67 WALL STREET, New York - June 6, 2014 - The Wall Street Transcript has just published its Insurance Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Low Profitability and Low Interest Rates - Commercial Line Brokers and Underwriters - Consolidation Trends - Emerging Market Expansion - Analysis Of Personal, Commercial & Reinsurance Subsectors
Companies include: CorVel Corp. (CRVL) and many more.
In the following excerpt from the Insurance Report, the Chairman and CEO of CorVel Corporation (CRVL) discusses company strategy and the outlook for this vital industry:
TWST: Can you elaborate on that last point? How is the Affordable Care Act impacting your business, and how do you see it impacting the company over the next several years?
Mr. Clemmons: Yes, the Affordable Care Act puts pressure on several segments of the health market, and we can divide that up between the private sector, the Medicare sector and Medicaid, and then again, each of the Medicaid and Medicare markets are serviced both directly by a government agency as well as by private carriers working on behalf of the government program. So there are a number of segments within that market. And it is perhaps in total maybe 20 times the size of the workers' compensation market in which we built our original business. So it's a substantial market, obviously, compared to what we've been accustomed to.
Many things changed with the Affordable Care Act, but one of them was that there is a pressure now on everyone - whether it's government or private insuring health care - to try to reduce their cost, and that has raised interest in programs that are directed at that. We have a specialty hospital bill review service that has somewhat proprietary aspects to it, and it has been a particular interest in this market. So there's been increased need for that kind of program, and as a result, we've seen interest from pretty much all the sectors of the regular health care market.
TWST: What IT industry trends as well as developments within your customers' businesses are creating opportunities and/or obstacles for you?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.