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Lyric and Concert Expand Partnership to Deliver Laboratory Payment Accuracy Solution

7Newswire

PHILADELPHIAMay 1, 2024 /7Newswire — 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 editingbased on its integrated payment policy and medical policy contentthrough 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

SOURCE Lyric