The Diagnostics Module—available through
Lyric's expanded partnership with Concert—will seamlessly deliver
Concert's integrated policy and payment accuracy capabilities for a
growing scope of laboratory testing
PHILADELPHIA, May 1, 2024 /PRNewswire/ -- Lyric, an
AI-first leader in payment accuracy, has expanded its partnership
with Concert to deliver payment accuracy across a rapidly expanding
set of advanced and routine laboratory tests, the companies
announced today.
The Diagnostics Module, formerly known as the Genetic Testing
Module, will expand to address outpatient infectious disease
testing, which has become the largest area of outpatient lab spend
for many health plans, due to the increases in testing during the
COVID-19 pandemic. Together, Concert and Lyric will deliver a
technology solution for laboratory payment accuracy that is
transparent, reduces the chance for errors, and is minimally
abrasive.
"Managing the growth and complexity of laboratory testing is a
top priority for many of our health plan customers," said Lyric CEO
Rajeev Ronanki. "Combining Lyric's
market-leading payment accuracy capabilities with Concert's data,
clinical policies, and AI-powered edits will deliver unparalleled
accuracy for our customers and aligns with our strategy to bring
best-in-class partner solutions to customers via Lyric's
technology."
The solution will deliver Concert's claim editing—based
on its integrated payment policy and medical policy
content—through a seamless customer experience. The
companies expect to continue to expand this solution to a
broadening set of laboratory testing, delivering a level of
transparency and accuracy not available from others on the
market.
"Concert is rapidly deploying solutions to enable transparency,
efficiency, and value in precision health services, including
diagnostics and therapeutics," said Concert CEO Rob Metcalf.
"Partnering with Lyric makes these solutions available to customers
where they want them, in a solution they use and trust, with
minimal implementation and maintenance effort required. The
ultimate beneficiary is the health consumer who can access
precision healthcare at lower costs."
Lyric and Concert first partnered in 2023 to deliver an
integrated genetic test management solution. The expanded
Diagnostics Module is expected to be available to customers in
summer 2024.
About Lyric:
Lyric is a leading AI-first healthcare technology company,
committed to simplifying the business of care. Over 35 years of
experience, dedicated teams, and top technology help deliver more
than $14 billion of annual savings to
our many loyal and valued customers—including 9 of the top 10
payers across the country. Lyric's solutions leverage the power of
machine learning, AI, and predictive analytics to empower health
plan payers with pathways to increased accuracy and efficiency,
while maximizing value and savings. Lyric's strong relationships as
a trusted ally to customers resulted in recognition from KLAS as
"true partner" and "excellent value for investment," with a top
score for overall customer satisfaction and A+ likelihood to
recommend in their October 2023
Payment Integrity and Accuracy Report. Discover more
at Lyric.ai.
About Concert
Concert is a healthcare technology
company enabling cost-effective access to diagnostics and
therapeutics by harmonizing evidence, policy, and payment. Founded
in 2010 to bring transparency and efficiency to genetic testing,
Concert now offers the definitive precision health payment accuracy
platform. The company combines proprietary market data, clinical
and coding expertise, and patented technology to support diagnostic
test ordering, resulting, coding, coverage, claim editing, and
payment integrity. Concert Genetics now operates by its abbreviated
name, Concert. For more information, visit www.concert.co.
Amy Churchill
amy.churchill@lyric.ai
(724) 841-4450
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SOURCE Lyric