Company: CRD-A
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030894
Chunk: 54

Company: CRAWFORD & CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 54
---
4.6%, which had minimal revenues associated with them. Revenues were positively impacted by a $2.7 million increase within our Claims Management service line related to income earned which offsets the costs of managing the funds maintained to administer claims for our customers, for which no cases are received, or 0.8% of the increase in revenues. There was also an $8.0 million increase in revenues within our Medical Management service line for which no cases are received, or 2.2% of the increase in revenues. Changes in product mix and in the rates charged for those services accounted for a 1.1% revenue increase for 2024 as compared with 2023. 

Revenue variance components for our Broadspire segment for the year ended December 31, 2024 are summarized as follows:

    2024 Period compared to 2023 Period Ending:
     
    December 31

    Increase in cases received
     
    0.4%

    Reduction in disability cases within claims management due to prior year takeover cases for two specific clients
     
    4.6%

    Increase in claims management revenues with no cases received
     
    0.8%

    Increase in medical management revenues with no cases received
     
    2.2%

    Change in product mix and rates
     
    1.1%

    Increase in Revenues before Reimbursements
     
    9.1%

29

Reimbursed Expenses Included in Total Revenues

Reimbursements for out-of-pocket expenses incurred in our Broadspire segment which are included in total Company revenue increased to $3.5 million in 2024 from $3.3 million in 2023. The increase in reimbursed expenses in the 2024 period was primarily due to the increased revenues in the current year.

Case Volume Analysis

Broadspire unit volumes by service line, as measured by cases received, for 2024 and 2023 were as follows:

    Year Ended December 31,
     
    2024

    2023

    Variance

    Claims Management

    381,596

    397,010

    (3.9
    )%

    Medical Management

    163,364

    145,822

    12.0
    %

    Total Broadspire Cases Received

    544,960

    542,832

    0.4
    %