CorVel

OverviewSuggest Edit

CorVel is a provider of healthcare management services and solutions for workers' compensation, auto and liability, group health, and disability insurance markets. Its services include claims management, bill review, preferred provider networks, utilization management, case management, pharmacy services, directed care, and Medicare services.The company caters to employers, insurance companies, third-party administrators, as well as state and municipal governments.
TypePublic
Founded1987
HQIrvine, CA, US
Websitecorvel.com
Employee Ratings3
Overall CultureD

Latest Updates

Employees (est.) (Mar 2021)3,681(-3%)
Job Openings592
Revenue (FY, 2022)$646.2 M(+17%)
Share Price (Jul 2022)$158.6
Cybersecurity ratingAMore
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Key People/Management at CorVel

Michael Combs

Michael Combs

CEO & President
Maxim Shishin

Maxim Shishin

Chief Information Officer
Brandon O'Brien

Brandon O'Brien

Chief Financial Officer
Diane J. Blaha

Diane J. Blaha

Chief Marketing Officer
Sharon O'Connor

Sharon O'Connor

Vice President, Legal and Human
Gordon Clemons

Gordon Clemons

Chairman
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CorVel Office Locations

CorVel has offices in Irvine, Novi, Portland, Acton and in 51 other locations
Irvine, CA, US (HQ)
1920 Main St # 900
Novi, MI, US
46080 Grand River Ave
Portland, OR, US
111 SW 5th Ave #200
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CorVel Financials and Metrics

CorVel Revenue

CorVel's revenue was reported to be $646.23 m in FY, 2022
USD

Revenue (FY, 2022)

646.2m

Gross profit (FY, 2022)

152.1m

Net income (FY, 2022)

66.4m

Market capitalization (26-Jul-2022)

2.8b

Closing stock price (26-Jul-2022)

158.6
CorVel's current market capitalization is $2.8 b.
Annual
USDFY, 2019FY, 2020FY, 2021FY, 2022

Revenue

595.7m592.2m552.6m646.2m

Revenue growth, %

7%(1%)(7%)

Cost of goods sold

470.9m466.3m429.0m494.1m

Gross profit

124.8m125.9m123.6m152.1m
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022Q3, 2022

Revenue

150.1m147.0m148.1m129.6m136.0m141.5m152.6m157.7m164.5m

Cost of goods sold

117.0m114.1m118.8m103.1m105.5m110.6m115.4m121.1m129.3m

Gross profit

33.1m32.8m29.3m26.5m30.5m30.9m37.2m36.7m35.2m

Gross profit Margin, %

22%22%20%20%22%22%24%23%21%
Annual
USDFY, 2019FY, 2020FY, 2021FY, 2022

Cash

91.7m83.2m139.7m

Accounts Receivable

71.3m65.8m64.7m

Prepaid Expenses

7.2m11.0m8.0m

Current Assets

215.5m209.0m268.9m
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022Q3, 2022

Cash

104.4m97.9m89.6m94.1m106.1m128.8m138.7m131.1m115.5m

Accounts Receivable

66.8m71.4m66.2m67.5m73.1m63.6m67.3m69.4m69.5m

Prepaid Expenses

6.7m7.6m8.8m10.2m10.6m12.5m8.5m10.5m13.4m

Current Assets

221.6m219.1m210.6m224.4m242.3m259.2m266.9m272.0m268.7m
Annual
USDFY, 2019FY, 2020FY, 2021FY, 2022

Net Income

46.7m47.4m46.4m66.4m

Depreciation and Amortization

23.0m22.5m23.4m23.9m

Cash From Operating Activities

78.6m80.8m94.4m67.2m

Purchases of PP&E

(15.3m)(32.4m)(17.2m)(29.8m)
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022Q3, 2022

Net Income

13.4m26.3m35.6m8.3m20.2m31.5m16.8m32.9m46.8m

Depreciation and Amortization

9.0m17.8m16.8m5.8m11.6m17.6m5.9m11.8m17.9m

Cash From Operating Activities

26.4m46.4m66.3m15.4m39.5m73.8m14.5m35.2m50.4m

Purchases of PP&E

(8.0m)(17.5m)(27.7m)(3.6m)(6.9m)(13.3m)(6.5m)(11.6m)(18.4m)
USDFY, 2019

Revenue/Employee

152.6k

Financial Leverage

1.6 x
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CorVel Acquisitions / Subsidiaries

