GlobeNewswire Inc | Apr 19, 2021 07:43AM EDT

April 19, 2021

FORT WORTH, Texas, April 19, 2021 (GLOBE NEWSWIRE) -- CERiS, a division of CorVel Healthcare anda leading national provider of cost containment solutions, now offers a comprehensive prospective claim review services for client firms that pay medical claims. The expanded service produces the most complete and accurate review available for both itemized bills and DRG (diagnostic-related groupings) validation.

Our itemization review already has the industrys best track record for correcting billed charges, noted Corey Albrecht, President of CERiS. For claims that pay a DRG base rate or an outlier payment and/or have carve-out language, were the first firm to deliver a complete package by offering full DRG validation review, Albrecht remarked.

CERiSs dual reviews validate coding on the DRG base rate and simultaneously perform an itemization review to identify disallowed charges on the outlier payment. All reviews are completed within prompt payment requirements with this turnkey prepayment review before theyre paid.

CERiSs independent ownership and amicable, decades-long, relationship with medical providers contribute to its success in obtaining itemized bills and medical records for review. CERiSs technology reduces provider friction while verifying payment integrity and delivering industry-leading results to health plans and TPAs.

In an industry where insurers are acquiring similar claims review operations, CERiS is unique in that it is independently owned by a 30-year-strong public company, CorVel Corporation. CERiSs solutions utilize CorVels pioneering AI and machine learning for automation and predictive analytics to deliver efficient prepay solutions for payment integrity programs.

CERiS is at the forefront of the transition to prepayment solutions with the ability to review all claim types across commercial and government business.

CERiS is aligned with CorVels long-term view of success, and were committed to achieving substantial growth for our payment integrity operations over the coming decade, said Albrecht. Were continually investing in new systems and services to keep our customers on the leading edge of marketplace transformations.

About CERiSCERiS, a leader in both prospective and retrospective claims review and repricing, combines clinical expertise and cost containment solutions to ensure the accuracy and transparency in healthcare payments. Accuracy and validation services include itemization review, DRG validation, facility repricing, contract and policy applications, review of implants and devices, and primary payer cost avoidance. Its universal chargemaster contains billions of charge items from more than 97% of the nations hospitals, helping to ensure the accuracy and objectivity of each claim review.

About CorVel CorVel Corp.applies technology including artificial intelligence, machine learning and natural language processing to enhance the managing of episodes of care and the related health care costs.We partner with employers, third-party administrators, insurance companies and government agencies in managing workers compensation and health, auto and liability services. Our diverse suite of solutions combines our integrated technologies with a human touch. CorVel's customized services, delivered locally, are backedby a national teamtosupport clientsas well as their customers and patients.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Companys current expectations, estimates and projections about the Company, managements beliefs, and certain assumptions made by the Company, and events beyond the Companys control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Companys network solution services and the Companys continued investment in these and other innovative technologies, and statements relating to the Companys strategic alliances within the healthcare market. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Companys actual results to differ materially and adversely from those expressed in any forward-looking statement, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment.

The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Companys filings with the Securities and Exchange Commission, including but not limited to Risk Factors in the Companys Annual Report on Form 10-K for the year ended March 31, 2020 and the Companys Quarterly Report on Form 10-Q for the quarters ended September 30, 2020 and December 31, 2020. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

Contact: Melissa StoranPhone: 949-851-1473 http://www.corvel.com