year, sequentially cost of sales grew by 2.03 % in Q3.
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News about
Corvel Corporation Contracts
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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 |
-78.45 % |
0.56 % |
CRVL's Suppliers Net profit fell by -78.45 % |
CRVL's Suppliers Net margin fell in Q3 to 0.56 % |
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
|
5,491.74 |
749.96 |
74.72 |
3,363 |
Aflac Incorporated
|
65,333.75 |
19,303.00 |
5,471.00 |
10,000 |
The factor of 0.281 indicates a mild correlation between Aflac Incorporated's revenue and those of Corvel Corporation. |
Allstate Corp
|
50,901.25 |
59,449.00 |
166.00 |
53,000 |
Among Corvel Corporation suppliers, the revenue of Allstate Corp has shown a strong correlation over the past 2 years. The correlation coefficient is 0.971 |
Aon Plc
|
74,243.33 |
14,238.00 |
2,605.00 |
50,000 |
Among Corvel Corporation suppliers, the revenue of Aon Plc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.734 |
Truist Financial Corporation
|
56,724.14 |
13,545.00 |
-1,640.00 |
49,037 |
|
Cincinnati Financial Corporation
|
21,858.91 |
10,646.00 |
2,151.00 |
5,426 |
Cincinnati Financial Corporation's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.486 |
Lincoln National Corporation
|
5,508.13 |
14,171.00 |
1,781.00 |
11,024 |
A negative correlation coefficient of -0.106 implies that the revenue of Lincoln National Corporation does not correlate significantly with that of Corvel Corporation. |
Metlife Inc
|
59,878.50 |
68,774.00 |
2,937.00 |
45,000 |
A negative correlation coefficient of -0.337 implies that the revenue of Metlife Inc does not correlate significantly with that of Corvel Corporation. |
Principal Financial Group inc
|
20,693.08 |
15,653.60 |
1,299.70 |
19,800 |
The revenue of Principal Financial Group inc does not correlate significantly with that of Corvel Corporation. The correlation coefficient is 0.026 |
Prudential Financial Inc
|
44,921.35 |
61,828.00 |
2,857.00 |
40,366 |
The revenue of Prudential Financial Inc does not correlate significantly with that of Corvel Corporation. The correlation coefficient is 0.040 |
Unum Group
|
11,694.50 |
12,671.30 |
1,317.30 |
10,812 |
Among Corvel Corporation suppliers, the revenue of Unum Group has shown a strong correlation over the past 2 years. The correlation coefficient is 0.979 |
The Cigna Group
|
97,055.34 |
217,940.00 |
3,973.00 |
72,500 |
Among Corvel Corporation suppliers, the revenue of The Cigna Group has shown a strong correlation over the past 2 years. The correlation coefficient is 0.939 |
Mbia Inc
|
173.47 |
95.00 |
-407.00 |
252 |
|
The Hartford Financial Services Group Inc
|
35,475.40 |
25,473.00 |
2,923.00 |
18,700 |
Among Corvel Corporation suppliers, the revenue of The Hartford Financial Services Group Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.957 |
Loews Corp
|
17,568.45 |
16,682.00 |
1,633.00 |
12,280 |
Among Corvel Corporation suppliers, the revenue of Loews Corp has shown a strong correlation over the past 2 years. The correlation coefficient is 0.952 |
Genworth Financial Inc
|
3,036.42 |
7,375.00 |
156.00 |
5,300 |
A negative correlation coefficient of -0.345 implies that the revenue of Genworth Financial Inc does not correlate significantly with that of Corvel Corporation. |
Berkshire Hathaway Inc
|
492,047.10 |
349,271.00 |
77,710.00 |
0 |
Among Corvel Corporation suppliers, the revenue of Berkshire Hathaway Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.957 |
International Bancshares Corporation
|
3,649.07 |
798.42 |
403.95 |
2,822 |
International Bancshares Corporation's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.552 |
Old National Bancorp
|
5,788.07 |
1,744.43 |
521.87 |
3,940 |
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Trustmark Corp
|
1,932.97 |
735.04 |
95.30 |
2,757 |
Among Corvel Corporation suppliers, the revenue of Trustmark Corp has shown a strong correlation over the past 2 years. The correlation coefficient is 0.833 |
Leaf Group Ltd
|
303.81 |
231.10 |
-4.48 |
0 |
Among Corvel Corporation suppliers, the revenue of Leaf Group Ltd has shown a strong correlation over the past 2 years. The correlation coefficient is 0.741 |
Security National Financial Corporation
|
220.83 |
322.13 |
21.65 |
1,227 |
A negative correlation coefficient of -0.329 implies that the revenue of Security National Financial Corporation does not correlate significantly with that of Corvel Corporation. |
Atlantic American Corp
|
31.85 |
186.00 |
-3.15 |
108 |
