About Us

Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

A Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Social Media

Bluesky • Facebook • Instagram • LinkedIn • YouTube

Meet the Laser Focus World Team

Editorial

Sales

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology
My Watchlist
Indicators
Industrial Laser Index
Markets
Stocks
ETFs
Tools
Markets:
Overview
News
Currencies
International
Treasuries

CorVel Announces First Generative AI Initiative to Transform Claims and Case Management

By: via GlobeNewswire

FORT WORTH, Texas, May 01, 2023 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) today announced the integration of generative AI into its claims and care solution, launching the next generation in intelligent, efficient claims automation.

With a proven track record for its innovative use of technology, integrated data streams, and person-centered care, the Company is driving to set the industry standard by offering the advantages of generative AI through its award-winning CareMC claims platform. This technology, the latest iteration of CorVel's CogencyIQSM service offerings, will introduce new capabilities to improve efficiencies throughout the claims management process. Leveraging generative AI to automate objective tasks will increase the amount of time adjusters spend interfacing directly with injured workers, which will, ultimately, improve outcomes. At the same time, customers will continue to benefit from CorVel's existing risk management tools which leverage artificial intelligence and predictive analytics to provide insights such as claim and clinical risk scores, litigation avoidance, and severity modeling.

“Generative AI will revolutionize claims administration in the next several years, transforming how insurance companies, third-party administrators, and medical management firms manage claims processing,” said Michael Combs, President and CEO of CorVel. “With these capabilities, we will reach new standards of efficiency, results, and lower costs of risk.”

Generative AI is a subset of artificial intelligence techniques that involve the creation of new content or data using machine learning models. While discriminative AI identifies and classifies existing patterns in data, generative AI creates new patterns and content. Implementation of generative AI functionality for Risk Management will use proprietary, fully segmented data sets.

As CorVel continues to integrate its services with generative AI technologies, benefits will include:

  • Automated tasks to reduce the need for human intervention and speed up the claims processing cycle. For instance, generative AI can summarize medical documents, extract keywords, answer specific questions, and bring overlooked items to the attention of adjusters or nurses.

  • AI technologies can learn from past claims and generate new information that matches established patterns, thereby reducing the workload of claims administrators and enabling faster claim closures. Additionally, analyzing claim data can help identify potential fraud cases by detecting patterns and anomalies.

  • AI-powered chatbots can enhance customer service and engagement by answering queries and providing support throughout the claims process. For example, they can offer a claim overview, explain benefits, and provide status updates using natural language processing.

  • AI can help increase the retention of valued employees by making their work more meaningful and person-centered, boosting job satisfaction and engagement.

For more information, visit https://www.corvel.com/technology

About CorVel

CorVel Corp. applies technology, including artificial intelligence, machine learning, and natural language processing, to enhance the management of episodes of care and the related health care costs. We partner with employers, third-party administrators, insurance companies, and government agencies in managing workers’ 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 claims management and 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, 2022 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.

Contact: Melissa Storan
Phone: 949-851-1473
www.corvel.com

Primary Logo

More News

View More
Could Target’s Week of Discounts Come Full Circle for Investors?
Via MarketBeat
Topics Economy
Tickers AAPL GE TGT WMT
3 Reasons to Buy Sprouts Farmers Market Ahead of Earnings
Via MarketBeat
Tickers SFM
Bassett Furniture: Buy Now, Sit Back, and Collect Dividends
Via MarketBeat
Tickers BSET ETD HVT
AST SpaceMobile's Big Win: Shares Soar on New Deal With Verizon
Via MarketBeat
Tickers ASTS JOBY RGTI T VOD VZ
Catch the Next Bitcoin Rally With These 3 ETFs
Via MarketBeat
Topics ETFs
Tickers BITQ FBTC IBIT
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.