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Jun 30, 2020
CorVel Q1 2021 Earnings Report
CorVel's Q1 2021 earnings were announced, revealing the impact of the pandemic on healthcare spending and the company's strategic response through technology investments.
Key Takeaways
CorVel Corporation reported earnings per share of 46 cents and revenues of $129.6 million for the quarter ended June 30, 2020. The results reflect the reduction in elective surgeries and general physician care due to the pandemic. The company's quarter-ending cash balance was $94 million, an increase of $11 million from the prior quarter. CorVel expanded virtual care solutions and continued developing its integrated claims management platform.
Earnings per share were reported at 46 cents for the quarter ended June 30, 2020.
Revenues for the quarter totaled $129.6 million.
The quarter-ending cash balance increased by $11 million to $94 million.
The company scaled telehealth physician capabilities and expanded tele-rehab services.