The factor of 0.330 indicates a mild correlation between Atlantic American Corp's revenue and those of Corvel Corporation. |
Cno Financial Group Inc
|
3,820.75 |
4,340.70 |
432.20 |
3,500 |
Among Corvel Corporation suppliers, the revenue of Cno Financial Group Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.776 |
Triple s Management Corporation
|
839.80 |
4,115.22 |
81.17 |
3,257 |
Among Corvel Corporation suppliers, the revenue of Triple s Management Corporation has shown a strong correlation over the past 2 years. The correlation coefficient is 0.922 |
Partnerre Ltd
|
0.00 |
9,122.84 |
2,318.12 |
0 |
Partnerre Ltd 's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.505 |
American National Group Inc
|
5,108.64 |
4,299.31 |
639.89 |
4,736 |
A negative correlation coefficient of -0.406 implies that the revenue of American National Group Inc does not correlate significantly with that of Corvel Corporation. |
Citizens Inc
|
191.52 |
246.04 |
21.94 |
620 |
The factor of 0.199 indicates a mild correlation between Citizens Inc 's revenue and those of Corvel Corporation. The revenue of Citizens Inc does not correlate significantly with that of Corvel Corporation. The correlation coefficient is 0.199 |
Fbl Financial Group Inc
|
1,493.99 |
788.43 |
102.89 |
1,637 |
The revenue of Fbl Financial Group Inc does not correlate significantly with that of Corvel Corporation. The correlation coefficient is 0.180 |
First Trinity Financial Corporation
|
0.00 |
76.70 |
8.58 |
9 |
First Trinity Financial Corporation's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.496 |
National Security Group Inc.
|
41.46 |
66.13 |
0.82 |
1 |
A negative correlation coefficient of -0.426 implies that the revenue of National Security Group Inc. does not correlate significantly with that of Corvel Corporation. |
National Western Life Group Inc
|
1,767.65 |
693.05 |
180.27 |
278 |
National Western Life Group Inc 's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.651 |
Utg Inc
|
83.19 |
51.80 |
24.56 |
40 |
A negative correlation coefficient of -0.156 implies that the revenue of Utg Inc does not correlate significantly with that of Corvel Corporation. |
Voya Financial Inc
|
8,201.01 |
7,726.00 |
888.00 |
0 |
Among Corvel Corporation suppliers, the revenue of Voya Financial Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.833 |
American International Group Inc
|
50,721.94 |
41,738.00 |
-10.00 |
25,200 |
|
Progressive Corp
|
149,998.46 |
67,828.60 |
6,899.20 |
55,063 |
Among Corvel Corporation suppliers, the revenue of Progressive Corp has shown a strong correlation over the past 2 years. The correlation coefficient is 0.984 |
Assurant Inc
|
10,413.33 |
11,562.20 |
797.70 |
13,600 |
Among Corvel Corporation suppliers, the revenue of Assurant Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.907 |
Travelers Companies inc
|
54,682.62 |
44,073.00 |
3,687.00 |
33,300 |
Among Corvel Corporation suppliers, the revenue of Travelers Companies inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.956 |
Brown and Brown Inc
|
29,973.93 |
4,132.40 |
747.00 |
16,152 |
Among Corvel Corporation suppliers, the revenue of Brown and Brown Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.885 |
Tiptree Inc
|
745.99 |
1,865.93 |
58.57 |
1,504 |
Among Corvel Corporation suppliers, the revenue of Tiptree Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.936 |
Arch Capital Group Ltd
|
43,830.58 |
15,474.00 |
5,445.00 |
6,400 |
Among Corvel Corporation suppliers, the revenue of Arch Capital Group Ltd has shown a strong correlation over the past 2 years. The correlation coefficient is 0.976 |
Aspen Insurance Holdings Limited
|
0.00 |
2,966.10 |
584.60 |
0 |
The factor of 0.403 indicates a mild correlation between Aspen Insurance Holdings Limited's revenue and those of Corvel Corporation. |
Aspira Women s Health Inc
|
7.58 |
9.15 |
-16.69 |
1,433 |
Aspira Women s Health Inc 's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.568 |
Axis Capital Holdings Limited
|
7,011.24 |
5,790.36 |
652.94 |
1,418 |
Axis Capital Holdings Limited's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.695 |
Conifer Holdings Inc
|
13.08 |
106.12 |
-4.33 |
94 |
A negative correlation coefficient of -0.010 implies that the revenue of Conifer Holdings Inc does not correlate significantly with that of Corvel Corporation. |
China United Insurance Service Inc
|
46.04 |
134.74 |
15.91 |
2,239 |
The factor of 0.301 indicates a mild correlation between China United Insurance Service Inc 's revenue and those of Corvel Corporation. |
Donegal Group Inc
|
460.96 |
961.31 |
7.33 |
0 |
Among Corvel Corporation suppliers, the revenue of Donegal Group Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.983 |
