CorVel
- Revenue$646.2 MFY, 2022
- Market Capitalization$2.9 B2022-08-04
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.
| Type | Public | |
| Founded | 1987 | |
| HQ | Irvine, CA, US | Map |
| Website | corvel.com | |
| Employee Ratings | ||
| Overall Culture | D | More |
Recent NewsAll News
- CorVel Releases the New Integrated Claims Risk Score for Workers’ Compensation Claims, Leveraging Artificial Intelligence and Predictive Analytics
- CorVel Appoints Jeff Gurtcheff Vice President of Enterprise Comp
- CorVel Launches New Workers’ Compensation and Liability Solution, Leveraging Artificial Intelligence and Predictive Analytics
- CorVel to Present at the National Workers Compensation and Disability Conference, Focusing on the Future of Telehealth and a Proactive Approach to Patient Care
Key People/Management at CorVel
Michael Combs
CEO & President
Maxim Shishin
Chief Information Officer
Brandon O'Brien
Chief Financial Officer
Diane J. Blaha
Chief Marketing Officer
Sharon O'Connor
Vice President, Legal and Human
Gordon Clemons
Chairman
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
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 (4-Aug-2022) | 2.9b |
Closing stock price (4-Aug-2022) | 163.6 |
CorVel's current market capitalization is $2.9 b.
Annual
Quarterly
| USD | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 | Q3, 2021 | Q1, 2022 | Q2, 2022 | Q3, 2022 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | 150.1m | 147.0m | 148.1m | 129.6m | 136.0m | 141.5m | 152.6m | 157.7m | 164.5m |
Cost of goods sold | 117.0m | 114.1m | 118.8m | 103.1m | 105.5m | 110.6m | 115.4m | 121.1m | 129.3m |
Gross profit | 33.1m | 32.8m | 29.3m | 26.5m | 30.5m | 30.9m | 37.2m | 36.7m | 35.2m |
Gross profit Margin, % | 22% | 22% | 20% | 20% | 22% | 22% | 24% | 23% | 21% |
Annual
Quarterly
| USD | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 | Q3, 2021 | Q1, 2022 | Q2, 2022 | Q3, 2022 |
|---|---|---|---|---|---|---|---|---|---|
Cash | 104.4m | 97.9m | 89.6m | 94.1m | 106.1m | 128.8m | 138.7m | 131.1m | 115.5m |
Accounts Receivable | 66.8m | 71.4m | 66.2m | 67.5m | 73.1m | 63.6m | 67.3m | 69.4m | 69.5m |
Prepaid Expenses | 6.7m | 7.6m | 8.8m | 10.2m | 10.6m | 12.5m | 8.5m | 10.5m | 13.4m |
Current Assets | 221.6m | 219.1m | 210.6m | 224.4m | 242.3m | 259.2m | 266.9m | 272.0m | 268.7m |
Annual
Quarterly
| USD | Q1, 2020 | Q2, 2020 | Q3, 2020 | Q1, 2021 | Q2, 2021 | Q3, 2021 | Q1, 2022 | Q2, 2022 | Q3, 2022 |
|---|---|---|---|---|---|---|---|---|---|
Net Income | 13.4m | 26.3m | 35.6m | 8.3m | 20.2m | 31.5m | 16.8m | 32.9m | 46.8m |
Depreciation and Amortization | 9.0m | 17.8m | 16.8m | 5.8m | 11.6m | 17.6m | 5.9m | 11.8m | 17.9m |
Cash From Operating Activities | 26.4m | 46.4m | 66.3m | 15.4m | 39.5m | 73.8m | 14.5m | 35.2m | 50.4m |
Purchases of PP&E | (8.0m) | (17.5m) | (27.7m) | (3.6m) | (6.9m) | (13.3m) | (6.5m) | (11.6m) | (18.4m) |
| USD | FY, 2019 |
|---|---|
Revenue/Employee | 152.6k |
Financial Leverage | 1.6 x |
CorVel Acquisitions / Subsidiaries
| Company Name | Date | Deal Size |
|---|---|---|
| Eagle Claims Services | February 01, 2009 | $1.1 m |
| Schaffer Co. | June 05, 2007 | |
| Hazelrigg Risk Management Services | February 01, 2007 | |
| Scan One | June 01, 2003 | |
| AnciCare | May 23, 2002 | |
| CareIQ, Inc. | ||
| CorVel Enterprise Comp, Inc. | ||
| CorVel Enterprise Comp, Inc. of Canada | ||
| CorVel Enterprise Comp, Inc. of New York | ||
| CorVel Healthcare Corporation |
CorVel Revenue Breakdown
CorVel revenue breakdown by business segment: 66.7% from Patient management services and 33.3% from Network solutions services
CorVel Cybersecurity Score
CorVel Environment, Social & Governance (ESG) Ratings
CorVel Online and Social Media Presence
2.26k Twitter followers
CorVel has 2.26k Twitter Followers. The number of followers has decreased 0.2% quarter over quarter
CorVel's Trends
Twitter Engagement Stats for @CorVelCorp
1.7k
Tweets
1.1k
Following
2.3k
Followers
21
Tweets last 30 days
0.5
Avg. likes per Tweet
38.1%
Tweets with engagement
CorVel Company Culture
Overall Culture
D
56/100
CEO Rating
D
59/100
Compensation
D-
46/100
Diversity
C-
60/100
CorVel News and Updates
April 06, 2022
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
February 02, 2022
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 …
December 07, 2021
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 …
October 13, 2021
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
October 05, 2021
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
June 22, 2021
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.
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.
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