Lyric and Codoxo Announce Strategic Partnership to Bring AI-Driven Payment Integrity Solutions that Deliver Increased Savings
Lyric to offer Codoxo’s innovative solutions to customers via the LyricIQ ecosystem enabling simple integration and quicker speed to value
Lyric, an AI-first leader in payment accuracy, and Codoxo, a leader in AI-based cost containment, have announced a strategic partnership designed to enhance payment integrity and transparency. This collaboration will bring Codoxo’s innovative payment integrity solutions that leverage generative AI technology to Lyric’s extensive network of customers via the LyricIQ platform to enable ease of implementation, increasing the time to realizing savings while eliminating waste in the payment accuracy process.
"Our partnership with Codoxo exemplifies our commitment to bring best-in-class solutions to our customers," said Rajeev Ronanki, Lyric’s Chief Executive Officer. "We’re proud to partner with Codoxo in our efforts to ensure accurate payment integrity and remove fraud, waste, and abuse from the healthcare system.”
With this partnership, Lyric will offer Codoxo’s ClaimPilot, Audit Scope, Payment Scope, Provider Scope, and Fraud Scope to Lyric customers via LyricIQ, Lyric’s AIaaS offering that harnesses the power of artificial intelligence (AI), machine learning, and predictive modeling to redefine payment accuracy processes for health plan payers. This offering will significantly improve savings while drastically reducing the timeline for data review, collection, and realization of savings, transforming years and months into mere weeks.
“By teaming with Lyric, we are helping the industry accelerate the adoption of generative AI capabilities to ensure accurate payments and deliver increased savings. Health plans now have the opportunity to move toward a future of zero-touch payment integrity with innovation from Codoxo that brings significant automation to cost containment processes,” said Dr. Musheer Ahmed, CEO and Founder of Codoxo. “Codoxo’s solutions perfectly complement Lyric's AI-based payment accuracy solutions, making this partnership a leap forward for the industry.”
About Lyric
Lyric, formerly ClaimsXten, is a leading AI healthcare technology company, committed to simplifying the business of care. Over 30 years of experience, dedicated, expert teams, and top technologies help deliver up to $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 is investing in AI driven technology to ease implementation and speed to value for customer savings, while offering enhanced and newly available solutions through internal product development and strategic partnerships, including recently announced partnerships with Concert Genetics, Autonomize AI, and now, Codoxo. Discover more at Lyric.ai.
About Codoxo
With a mission to make healthcare more affordable and effective for everyone, Codoxo is the premier provider of artificial intelligence-driven solutions and services that help healthcare companies and agencies proactively detect and reduce risks from fraud, waste, and abuse and ensure payment integrity. The Codoxo Unified Cost Containment Platform helps clients manage costs across payment integrity, provider coding and billing, special investigation units, clinical care and network management. Our software-as-a-service applications and new generative AI capabilities are built on our proven Forensic AI Engine, which uses patented AI-based technology to identify payment inaccuracies faster and earlier than traditional techniques. Codoxo is a Fierce Healthcare Innovation Award winner and has been recognized by the Inc. 5000 National list for growth. Our solutions are HIPAA-compliant and operate in a HITRUST-certified environment. For additional information, visit https://www.codoxo.com/.