Company NameDateDeal Size
Eagle Claims ServicesFebruary 01, 2009$1.1 m
Schaffer Co.June 05, 2007
Hazelrigg Risk Management ServicesFebruary 01, 2007
Scan OneJune 01, 2003
AnciCareMay 23, 2002
CareIQ, Inc.
CorVel Enterprise Comp, Inc.
CorVel Enterprise Comp, Inc. of Canada
CorVel Enterprise Comp, Inc. of New York
CorVel Healthcare Corporation
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CorVel Revenue Breakdown

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CorVel revenue breakdown by business segment: 66.7% from Patient management services and 33.3% from Network solutions services

CorVel Cybersecurity Score

Cybersecurity ratingPremium dataset

A

95/100

SecurityScorecard logo

CorVel Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

CSRHub logo

CorVel Online and Social Media Presence

Embed Graph

CorVel Company Culture

  • Overall Culture

    D

    56/100

  • CEO Rating

    D

    59/100

  • Compensation

    D-

    46/100

  • Diversity

    C-

    60/100

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CorVel News and Updates

CorVel Releases the New Integrated Claims Risk Score for Workers’ Compensation Claims, Leveraging Artificial Intelligence and Predictive Analytics

The new functionality in CareMC Edge® assesses multiple factors to determine a claim risk score, helping claims professionals proactively address potential issues and positively impact overall outcomes

CorVel Appoints Jeff Gurtcheff Vice President of Enterprise Comp

FORT WORTH, Texas , Feb. 02, 2022 (GLOBE NEWSWIRE) -- CorVel, a national provider of risk management solutions, has named Jeff Gurtcheff as Vice President of Enterprise Comp. With more than 30 years of experience, Gurtcheff brings a deep understanding of the industry with strategic leadership and …

CorVel Launches New Workers’ Compensation and Liability Solution, Leveraging Artificial Intelligence and Predictive Analytics

CogencyIQ helps risk managers and claims professionals navigate increasingly complex claims and massive amounts of data to improve outcomes for injured workers CogencyIQ helps risk managers and claims professionals navigate increasingly complex claims and massive amounts of data to improve outcomes …

CorVel to Present at the National Workers Compensation and Disability Conference, Focusing on the Future of Telehealth and a Proactive Approach to Patient Care

President and CEO Michael Combs to Participate in Keynote Panel President and CEO Michael Combs to Participate in Keynote Panel

Risk & Insurance Names Three CorVel Partners as 2021 All-Star Risk Managers

Partnership enhances risk management strategies and improves outcomes for Staples, Oklahoma City, and Hoag Memorial Hospital

CorVel to Ring Nasdaq Opening Bell June 28 in Celebration of its 30th Anniversary as a Public Company

IRVINE, Calif., June 22, 2021 (GLOBE NEWSWIRE) -- CorVel Corporation (Nasdaq: CRVL), a national provider of risk management solutions, announced today that company representatives will ring the Nasdaq Stock Market opening bell in New York City on Monday, June 28, 2021.
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CorVel Frequently Asked Questions

  • When was CorVel founded?

    CorVel was founded in 1987.

  • Who are CorVel key executives?

    CorVel's key executives are Michael Combs, Maxim Shishin and Brandon O'Brien.

  • How many employees does CorVel have?

    CorVel has 3,681 employees.

  • What is CorVel revenue?

    Latest CorVel annual revenue is $646.2 m.

  • What is CorVel revenue per employee?

    Latest CorVel revenue per employee is $175.6 k.

  • Who are CorVel competitors?

    Competitors of CorVel include One Call Care Management, Sedgwick and GENEX Services.

  • Where is CorVel headquarters?

    CorVel headquarters is located at 1920 Main St # 900, Irvine.

  • Where are CorVel offices?

    CorVel has offices in Irvine, Novi, Portland, Acton and in 51 other locations.

  • How many offices does CorVel have?

    CorVel has 57 offices.