Medical Review Software facilitates patient data management.
Press Release Summary:
With services that extend beyond medical reimbursement, MedCheck Activ includes features to facilitate scheduling of patient visits to directed care network provider facilities as well as integrated utilization management and provider reimbursement capabilities. It employs smart routing of work to specialists and features remote document capture as well as specialty forms of medical review for employers, insurers, and third party administrators.
Original Press Release:
CorVel Announces Planned New Release of MedCheck Software
The 'Activ' Release Redefines MedCheck's Traditional Review Capabilities to Include Interactive Relationships With Healthcare Providers
IRVINE, Calif., June 30 -- CorVel Corporation (NASDAQ:CRVL) announced the planned "Activ" release of its popular MedCheck medical review software. Activ will include features to facilitate the scheduling of patient visits to directed care network provider facilities as well as integrated and expanded utilization management and provider reimbursement capabilities. For the first time the scope of services included in the MedCheck software will be extended beyond the review of medical reimbursement.
During CorVel's fiscal 2004 operations, MedCheck was expanded to include remote capture of documents. Smart processing technologies were subsequently incorporated to permit enhanced processing. These features were expanded over the last eighteen months, significantly improving results for customers. By employing smart routing of work to specialists, CorVel has been able to incorporate specialty forms of medical review in more episodes of care for employers, insurers and third party administrators. These changes have improved the processing of reimbursement to providers as well as the results for customers.
Regulatory changes in several states have increased the importance of utilization review. The Activ release will integrate such services within the MedCheck suite of services, improving their effectiveness. In addition, the Company is continuing its expansion of the use of directed care networks, where patients are assisted with the scheduling of care and in communications with healthcare providers. These services will soon be incorporated within MedCheck, as well as improvements to the processing of provider invoicing.
Throughout the last two years CorVel has been investing in its Network Solutions line of medical review services. A primary focus of such investments has been to increase the use of specialty forms of medical review in order to improve outcomes for customers. These efforts have been increasingly successful and during the March and June quarters of calendar 2006 the Company has experienced improving results. Record savings for customers have also resulted in improved operating performance and cash flow for the Company. Preliminary results for the first two months of the June quarter reflect the positive trends begun in the two prior quarters. The Company believes it is experiencing the best results achieved in the last two years, and believes the Activ release later this summer will further bolster its efforts to provide "continuous improvement" benefits to its customers.
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.
CONTACT: Heather Burnham of CorVel Corporation, +1-949-851-1473
