At the end of April, ClaimsXten Portfolio, the market leader in claims modification solutions, became Lyric, with the aim of simplifying the assistance business. Strategic partnership announced today combines Lyric’s market-leading statement editing solution with Concert Genetics machine learning models and proprietary genetic testing market data and will help address pain points for health plans and consumers in the space highly complex genetic testing.
PHILADELPHIA, June 7, 2023 /PRNewswire-PRWeb/ –Partnership with Concert Genetics to Leverage Proprietary Data and Machine Learning to Maximize Claims Payment Accuracy–
Lyric, formerly ClaimsXten Portfolio, has partnered with Concert Genetics (Concert), a leader in end-to-end genetic testing management, to provide solutions to health plan payers seeking to maximize payment accuracy for genetic test claims .
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“Our partnership will bring together machine learning models and proprietary market data,” said Lyric CEO Rajeev Ronanki. “By combining the power of our market-leading editing solution with Concert’s market-leading end-to-end genetic testing edits, we are eliminating complexity in the ever-evolving genetic testing space.”
Adding genetic testing content to Lyric’s payment accuracy offering will help address a costly challenge for health plans and their members, as it is nearly impossible to achieve consistent payment decisions when frequently ordered genetic tests are billed using numerous codes in potentially thousands of combinations., The number of tests, the scope of clinical applications and associated clinical trials are increasing, which can pose a challenge for healthcare professionals and insurers. As a result, the payer, provider and patient experience is often fragmented and frustrating, potentially limiting access to clinically appropriate testing.
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“This partnership is just one example of Lyric’s vision to simplify the support business. We will continue to expand our expertise and innovation, while also forming strategic partnerships with other industry-leading subject matter experts to bring added value to our clients, while minimizing while speed to market. The resulting solution will be a comprehensive playlist of options that best meet the unique needs of our customers,” Ronanki explained.
“Concert Genetics is moving toward a vision where information about genetic testing, including coverage and cost, is readily available at the point of care to support informed clinical decisions and convenient access for patients,” said Rob Metcalf, CEO of Concert Genetics. “We are delighted to partner with Lyric, an organization that is aligned with this vision and deploys the technical infrastructure to link information through to reimbursement decisions.”
For more information on the new genetic testing edit form, please visit: www.lyrichealth.com/lyric-concert-genetics
Healthcare is complex. When code, transactions and small complexities can lead to big problems and costly errors, transparency is more important than ever.
Lyric combines a flexible software rule engine with a comprehensive library of clinical content to help health plans meet policy management needs and pay claims right the first time. The company’s advanced editing framework effectively enforces health plan, government and industry policy on near real-time demand with interoperability designed and built to accommodate a plan’s mix of products, network infrastructure, and growth. Lyric’s comprehensive product suite includes primary and secondary editing, content and policy management, and other analytics services and solutions.
We’re changing the tone of transparency by simplifying the care business. Visit us at: www.lyrichealth.com to learn more about us.
About concert genetics
Concert Genetics is a managed services and software company advancing health by providing the digital infrastructure for reliable and efficient management of genetic testing and precision medicine. Concert’s genetic testing management capabilities leverage a proprietary US market database of clinical genetic testing, market-leading expertise, and a technology platform that supports the ordering, results, coding, coverage, and payment integrity of genetic tests. The following links provide more information on the Concertcoding Standards, Clinical Criteria, and GTU Test ID. Learn more at www.concertgenetics.com.
Concert Genetics 2022 Genetic Test Price Transparency Reporthttps://www.concertgenetics.com/resources/2022-genetic-test-price-transparency-report/
Concert Genetics 2019 Coding variability in
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“This partnership is just one example of Lyric’s vision to simplify the care business. We will broaden our experience and innovation, building partnerships that will result in a comprehensive playlist of options that best meet our customers’ needs,” CEO of Lyric explained Raj Ronanki.
Contact with the media
Amy Churchill, Lyric, 1 7248414450, email@example.com, www.lyrichealth.com
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