CorVel Integrates Managed Care Services Into Guidewire ClaimCenter

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2▲2 ▼0Impact / 5
Summary · why it matters

CorVel Corporation announced on September 22 that insurance carriers running Guidewire's ClaimCenter can now start and manage CorVel's managed care services directly from their claims screen, letting handlers pass injury details across with a single sign-on and receive status updates and recommendations without retyping. Ron Wojciechowski, CorVel's Senior Vice President of Payer Technical Solutions, pitched the integration as lowering the barrier to becoming a CorVel client, and the connection follows Guidewire's own standards and can be picked up through the Guidewire Marketplace. The launch follows CorVel's August 5 report of revenue of $260 million for the quarter ended June 30, up 11% from $235 million a year earlier, with gross profit up 19% to $67.8 million and earnings per share of $0.63 versus $0.52. CorVel ended the quarter with $256 million in cash and no borrowings, even after buying back $21.8 million of its stock. The announcement named no carriers that have adopted the tool and put no dollar figure on what it might add, while short interest sits at 11.58% of the float, reflecting skepticism over whether gross margins can sustain their current trajectory.

Impact on assets 4

Health Care▲ · 1 stocks
CorVel Corp
CRVL
▲ PositiveTechnologyCapitalrelevance

CorVel integrated its managed care services into Guidewire ClaimCenter, lowering the barrier for carriers to become clients.

Cloud & Digital Infrastructure▲ · 1 stocks
Guidewire Software Inc
GWRE
▲ PositiveTechnologyrelevance

Guidewire's ClaimCenter now supports CorVel's managed care integration via its standards and Marketplace.

Financials▲ · 1 stocks
Aging Population▲ · 1 stocks
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