CorVel Net Income Slips despite Revenue Gain

CorVel Corp. on Tuesday reported net income of $6.9 million for the second quarter, a 17% decline in net income compared to the prior-year quarter, despite growth in revenues. CorVel reported gross revenues of $126.9 million for the second quarter, up 2% from $124.4 million in the second quarter of 2014. CorVel said its revenue growth was driven by increases in its claims-management services. Also, revenues from its facility claim review service in the health market continued to grow as insurers and self-insured employers face increasing pressure to contain inflation in medical costs. ...