Irvine, CA – CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended June 30, 2019. Earnings per share for the quarter ended June 30, 2019 were $0.71, an increase of 15% from earnings per share of $0.62 in the same quarter of the prior year. Revenues for the quarter ended June 30, 2019… [Read more]
Claims, Legal, & Compliance News
Managed Care Advisors Acquires WebOPUS Federal to Deliver Federal Workers’ Comp Services
Bethesda, MA – Managed Care Advisors, Inc. (MCA) recently announced its acquisition of WebOPUS® Federal, a cloud-based workers’ compensation case management, document storage and reporting system that has been customized to meet the needs of Federal agencies since 2005. The software supports transparency, coordination and efficiency across stakeholders, including Agency Workers’ Compensation, Safety, Medical and… [Read more]
NY DFS Fines Applied Underwriters $3 Million for Unlicensed Workers’ Comp Business
New York, NY – Financial Services Superintendent Linda A. Lacewell recently announced the Department of Financial Services (DFS) has fined Applied Underwriters $3 million for offering workers’ compensation insurance bundled with side agreements called “Reinsurance Participation Agreements,” which were not filed with or approved by the Department. Under these side agreements many employers, including small… [Read more]
Guest Post: Catastrophic Care Management: Overcoming Challenges to Advocate for Recovery
By Michelle Baker BS, RN, CRRN, CCM, WCCM; Manager, Network Services, Catastrophic Care Management Why do catastrophic field case managers do what we do? Is it the long hours? Is it the tiring days in the car, to come back to the office and “document your day?” No. We do it because we love the… [Read more]
Sedgwick to Acquire York Risk Services Group
Memphis, TN – Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, has signed an agreement to acquire York Risk Services Group. Following the close of the transaction, the Sedgwick family will comprise nearly 27,000 colleagues. York is a premier provider of claims administration, managed care, specialized loss adjusting, pool administration… [Read more]
Missouri Employers Mutual Partners with Valen Analytics on Claims Triage Solution
Denver, CO – Insurity company Valen Analytics recently announced that Missouri Employers Mutual (MEM), an insurer specializing in workers compensation, is leveraging Valen’s ClaimsRight® solution to develop a claims model that employs data science and predictive analytics to identify insurance claims with the potential to escalate in severity. The model generates a claims risk score… [Read more]
WCRI: Avg Total Cost of TX Workers’ Comp Claim Stable from 2012-17, Among Lowest in Study
Cambridge, MA – The average total cost of a Texas workers’ compensation claim remained stable from 2012 to 2017 and was among the lowest of 18 states analyzed, according to a recent study by the Workers Compensation Research Institute (WCRI). “The recent Texas trends in cost components for claims differed from trends in many other… [Read more]
TRISTAR Embraces Artificial Intelligence with CLARA analytics
Santa Clara, CA – CLARA analytics recently announced that third-party claims administrator TRISTAR has deployed CLARA’s entire suite to assist in workers’ comp claim management. In just the first four months of implementation, TRISTAR has already experienced a significant reduction in claims work, particularly when determining Medicare Set-Aside Arrangement (MSA) services, which can now be… [Read more]
Genex Announces 2019 Heart of Case Management Award Winners
Wayne, PA – A paramedic who survived a helicopter crash to become an RN. An airport ground worker who overcame a serious puncture wound to return to lead his crew. A proud veteran who regained use of his left arm after a devastating shoulder injury. Across the nation, case managers at Genex Services make life-changing… [Read more]
Chicago Mayor Announces Reforms to Workers’ Compensation Program
Chicago, IL – Mayor Lori E. Lightfoot recently announced sweeping reforms to the City of Chicago’s workers’ compensation program, designed to improve services for injured workers and to help prevent fraud, waste and abuse in the administration of claims. The reforms follow the completion of an independent audit of the program. The audit revealed that… [Read more]