CorVel Corporation has recently released its 10-K report, providing a detailed look at its business operations. The company, incorporated in 1987 and based in Fort Worth, Texas, specializes in providing workers' compensation, general and auto liability, and hospital bill auditing and payment integrity solutions. It leverages technology, including artificial intelligence, machine learning, and natural language processing, to enhance the management of episodes of care and associated healthcare costs. CorVel also offers network solutions services, patient management services, and Medicare solutions to employers, third party administrators, insurance companies, and government agencies.
In fiscal 2025, CorVel spent $37.6 million to repurchase 377,154 shares of its common stock under a plan approved by the Company’s Board of Directors. Since the commencement of this program in fiscal 1997 through fiscal 2025, the Company has repurchased 114,476,691 shares of its common stock, at a cost of approximately $832 million, and had 2,523,309 shares of common stock authorized for repurchase remaining under its share repurchase program as of March 31, 2025. The company also effected a three-for-one forward stock split of its common stock during fiscal 2025.
CorVel's network solutions and patient management services are designed to reduce claim costs by advocating medical management at the onset of an injury. Its network solutions services include professional nurse review, true line item review, expert fee negotiations, specialty networks, preferred provider organization ("PPO") management, medical bill repricing, automated adjudication, and electronic reimbursement. The company's patient management services encompass claims management, case management, 24/7 nurse triage, utilization management, vocational rehabilitation, and life care planning, among others.
Additionally, the company offers Medicare solutions, clearinghouse services, and directed care services, providing access to specialty medical services required to support an injured worker’s medical treatment plan. CorVel also provides pharmacy services, including formulary management, discounted prescriptions, drug interaction monitoring, utilization management, and eligibility confirmation.
CorVel's 10-K report also highlighted the company's nationwide presence across a network of branches, with its Fort Worth, Texas location serving as a centrally located hub for the company. The report also provided an industry overview, citing the Bureau of Labor Statistics' reported occupational injury count for 2023 and discussing cost containment and claims management as significant employer concerns in the workers’ compensation arena. The market has reacted to these announcements by moving the company's shares -3.69% to a price of $110.36. Check out the company's full 10-K submission here.
