How this industry leader will be helping to simplify the business of care
A Trusted Solution
Building on over 30 years of excellence and trust, Lyric’s pre-pay claim editing solution has been a valued resource to more than 100 health plans in the U.S. who collectively touch more than 180 million lives. Lyric is an AI-first healthcare technology company that’s heralding a new era in healthcare payment accuracy and integrity through innovation that will improve savings, reduce complexity, improve administrative efficiency, and drive a more positive experience at crossroads of healthcare and fintech.
Our purpose is to help simplify the business of care. And our future innovation will be helping to build “better bridges” between payers and healthcare providers, as well as reduce complexity and improve transparency for key stakeholders—including consumers.
By combining the robust capabilities of our CXT secondary editing with primary editing solutions, we provide maximum impact for payment accuracy programs. The Lyric Knowledge Concept Library offers unparalleled flexibility, allowing customers to select specific rules and policies that align with their program goals. Meanwhile, our KnowledgePacks and genetic test end-to-end solution, are specialized, sourced, and nationally adopted, providing a solid foundation of rules and logic essential for executing payment policies and guidelines.
Boasting over three decades of industry experience, our team’s dedication is reflected in our 91% solutions services rating and a stellar 4.6 out of 5 customer service score. Our performance speaks volumes, with a 99% customer retention rate and annual savings of $12-$14 billion across our customer base. We are the chosen partner for 9 out of 10 of the top payers, underscoring our ability to maximize savings and ensure payment accuracy.
The Evolution of Payment Integrity
LyricIQ, our AI-powered payment accuracy platform streamlines the data evaluation process through secure integration, swiftly identifying claims trends and predictive models for comprehensive review. Through AI-generated insights and the expertise of our data scientists and clinical professionals, our organization offers potential for significant payment error reductions and cost savings, transforming the payment integrity process from months to weeks. Via Lyric IQ, we’ll launch new Lyric-built technology as well as offer solutions from strategic partners that expand our offerings to create a comprehensive end-to-end payment accuracy and integrity solution.
Responsible AI: The Core of Our Evolution
Our commitment to responsible use of AI and technology is unwavering. Our goal is development, deployment, use, and monitoring that utilizes principles and benchmarks focusing on responsibility, ethics, bias, fairness, and keeping humans “in the loop” as the ultimate decisionmakers.
To Road Ahead: Simplifying the Business of Care
As we forge into the future, Lyric will continue to be the transformative force in healthcare payment accuracy, integrity, and transparency. Our blend of legacy, innovation, and ethical AI positions us uniquely at the forefront of the industry. We’re not just optimizing healthcare payment accuracy & integrity; we’re redefining it with an AI-platform and partnerships whose added capabilities promise customers greater savings, improved efficiency, and reduced fraud, waste and abuse, while helping simplify the business of care for all stakeholders – including today’s health consumers.
