CorVel Announces Revenues and Earnings  

About this update from Corvel Corp.

[{"type":"text","content":"IRVINE, Calif., Nov. 03, 2020 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announced its results for the quarter ended September 30, 2020. Earnings per share for the quarter ended September 30, 2020 were 65 cents. Revenues for the period were $136 million. Earnings per share for the six months ended September 30, 2020 were $1.11 and revenues for the six months ended September 30, 2020 were $266 million.\n While global economic uncertainty remains, CorVel’s business fundamentals are sound and performed well during the quarter. In conjunction with robust year-to-date sales of new business, adjustments made to operational parameters in response to the pandemic contributed to strong cash flows. The pandemic has accelerated adoption of new technology and driven the Company’s digital strategy forward. CorVel was the first third-party administrator (TPA) to introduce a patient advocacy model coupled with telehealth more than five years ago. Over these last six months, CorVel has seen an exponential increase in telehealth usage, with a corresponding improvement in results achieved. The broader healthcare market continues to be important to CorVel’s overall results and future plans. While the healthcare market has experienced consolidation and a move towards internalizing payment integrity functions, CERiS has forged several additional long-term partnerships covering one-third of the covered lives in the U.S. These strategic alliances improve healthcare payment operations through innovative technology and generate cost savings by identifying and reducing inappropriate spending. About CorVel CorVel Corporation is a national provider of innovative workers’ compensation, auto, liability and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch throughout the risk management process so our clients can intervene early and often while being connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and administer programs that meet their organization’s performance goals. Safe Harbor Statement under the ...

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