IRVINE, California, July 31, 2007 - CorVel Corporation (NASDAQ: CRVL), a leading provider of workers' compensation claims management services, announced today a total billing solution designed to offer complete connectivity, editing and analytic services to healthcare providers, payors, employers and state administrators. This solution reflects CorVel's quarter century of experience in all aspects of workers' compensation managed care regulatory and administrative requirements.
CorVel offers national web-based systems capabilities combined with 130 local service branches. The Company currently provides medical review service to over 1,000 workers' compensation clients, including ebill processing and data transmission capabilities. CorVel's MedCheck medical review and CareMC internet portal services connect all constituencies in the workers' compensation system. The expanded clearinghouse service will offer healthcare providers a number of alternative interface solutions, permitting easy compliance with all regulatory requirements. CareMC has six years' experience providing direct, secure access to workers' compensation medical practice and billing detail, and will augment the clearinghouse capabilities to provide analytic and accounting support.
Incoming medical bills will be edited to ensure complete and accurate information. CorVel's data conversion facilities have fifteen years experience working with medical documentation. These facilities will interface to existing practice management systems, and also to providers using paper-based and fax solutions. Supporting attachments, whether electronic or on paper, will be automatically combined with and included in all submissions for medical reimbursement review.
CorVel's CorCare national PPO (preferred provider organization) offers payors access to national compliance with state HCO and MCO legislation, including the Texas State HCN regulations. Additionally, the new clearinghouse will coordinate referrals between providers and include patient scheduling features. CorVel's unique role in all aspects of workers'compensation managed care allows its clearinghouse to offer the widest combination of services in the industry.
Additional features include First Notice reporting, role-based smart routing, automated medical alerts, bill processing status reporting, automated compensability review, electronic payment features, analytic reporting and all required state regulatory compliance. CorVel's clearinghouse will exchange billing information with other data transmission services.
About CorVel
CorVel Corporation (http://www.corvel.com/) is a national provider of leading-edge services and solutions in the field of managed healthcare. CorVel specializes in applying information technology and e-commerce applications to improve healthcare management in the workers' compensation, group health, auto and disability management insurance markets. The Company provides networks of preferred providers, case management, utilization management, independent medical evaluations and medical bill review to more than 1,500 clients nationwide. Leveraging its commitment to flexibility and personal service, CorVel delivers custom solutions for employers, insurers, third party administrators and government entities.
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