CorVel Launches eBilling for Healthcare Providers

Apr 26, 2001, 01:00 ET from CorVel Corporation

    IRVINE, Calif., April 26 /PRNewswire/ -- CorVel Corporation
 (Nasdaq:   CRVL), a national healthcare management company, today announced it
 has begun processing medical bills submitted electronically from physicians.
 CorVel's CareMC website provides a portal into which bills can be submitted
 directly by providers, reviewed and then reimbursed automatically.  The CareMC
 managed care website significantly improves medical care reimbursement
 efficiency for providers submitting electronic invoices.
     CorVel is a leading preferred provider organization (PPO) and medical bill
 review processor, providing service in 49 states.  The new "eBilling" service
 allows physicians to obtain real time confirmation of the acceptance and
 review of invoices for service.  CareMC is, in turn, electronically connected
 to the claims systems of major insurers and third party administrators.  Bills
 entered to CareMC can be automatically reviewed by CorVel's "First Review"
 artificial intelligence system, automatically reimbursed and the results made
 available to the provider and the paying parties.
     "eBilling automates data entry and bill adjudication for both the payor
 and the provider," said Claudia Kettrick, CorVel's Medical Bill Review Product
 Manager.  "eBilling creates real time reimbursement review, eliminating many
 of the problems with the paper processes so common today," continued Ms.
 Kettrick.
     CorVel offers eBilling capabilities through its eCommerce website, CareMC.
 Driven by powerful proprietary software and artificial intelligence, CareMC
 Bill Review integrates accurate and up-to-the-minute bill information from
 multiple sources.  With online access to comprehensive data, claims adjusters
 and employers will be able to track costs throughout the life of a claim,
 review bills being processed on-line, and approve payment processing.
 
     Using eBilling, providers can:
     --  Record bill and cost data in real time.
     --  Receive instant confirmation the bill was received
     --  Access bill review status online
 
     Major payors and their employer customers can:
     --  Accelerate the receipt and adjudication of provider billings
     --  Review and analyze medical bills in real time
     --  Authorize payments online based on fee schedules and PPO agreements
     --  Realize time reductions in the processing of claims
     --  Expand the automation of reporting to employers
 
     The efficiencies and ancillary benefits derived from the automation of
 reimbursement, reduce costs for both providers and for claims processors.
 CareMC includes, for instance, information regarding other services requested
 by physicians, claims professionals or even patients.  By connecting the
 reimbursement activities to information regarding the services and products
 involved in the care, claims adjusters and employers can for the first time,
 see the status of medical claims in real time.  Improved coordination of care
 and timely decision-making, can contribute to better healthcare outcomes.
 
     About CareMC
     In addition to providing physician on-line reimbursement capabilities, the
 CareMC website provides both web-based and phone-based "look-up" capabilities
 to the patients seeking care from preferred networks of these providers.  By
 integrating all of the managed care services involved in an episode of care,
 CareMC extends the value in the automated processing of medical bills to other
 components of claims management.  Electronic funds transfer (EFT) can, for
 example, provide automatic transfers of reimbursement directly into the bank
 accounts of participating physicians.  CareMC can be used by payors and
 employers to consolidate information from multiple managed care providers, and
 to extend its transaction processing applications to payors and other managed
 care vendors.
 
     About CorVel
     CorVel Corporation (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 eCommerce 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 1,000 clients through
 its 2,900 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 the recent performance of CorVel's Common Stock may not be
 indicative of its future performance, 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.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X66183246
 
 

SOURCE CorVel Corporation
    IRVINE, Calif., April 26 /PRNewswire/ -- CorVel Corporation
 (Nasdaq:   CRVL), a national healthcare management company, today announced it
 has begun processing medical bills submitted electronically from physicians.
 CorVel's CareMC website provides a portal into which bills can be submitted
 directly by providers, reviewed and then reimbursed automatically.  The CareMC
 managed care website significantly improves medical care reimbursement
 efficiency for providers submitting electronic invoices.
     CorVel is a leading preferred provider organization (PPO) and medical bill
 review processor, providing service in 49 states.  The new "eBilling" service
 allows physicians to obtain real time confirmation of the acceptance and
 review of invoices for service.  CareMC is, in turn, electronically connected
 to the claims systems of major insurers and third party administrators.  Bills
 entered to CareMC can be automatically reviewed by CorVel's "First Review"
 artificial intelligence system, automatically reimbursed and the results made
 available to the provider and the paying parties.
     "eBilling automates data entry and bill adjudication for both the payor
 and the provider," said Claudia Kettrick, CorVel's Medical Bill Review Product
 Manager.  "eBilling creates real time reimbursement review, eliminating many
 of the problems with the paper processes so common today," continued Ms.
 Kettrick.
     CorVel offers eBilling capabilities through its eCommerce website, CareMC.
 Driven by powerful proprietary software and artificial intelligence, CareMC
 Bill Review integrates accurate and up-to-the-minute bill information from
 multiple sources.  With online access to comprehensive data, claims adjusters
 and employers will be able to track costs throughout the life of a claim,
 review bills being processed on-line, and approve payment processing.
 
     Using eBilling, providers can:
     --  Record bill and cost data in real time.
     --  Receive instant confirmation the bill was received
     --  Access bill review status online
 
     Major payors and their employer customers can:
     --  Accelerate the receipt and adjudication of provider billings
     --  Review and analyze medical bills in real time
     --  Authorize payments online based on fee schedules and PPO agreements
     --  Realize time reductions in the processing of claims
     --  Expand the automation of reporting to employers
 
     The efficiencies and ancillary benefits derived from the automation of
 reimbursement, reduce costs for both providers and for claims processors.
 CareMC includes, for instance, information regarding other services requested
 by physicians, claims professionals or even patients.  By connecting the
 reimbursement activities to information regarding the services and products
 involved in the care, claims adjusters and employers can for the first time,
 see the status of medical claims in real time.  Improved coordination of care
 and timely decision-making, can contribute to better healthcare outcomes.
 
     About CareMC
     In addition to providing physician on-line reimbursement capabilities, the
 CareMC website provides both web-based and phone-based "look-up" capabilities
 to the patients seeking care from preferred networks of these providers.  By
 integrating all of the managed care services involved in an episode of care,
 CareMC extends the value in the automated processing of medical bills to other
 components of claims management.  Electronic funds transfer (EFT) can, for
 example, provide automatic transfers of reimbursement directly into the bank
 accounts of participating physicians.  CareMC can be used by payors and
 employers to consolidate information from multiple managed care providers, and
 to extend its transaction processing applications to payors and other managed
 care vendors.
 
     About CorVel
     CorVel Corporation (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 eCommerce 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 1,000 clients through
 its 2,900 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 the recent performance of CorVel's Common Stock may not be
 indicative of its future performance, 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.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X66183246
 
 SOURCE  CorVel Corporation

RELATED LINKS

http://www.corvel.com