CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, today announced the launch of CorVel Marketwise Repricing™, a market-based medical bill repricing solution designed to enhance cost containment while fitting seamlessly into existing bill review programs. As medical billing continues to vary widely across states, providers, and care settings, traditional network and re-pricing approaches do not always reflect market pricing. Marketwise Repricing addresses this by integrating market-based reimbursement methods within CorVel's existing bill review workflow. This approach captures additional savings that traditional bill review methods may miss, ultimately reducing overall medical spend.

Marketwise Repricing uses real-world reimbursement data and market-based methods to deliver more consistent pricing that better reflects local market conditions. It works with existing network strategies, making it especially useful for out-of-network bills and in states with limited or no fee schedules. The solution is designed to layer in market-based intelligence without adding administrative burden.

"Marketwise Repricing gives clients a smarter, more supportable way to manage medical costs when traditional cost containment measures fall short," said CJ Cypcar, Vice President, Network Solutions & Product Integration at CorVel. "It strengthens existing strategies by layering in market-based intelligence, without adding administrative burden."

Key Benefits

The solution offers several advantages for clients seeking to optimize their medical cost management:

• More consistent, supportable pricing outcomes across states and provider types
• Enhanced cost containment layered onto existing bill review programs
• An alternative methodology for complex or high-variance billing scenarios
• Seamless workflow integration, with end-to-end management by CorVel

CorVel applies technology, including artificial intelligence, machine learning, and natural language processing, to enhance the management of episodes of care and 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.