Healthcard

CorVel has announced the introduction of the CorVel Healthcard, a program the company says can help address the needs of more than 50 million Americans who have limited or no healthcare in their existing benefits plan.

The CorVel Healthcard will provide access to healthcare benefits for hospital care, physician treatment, vision care and pharmacy products. The card will link patients into a national preferred-provider network of healthcare professionals, patient hotline services and a patient-oriented website, which includes healthcare information and patient support services. An expansion of CorVel's existing line of electronic communications and internet-based services for employers, the healthcard is positioned as a continuation of the company's plan to capitalize on its investments in information systems and create next generation healthcare management services.

The Company is presenting the healthcard program at The Risk And Insurance Management Society, Inc. (RIMS) conference in San Diego, California.

A ``Strategic Partners'' program is a key element of the CorVel Healthcard initiative, the company says. It is working with other participants in the healthcare and finance industries who employ CorVel's networking and information processing capabilities, to add new service features and increased efficiencies to their products or services.

CorVel says it believes the rapidly evolving world of communications and high technology is now reaching a stage where traditional processes will give way to new and more effective methods of managing the large amounts of information involved in healthcare. CorVel is a vendor to many of the largest insurers and third party administrators in the healthcare industry, and it says it expects to extend the new healthcard features into those existing relationships.

Partners interested in the healthcare industry are expected to include companies outside the current insurance and finance industry, who are looking to leverage assets developed to serve other industries.

During the initial launch of the healthcard, the company will be working with major employers interested in improving the managed care and patient services in their current indemnity insurance plans. The CorVel Healthcard can benefit employers with high levels of part-time, uninsured staff interested in accessing managed healthcare. Also, most employer benefit programs limit or exclude certain segments of an individual's healthcare needs, whereas the healthcard offers the employer a unique program for such individuals. Associations, unions and other entities working on behalf of employees in many separate employer settings also can add the CorVel Healthcard program to the existing benefits they either provide or endorse for their members.

The company believes the card adds value for insurers, healthcare professionals, patients and employers. ``Each individual component or feature of the CorVel Healthcard will stand on its own feet as a service,'' said Gordon Clemons, CorVel's chairman. ``However, the full potential of the integrated, complete program will be much more visible in a couple of years.'' The company notes that Federal and state government programs also anticipate the future use of cards. The healthcard includes financing features and is backed by the company's existing managed care services. CorVel's capabilities include medical bill review and reimbursement and a preferred provider network comprised of over 350,000 providers in 49 states.

The CorVel Healthcard has been in development for over two years, during which time several beta-test programs have been conducted. More recently the company began market research to evaluate consumer interest and to prepare for future enhancements. At the present time the company has approximately 300 employers and 100 insurers or third party administrators who have used components of the card's current capabilities.

For more information, contact the CorVel Corporation at 2010 Main Street, Suite 1020, Irvine, CA 92614. Telephone: 888-7-CORVEL