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 3.58 % 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.
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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.
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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 % |
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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