market in june 2016 to celebrate 25 years as a publicly traded company . type public traded as nasdaq crvl industry claims management and healthcare management founded 1987 headquarters irvine california united states key people v gordon clemons chairman & ceo richard schweppe chief financial officer michael combs chief information officer products claims management and healthcare management revenue 504 million usd 2016 1 492 million usd 2015 1 478 million usd 2014 1 429 million usd 2013 1 413 million usd 2012 1 380 million usd 2011 1 337 million usd 2010 1 net income 28.5 million usd 2016 1 28.5 million usd 2015 1 34.3 million usd 2014 1 26.7 million usd 2013 1 26.5 million usd 2012 1 24.6 million usd 2011 1 26 million usd 2010 1 total assets 220 million 2016 2 total equity 131 million 2016 2 number of employees 3 500 2016 website www.corvel.com corvel corporation is an american provider of healthcare management services and solutions for workers compensation auto & liability group health and disability insurance markets . the company s target markets include employers insurance companies third party administrators and state and municipal governments . the company s services include claims management bill review preferred provider networks utilization management case management directed care and medicare services . 3 contents 1 history 2 operations 3 see also 4 references 5 external links history edit in 1987 gordon clemons joined with jim michael and jeff michael investors from minnesota and founded corvel corporation originally named fortis . three small vocational rehabilitation firms were consolidated to form the initial foundation of the new company valued at approximately 2 million with over 200 associates . 4 within two years the company expanded to 51 american locations and they entered the medical bill review and medical case management business . in 1991 the company first issued stock to the public and began trading on the nyse at a market capitalization value of 46 million . 4 the offering raised 3.5 million net of the repayment of venture funding . 4 the following year the fortis name was sold 4 raising 4 million 4 and the company changed its name to corvel corporation . with the funding from the name sale corvel began building a national preferred provider organization ppo . during the mid 90s corvel doubled its office network again and expanded its software offerings . 4 ppo services became an important part of most healthcare management sales . out of network medical review was added to the portfolio of provider programs . 3 by 2005 corvel grew to over 2 000 clients and 15 % compounded annual stock growth . in march 2009 the company continued to expand its workers compensation claims management solutions . during the march quarter corvel completed the acquisition of a third party administrator tpa in new york the company s third acquisition in its tpa expansion effort . software development efforts have been focused on the incorporation of artificial intelligence capabilities and workflow management tools in to the claims management systems in order to enable corvel s unique process . in august 2010 corvel introduced a provider look up app that can be accessed in the apple store and google play . this mobile app provides access to locate network doctors specialists hospitals and other facilities near the user . in august 2011 the company celebrated twenty years as a publicly traded company by ringing the opening ball at nasdaq . in august 2011 the company also introduced a claim intake app available from apple that provides mobile access to report workplace incidents and injuries . in march 2012 the company announced revenues for the quarter ended march 31 2012 that were a 4 % increase over the previous quarter in 2011 . in september 2014 corvel released a new app my care that provides online access to view indemnity payments access pharmacy cards review treatment guidelines and review details of the workplace injury claim . the newest feature of the app provides touch id for iphones that provides secure fingerprint access on ios devices . in august 2015 the company announced telehealth services as part of their existing enterprise comp claims management model to offer immediate access to medical providers for injured workers . 5 on june 29 2016 corvel celebrated 25 years on nasdaq by ringing the opening bell . operations edit corvel had revenues of 504 million for fiscal year ending march 31 2016 . 6 corvel is licensed to do business in all 50 states the district of columbia and puerto rico . see also edit workers compensation managed care preferred provider organization references edit a b c d e f g h i j k l m n o http finance.google.com finance client ob & q nasdaq crvl a b corvel corporation sec filing 10 k march 2015 . a b http www.corvel.com media 19834 corvel 10k fye march 31 2015.pdf a b c d e f http www.corvel.com about us our story.aspx cite error invalid ref tag ; name history defined multiple times with different content see the help page . cite error invalid ref tag ; name history defined multiple times with different content see the help page . cite error invalid ref tag ; name history defined multiple times with different content see the help page . cite error invalid ref tag ; name history defined multiple times with different content see the help page . cite error invalid ref tag ; name history defined multiple times with different content see the help page . http www.corvel.com investors press releases 2015 08 corvel announces telehealth services http www.corvel.com media 218715 corvel corp 3 31 16 annual report final.pdf external links edit corvel corporate website caremc corvel s b2b managed care website retrieved from https en.wikipedia.org w index.php title corvel corporation & oldid 731099652 categories companies established in 1988companies based in irvine californiainsurance companies of the united stateshealth maintenance organizationscompanies listed on nasdaqhidden categories pages with reference errorspages with duplicate reference namespages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 22 july 2016 at 23 44 . text is available under the creative commons attribution sharealike license ; 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