Essent Group Ltd
|
6,853.01 |
1,204.68 |
738.65 |
536 |
Among Corvel Corporation suppliers, the revenue of Essent Group Ltd has shown a strong correlation over the past 2 years. The correlation coefficient is 0.815 |
Fednat holding company
|
0.17 |
235.04 |
-127.63 |
297 |
|
Enstar Group Ltd
|
4,800.77 |
1,129.00 |
924.00 |
1,327 |
Enstar Group Ltd's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.519 |
Global Indemnity Group Llc
|
458.16 |
613.45 |
43.28 |
460 |
|
Hci Group Inc
|
1,132.88 |
507.94 |
51.00 |
202 |
Among Corvel Corporation suppliers, the revenue of Hci Group Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.754 |
Horace Mann Educators Corporation
|
1,492.61 |
1,555.70 |
81.50 |
1,350 |
Among Corvel Corporation suppliers, the revenue of Horace Mann Educators Corporation has shown a strong correlation over the past 2 years. The correlation coefficient is 0.837 |
Heritage Insurance Holdings Inc
|
374.34 |
752.11 |
33.23 |
247 |
Among Corvel Corporation suppliers, the revenue of Heritage Insurance Holdings Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.966 |
James River Group Holdings Ltd
|
250.67 |
836.57 |
-89.64 |
367 |
A negative correlation coefficient of -0.059 implies that the revenue of James River Group Holdings Ltd does not correlate significantly with that of Corvel Corporation. |
Kingsway Financial Services Inc
|
224.48 |
103.59 |
-6.86 |
305 |
A negative correlation coefficient of -0.252 implies that the revenue of Kingsway Financial Services Inc does not correlate significantly with that of Corvel Corporation. |
Kingstone Companies Inc
|
108.88 |
143.11 |
5.35 |
84 |
The revenue of Kingstone Companies Inc does not correlate significantly with that of Corvel Corporation. The correlation coefficient is 0.052 |
Kemper Corporation
|
3,981.25 |
4,659.50 |
-170.30 |
5,600 |
|
Mercury General Corporation
|
3,604.36 |
5,018.90 |
319.20 |
4,100 |
Among Corvel Corporation suppliers, the revenue of Mercury General Corporation has shown a strong correlation over the past 2 years. The correlation coefficient is 0.845 |
Markel Group Inc
|
21,506.07 |
16,186.20 |
2,186.39 |
16,200 |
Markel Group Inc 's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.458 |
Ncr Atleos Corporation
|
2,115.93 |
5,118.77 |
-173.05 |
715 |
Ncr Atleos Corporation's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.684 |
Old Republic International Corporation
|
9,522.61 |
7,588.90 |
651.80 |
8,200 |
The revenue of Old Republic International Corporation does not correlate significantly with that of Corvel Corporation. The correlation coefficient is 0.051 |
Fundamental Global Inc
|
29.54 |
64.25 |
-18.13 |
0 |
Fundamental Global Inc 's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.603 |
Safety Insurance Group inc
|
1,203.25 |
1,025.77 |
50.93 |
539 |
Among Corvel Corporation suppliers, the revenue of Safety Insurance Group inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.950 |
State Auto Financial Corporation
|
2,324.20 |
1,659.20 |
71.70 |
2,065 |
The factor of 0.404 indicates a mild correlation between State Auto Financial Corporation's revenue and those of Corvel Corporation. |
Hanover Insurance Group Inc
|
5,379.98 |
5,943.40 |
-84.20 |
4,800 |
Among Corvel Corporation suppliers, the revenue of Hanover Insurance Group Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.766 |
United Fire Group Inc
|
508.82 |
1,138.21 |
-39.24 |
1,095 |
United Fire Group Inc's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.476 |
Unico American Corporation
|
0.27 |
15.48 |
-12.87 |
86 |
|
Universal Insurance Holdings Inc
|
615.47 |
1,483.68 |
83.16 |
500 |
Among Corvel Corporation suppliers, the revenue of Universal Insurance Holdings Inc has shown a strong correlation over the past 2 years. The correlation coefficient is 0.898 |
W R Berkley Corp
|
23,652.60 |
12,822.83 |
1,546.31 |
8,329 |
Among Corvel Corporation suppliers, the revenue of W R Berkley Corp has shown a strong correlation over the past 2 years. The correlation coefficient is 0.944 |
White Mountains Insurance Group ltd
|
0.00 |
2,299.10 |
557.10 |
4,629 |
White Mountains Insurance Group ltd's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.449 |
Alleghany Corp
|
11,411.19 |
11,799.42 |
810.84 |
3,135 |
Alleghany Corp's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.455 |
Midwest Holding Inc
|
102.33 |
37.47 |
1.06 |
0 |
Midwest Holding Inc 's revenue correlates notably with that of Corvel Corporation. The correlation coefficient is 0.495 |
SUBTOTAL |
1,540,641.67 |
1,178,751.20 |
136,292.12 |
650,411 |
|