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During the mid '90s, CorVel doubled its office network again, and expanded its software offerings. [5] PPO services became an important part of most healthcare management sales. Out of network medical review was added to the portfolio of provider programs. [6] By 2005, CorVel grew to over 2,000 clients and 15% compounded annual stock growth.
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Jeffrey Michael (born 1955/1956) is an billionaire who was a founding investor of healthcare technology company CorVel Corporation.. In 1987, Michael joined with Gordon Clemons and Jim Michael and founded CorVel Corporation (originally named FORTIS), [1] a consolidation of three small vocational rehabilitation firms then valued at $2 million with over 200 associates. [2]
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In U.S. health insurance, a preferred provider organization (PPO), sometimes referred to as a participating provider organization or preferred provider option, is a managed care organization of medical doctors, hospitals, and other health care providers who have agreed with an insurer or a third-party administrator to provide health care at ...
CVS Caremark was founded as MedPartners, Inc. in 1993 in Birmingham, Alabama by several local businessmen as a physician practice management (PPM) company. [1] HealthSouth, New Enterprise Associates, and Richard M. Scrushy stepped in to provide the company with early financial backing.
HCSC was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975. The company was founded in 1936 and is based in Chicago, Illinois with a network of offices in the United States. Health Care Service Corporation is the licensee of the Blue Cross and Blue Shield Association for five states ...
In 1994, it sold Raffensperger, Hughes & Co., Inc., Indiana's largest investment bank, to National City Corp. [15] In 1995, The Associated Group acquired Community Mutual Insurance, a provider of Blue Cross and Blue Shield insurance plans in Ohio with over 1.9 million policy holders), then set up Anthem Blue Cross and Blue Shield. [16] [17]