IRVINE, Calif., June 1, 2021 — CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, has redesigned the Care Advocacy model by expanding the important role played by nurses in the first 30 days of a claim. The change allows for a personal and customized program for the company’s customers and their employees.
Care Advocacy is the secondary nursing engagement in CorVel’s workers’ compensation program, following the Advocacy 24/7 nurse. This approach leverages CorVel’s integrated CareMC EdgeSM platform, which identifies claims involving moderate to severe worker injuries and connects a nurse care advocate within 24 hours of the first report.
Unlike other early intervention programs, CorVel’s Care Advocacy model involves the nurse as a patient advocate for up to 30 days after initial contact. The Care Advocate educates the injured worker on their medical diagnosis, treatment plan, and return-to-work options, and engages them in the care and recovery process as an active participant. The Care Advocate understands the claim process and ensures the worker receives care and treatment quickly and effectively. This patient-centered approach to claims management empowers the injured worker, resulting in increased satisfaction and timely return to work.
“Our newly expanded Care Advocacy program is implemented during the first 30 days of a claim—a critical time frame that sets the tone for the claim direction and ultimate outcome,” said Karen Thomas, Director of Case Management Innovation at CorVel. “During that time, our Care Advocates focus on what’s most important: the injured worker and their well-being. They are true patient advocates who help injured workers navigate the often-confusing claim process. This personalized service can improve medical outcomes and reduce the length of a claim.”
The Care Advocates also drive open communication with all claim stakeholders. They provide critical information for the claim specialist in real time using CorVel’s proprietary CareMC EdgeSM platform, which identifies potential challenges before they become issues. As a result, CorVel’s customers have seen an average 49% decrease in litigated claims, 53% decrease in total temporary disability (TTD) payments, and 74% decrease in total medical paid.
“We are very proud of our reimagined Care Advocacy program, which places an emphasis on the injured worker,” said Michael Combs, President and CEO at CorVel. “At CorVel, we believe that a patient-centered approach to claims management supported by collaborative care, innovative technology and an integrated platform can proactively address potential claims challenges. This will improve outcomes and reduce costs for customers while increasing satisfaction and care for injured workers.”
The Care Advocacy program is a key component of CorVel’s comprehensive workers’ compensation program and can be tailored to fit the needs of customers. For more information, visit www.CorVel.com.
CorVel Corp. applies technology including artificial intelligence, machine learning and natural language processing to enhance the managing of episodes of care and the related health care costs. We partner with employers, third-party administrators, insurance companies and government agencies in managing workers’ compensation and health, auto and liability services. Our diverse suite of solutions combines our integrated technologies with a human touch. CorVel’s customized services, delivered locally, are backed by a national team to support clients as well as their customers and patients.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Company’s network solution services and the Company’s continued investment in these and other innovative technologies, and statements relating to the Company’s strategic alliances within the healthcare market. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment.
The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarters ended September 30, 2020 and December 31, 2020. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
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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