IRVINE, Calif., March 13, 2014 /PRNewswire/ -- 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 www.businessinsurance.com. To learn more about CorVel Corporation, please visit www.corvel.com.About CorVel CorVel Corporation is a national provider of innovative workers' compensation, auto, liability and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch throughout the risk management process so our clients can intervene early and often while being connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and administer programs that meet their organization's performance goals. 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 results of operations, including product investment strategies, bill review and claims management services. 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. 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, 2013 and the Company's Quarterly Report on Form 10Q for the quarters ended September 30, 2013 and December 31, 2013. 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. SOURCE CorVel Corporation