CRVL CorVel Corp

CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, congratulates their client, Randy Jouben, Risk Manager for Fairfax County, Virginia, for receiving the 2023 Workers’ Comp Risk Management Award for Excellence. The awards program recognizes risk managers and employers whose safety, risk mitigation, and return-to-work programs are success stories based on actual workplace results.

Randy Jouben is the risk manager for Fairfax County, Virginia, one of the largest municipalities in the United States. He is recognized for developing an “employee first” philosophy by implementing new resources for first responders, including onsite physical therapy, developing provider panels focusing on patient-centered care, initiating wellness checks to ensure claims progress quickly, and establishing an integrated pharmacy program to track and reduce opioid usage.

Working with their TPA, CorVel Corporation, Randy and his team helped Fairfax County achieve an overall reduction in claims with indemnity payments, while total comp paid dropped by more than $100,000. The program also saw an almost 3 percent reduction in opioid prescriptions diagnosed from 2016 to 2022.

“We are proud to partner with Randy and his team in developing these programs and congratulate him on this achievement,” said CorVel CEO and President Michael Combs. “Randy is an innovator who is not afraid to step out and try new ideas; the entire industry will benefit from his pioneering efforts.”

The 2023 Workers’ Comp Risk Management Award for Excellence honorees were announced in the August 2023 issue of NU Property & Casualty magazine. They will also participate in a platform presentation at the 2023 Workers’ Compensation Annual Conference happening August 20 – 23 in Orlando, FL.

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 worker’s 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 backed by a national team to support clients as 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 Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Company’s managed care services and the Company’s continued investment in these and other innovative technologies, and statements relating to the Company’s workers’ comp service offerings. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties, and assumptions that could cause the Company’s 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 Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 and the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2022, September 30, 2022, and December 31, 2022. 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.

CorVel Corporation

801 Cherry St. #2400

Fort Worth, TX 76102

Contact: Melissa Storan

Phone: 949-851-1473

www.corvel.com