Is Corvel a TPA or a managed care company?
Both. At least that’s how company execs want to ‘brand’ Corvel – but it isn’t what their TPA customers want to hear. Me? I’m not so sure. Here’s how Corvel described itself in a recent SEC filing: “CorVel Corporation is an independent nationwide provider of medical cost containment and managed care services designed to address the escalating medical costs of workers’ compensation and auto policies.” Interestingly, the company’s website does not describe itself as a TPA, and combines its TPA business with case management in case management. While this hasn’t changed since this time last year, it does muddy the waters – is Corvel a TPA with managed care services, or a managed care company that does a bit of claims adjusting? In last week’s earnings call, CEO Dan Starck said “We also continued with our Enterprise Comp expansion; our strategic initiative of bringing a new approach to claims management and our overall transition to becoming a full service provider to the workers’ compensati
