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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 3.8 % 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



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 %


Corvel'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      15.28 %
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'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
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


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