CorVel Corporation Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
November 01, 2022 at 06:15 am
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CorVel Corporation reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was USD 177.43 million compared to USD 157.74 million a year ago. Net income was USD 14.66 million compared to USD 16.07 million a year ago. Basic earnings per share from continuing operations was USD 0.84 compared to USD 0.9 a year ago. Diluted earnings per share from continuing operations was USD 0.83 compared to USD 0.88 a year ago.
For the six months, sales was USD 353.73 million compared to USD 310.36 million a year ago. Net income was USD 31.35 million compared to USD 32.92 million a year ago. Basic earnings per share from continuing operations was USD 1.8 compared to USD 1.84 a year ago. Diluted earnings per share from continuing operations was USD 1.77 compared to USD 1.81 a year ago.
CorVel Corporation applies technology including artificial intelligence, machine learning and natural language processing to enhance the management of episodes of care and the related health care costs. The Company partners with employers, third-party administrators, insurance companies and government agencies in managing workers' compensation and health, auto and liability services. Its customized services, delivered locally, are backed by a national team to support clients as well as their customers and patients. The Company's services include claims management, bill review, preferred provider networks, utilization management, case management, pharmacy services, directed care and Medicare services. The Company offers a complete medical savings solution for all in-network and out-of-network medical bills. Its bill review services include coding review and re-bundling, reasonable and customary review, fee schedule analysis, preferred provider organization management, and repricing.