CorVel Corporation recently released its 10-K report, providing an in-depth look at its operations and financial performance. The company, based in Fort Worth, Texas, offers a range of solutions to employers, third-party administrators, insurance companies, and government agencies to manage medical costs and monitor the quality of care associated with healthcare claims. CorVel applies advanced technology, including artificial intelligence, machine learning, and natural language processing, to enhance the management of episodes of care and related healthcare costs.
In fiscal 2025, the company repurchased 377,154 shares of its common stock at a cost of $37.6 million, bringing the total shares repurchased since the program's commencement in fiscal 1997 to 114,476,691 shares, at a cost of approximately $832 million. Additionally, a three-for-one forward stock split of its common stock was effected during the same period. V. Gordon Clemons retired as an employee of the company, as a member of the Board, and as Chairman of the Board, with Michael G. Combs, the Chief Executive Officer and President, succeeding him as Chairman of the Board.
CorVel's network solutions and patient management services aim to reduce claim costs by advocating medical management at the onset of an injury. Its network solutions services include professional nurse review, bill review, PPO management, and CERIS®, which performs a clinical review and comparative analysis of itemized billing statements against national and customer payment standards. The company's bill review services encompass coding review, reasonable and customary review, fee schedule analysis, pharmacy review, and more.
Furthermore, CorVel provides pharmacy services, directed care services, Medicare solutions, clearinghouse services, and patient management services, including claims management, case management, 24/7 nurse triage, utilization management, vocational rehabilitation, and disability, liability claims, and auto claims management. The company's integrated, end-to-end bundled programs are designed primarily for self-insured employers, while individual modules and à‑la‑carte add-ons tend to fit larger scale relationships, where insurance carriers or TPAs plug specific CorVel capabilities into a broader service stack.
The 10-K report also highlighted the occupational injury count, which was reported to be 2.37 million in 2023, compared to 2.34 million in 2022. CorVel was able to offset the decrease in claims with an increase in market share. The report also emphasized the company's focus on cost containment and claims management, addressing significant employer concerns and offering holistic savings solutions to control costs.
CorVel's nationwide presence across a network of branches, with its Fort Worth, Texas location serving as a centrally located hub, positions the company for future growth across its business areas of service. The company's long-term strategy of network development and commitment to service quality and depth of discount are highlighted as essential components of its PPO network.
Following these announcements, the company's shares moved -3.69%, and are now trading at a price of $110.36. For more information, read the company's full 10-K submission here.
