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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 increase in sales by 13.34 % year on year in Q1 2021, sequentially sales grew by 40.2 %, Corvel's cost of sales deteriorated by % year on year, compare to one quarter ago cost of sales fell by -0.74 % in Q1.

More on CRVL Suppliers




Corvel's Suppliers recorded increase in sales by 13.34 % year on year in Q1 2021, sequentially sales grew by 40.2 %, Corvel's cost of sales deteriorated by -5.62 % year on year, compare to one quarter ago cost of sales fell by -0.74 % in Q1.

More on CRVL Suppliers




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 Income grew by CRVL's Suppliers Net margin grew in Q1 to
13.19 %


Corvel Corporation's Suppliers Sales Growth in Q1 2021 by Industry

Suppliers in Consumer Financial Services Industry      55.18 %
Suppliers in Accident & Health Insurance Industry      7.43 %
Suppliers in Life Insurance Industry      5.03 %
Suppliers in Insurance Brokerage Industry      14.6 %
Suppliers in Property & Casualty Insurance Industry      39.83 %
Suppliers in Money Center Banks Industry      14.88 %
Suppliers in Commercial Banks Industry      15.18 %
Suppliers in Blank Checks Industry  
     
• CRVL Suppliers Valuation • CRVL Segment Rev. Growth • CRVL Segment Inc. Growth • 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 2,562 553 46 3,508
Aflac Incorporated 37,931 23,011 5,805 9,235
Allstate Corp 40,227 47,166 3,640 38,800
Aon Plc 59,223 11,773 2,142 69,000
Truist Financial Corporation 73,967 21,086 4,902 0
Cincinnati Financial Corporation 19,611 9,443 2,856 4,305
Lincoln National Corporation 12,177 17,547 672 9,627
Metlife Inc 51,427 65,094 1,380 66,000
Principal Financial Group inc 17,287 13,173 1,540 14,873
Prudential Financial Inc 41,221 60,521 2,928 48,331
Safeco Corporation 0 0 0 0
Unum Group 5,660 13,363 785 9,500
Cigna Corporation 81,061 162,903 8,471 37,200
Aetna Inc 70,069 60,705 3,503 48,800
Mbia Inc 648 251 -603 252
The Hartford Financial Services Group Inc 23,110 21,387 2,129 17,500
Loews Corp 14,555 13,106 46 17,510
Xl Group Ltd 1,823 11,388 -543 4,663
Genworth Financial Inc 1,746 8,806 479 5,300
Berkshire Hathaway Inc 521,415 245,728 18,963 0
Firstmerit Corp 0 956 185 4,112
International Bancshares Corporation 2,478 498 183 2,822
Mb Financial Inc 3,598 955 331 2,980
Old National Bancorp 2,666 835 291 2,652
Trustmark Corp 1,902 690 190 2,941
Leaf Group Ltd 304 231 -4 0
Investors Heritage Capital Corp 49 63 1 1
Security National Financial Corporation 169 525 66 1,271
American Independence Corp. 0 0 0 268
Atlantic American Corp 72 205 20 147
Cno Financial Group Inc 3,121 4,110 470 3,500
Triple s Management Corporation 567 3,899 117 3,257
Partnerre Ltd 0 7,876 254 1,035
American National Group Inc 4,435 4,461 859 4,736
Citizens Inc 274 239 -11 620
Fbl Financial Group Inc 1,494 788 103 1,637
Fidelity & Guaranty Life 1,532 1,585 243 220
First Trinity Financial Corp 0 53 2 9
Kansas City Life Insurance Co 473 484 30 436
National Security Group Inc 29 68 -7 1
National Western Life Group Inc 735 873 157 261
Protective Life Corporation 0 5,799 457 2,541
Phoenix Companies Inc 0 0 0 630
Symetra Financial Corporation 0 2,111 210 1,400
Utg Inc 108 64 31 42
Voya Financial Inc 8,436 3,462 663 7,000
American International Group Inc 42,254 43,747 -3,553 65,000
Chubb Ltd 0 38,947 8,177 0
Progressive Corp 56,266 42,688 5,500 26,501
Assurant Inc 9,814 9,962 450 17,600
Travelers Companies inc 38,183 32,798 3,411 30,200
Brown and Brown Inc 15,464 2,859 570 7,807
Tiptree Inc 348 718 66 929
Arch Capital Group Ltd 15,960 9,257 2,030 2,030
Amtrust Financial Services, Inc. 2,905 6,800 291 6,200
Aspen Insurance Holdings Limited 0 2,836 -40 0
Aspira Womens Health Inc 487 -641 -92 1,433
Axis Capital Holdings Ltd 4,338 5,119 296 1,225
Protective Insurance Corporation 333 518 40 0
Conifer Holdings Inc 27 108 1 133
China United Insurance Service Inc 55 126 7 2,239
Donegal Group Inc 465 791 60 0
Emc Insurance Group Inc. 780 722 32 1
Endurance Specialty Holdings Ltd. 0 2,539 283 1,154
Essent Group Ltd 5,076 971 399 366
First Acceptance Corp 34 348 -9 1,400
Fednat holding company 36 369 -100 297
Enstar Group Ltd 5,616 1,897 1,096 1,327
Global Indemnity Group Llc 376 655 29 460
Homeowners Of America Holding Corp 0 0 0 56
Hallmark Financial Services inc 86 492 -18 411
Hci Group Inc 824 350 34 225
Horace Mann Educators Corporation 1,676 1,326 154 1,350
Heritage Insurance Holdings Inc 204 608 -3 247
Infinity Property & Casualty Corp 1,658 1,345 33 2,300
James River Group Holdings Ltd 1,117 658 -166 367
Kingsway Financial Services Inc 118 66 -2 305
Kingstone Companies Inc 81 144 6 69
Kemper Corporation 4,260 5,606 332 5,600
Mercury General Corporation 3,368 4,069 621 4,500
Markel Corporation 16,468 12,300 2,813 10,600
National Interstate Corp 0 0 0 715
Navigators Group Inc 2,090 1,527 2 675
National General Holdings Corp 3,976 5,552 524 4,630
Onebeacon Insurance Group, Ltd. 1,880 1,242 147 1,150
Old Republic International Corporation 7,455 8,463 1,462 8,200
Fg Financial Group Inc 15 -13 -14 22
Safety Insurance Group inc 1,141 887 176 622
State National Companies, Inc. 908 237 55 400
State Auto Financial Corporation 2,250 1,680 131 2,065
Hanover Insurance Group Inc 4,987 5,124 505 4,800
United Fire Group Inc 632 1,192 -21 1,057
United Insurance Holdings Corp 188 832 -101 119
Unico American Corp 22 36 -18 86
Universal Insurance Holdings Inc 443 1,127 28 392
W R Berkley Corp 0 7,776 768 7,621
White Mountains Insurance Group ltd 0 1,418 693 2,973
Alleghany Corp 9,318 10,067 726 3,135
Midwest Holding Inc 149 -14 -36 0
SUBTOTAL 1,369,732 1,125,511 91,708 676,409


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