CorVel Announces MedCheck 2000 Version 3.5
IRVINE, Calif., Aug. 10 /PRNewswire/ -- CorVel Corporation (Nasdaq: CRVL), a national healthcare management company, today announced the introduction of version 3.5 of its industry-leading medical bill review and PPO (preferred provider networks) management software, MedCheck 2000. MedCheck 2000 adjudicates medical reimbursement for workers' compensation, automobile and accident & health medical claims. Casualty claims are typically managed through many geographically dispersed offices. MedCheck 2000 is web-enabled, allowing claims to be submitted electronically, as well as through traditional paper processes. Version 3.5 includes expanded PPO administration features and browser-based interfaces for both claims processing and reporting. The product had been previously expanded to include features unique to the processing of automobile claims. The current release is focused on applications in the workers' compensation market, and is of particular interest to State Funds, municipalities and other large insurance and third party administrator (TPA's) payors. CorVel customers can utilize MedCheck's service bureau capabilities to outsource their bill review processing needs. However, they can also process varying portions of their workload from their own sites, or utilize MedCheck on an Application Services Processing (ASP) basis. In this latter mode the claims administration organization can access the software over the Internet and process all, or a portion of their claims, themselves. The use of ASP processing allows payors to benefit from all of MedCheck's capabilities without having to invest in computer systems, software support and maintenance or the administration of the many information databases critical to proper medical reimbursement adjudication. MedCheck includes automated processing capabilities. CorVel's artificial intelligence module "First Review" is designed to evaluate incoming medical bills, apply medical protocols and reimbursement guidelines and complete the reimbursement of the medical professional, all automatically. In addition, CorVel's Business-to-Business (B2B) website CareMC, http://www.caremc.com incorporates MedCheck 2000. CareMC provides claims professionals a portal that gives them the ability to view online, medical claims in process and to both approve bills for payment as well as make decisions regarding next steps in the management of the claim. MedCheck 2000 is architected so that customers can seamlessly blend outsourced processing with work performed internally. Claims professionals, as well as various levels of management, can easily access real-time reports of claims history. CorVel's 185 offices nationwide provide a network of local resources, which can be engaged on an as-needed basis to bolster the capabilities of insurers and TPA's employing MedCheck. The reporting module allows claims processors to view approved bill history by claim, claimant, provider, or their business entity (department, division, region, etc.). The reports can be structured to focus on summary or detailed information and can include work completed in the current day's activities. 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, accident and 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 1,000 clients through its 2,850 associates and 185 offices in 49 states. Leveraging its commitment to flexibility and personal service, CorVel delivers custom solutions for employers, insurers, third party administrators and government entities. This press release contains forward-looking statements that are subject to risks and uncertainties, including the risk that the historical financial performance of CorVel may not be indicative of future financial performance and the risk that anticipated events do not occur as planned, as well as other risks detailed from time to time in the company's SEC reports, including the report on Form 10-K for the year ended March 31, 2000, and the company's most recent form 10-Q.RELATED LINKS
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