CorVel Announces Business Insurance Innovation Award
IRVINE, California, March 13, 2014 — CorVel Corporation (NASDAQ: CRVL) announced they have been recognized by Business Insurance magazine as a recipient in its 2014 Innovation Awards Program. The Business Insurance Innovation Awards recognize leadership and innovation for risk management programs that focus on new technology, new products and services, and other advancements in the insurance industry.
CorVel was selected for their caremc.com claims system’s Clinical Modeling module. Claims professionals can proactively identify significant cost-drivers in pharmacy utilization from a comprehensive analysis of all bill review data. The proprietary system automatically flags specific triggers such as high narcotics usage, multiple prescribers and certain drug combinations that can contribute to rising costs or lead to conditions like prescription abuse. Additionally, by monitoring comorbidities and morphine equivalency, CorVel’s algorithm creates a risk score for each patient, flagging cases that can benefit from clinical management and engagement with the patient’s treating physician.
David Lupinsky, Vice President of Medical Review Services, CorVel Corporation, commented on the award. “We are truly honored and appreciate the recognition from Business Insurance. We have all heard the troubling statistics with medications and narcotic usage. Our goal is to face these issues head-on with a system that proactively identifies potentially problematic claims.”
Business Insurance showcased winners of this year’s awards during a luncheon ceremony held on March 12 in New York City. To learn more about the 2014 Business Insurance Innovator Awards, please visit BusinessInsurance.com. To learn more about CorVel Corporation, please visit www.corvel.com.
CorVel Corporation is publicly traded on the NASDAQ National Market System under the stock symbol CRVL. The CorVel Corporation Annual Report on Form 10-K filed with the Securities and Exchange Commission may be obtained by clicking here or by contacting:
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Irvine, California 92614