Lyric Earns High Ratings Payment Accuracy & Integrity Outcomes 2023 Report from KLAS®
KLAS results recognize Lyric as “true partner” and “excellent value for investment,” with a top score for overall customer satisfaction and A+ likelihood to recommend.
Lyric is proud to announce recognition by KLAS Research in the inaugural KLAS Payment Accuracy & Integrity Solutions 2023 Report. The report categorized vendors based on their roles in the payment accuracy and integrity lifecycle: pre-payment, post-payment, and those providing solutions for both phases. The research was conducted over the past 12 months.
In the pre-payment sector, Lyric's performance score was an outstanding 89.6; and it also tied for the top position, specific to customer-rated tangible outcomes. Furthermore, Lyric was one of only two firms recognized in the report as above average as a “true partner” and providing excellent value for their customers’ investment—with 100% of payer respondents stating that they felt Lyric is a definitive part of their long-term business plans. (KLAS Payment Accuracy & Integrity 2023, pg. 7)
Lyric secured grades from A- to A+ across four pivotal customer experience pillars, including company culture, customer loyalty, relationships, and overall product value. KLAS's report also emphasized customers’ views that Lyric offers considerable savings for payer customers, CMS regulation expertise, and impressive results in payment accuracy and integrity. (KLAS Payment Accuracy & Integrity 2023, p.10)
Since the KLAS research was conducted, Lyric—via the leadership of CEO, Raj Ronanki—has redefined its go-forward strategy and vision as an independent company: to simplify the business of care.
Key to Lyric’s success is the swift delivery of technology-driven solutions for customers, including the latest AIaaS offering, LyricIQ. that harnesses the power of artificial intelligence (AI), machine learning, and predictive modeling to redefine payment accuracy processes for health plan payers, bringing a new era of precision and efficiency to the healthcare industry.
With the implementation of LyricIQ’s advanced technological capabilities, the timeline for data review, collection, and realization of savings is drastically reduced, transforming years and months into mere weeks.
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 Codoxo.
About the KLAS findings, Lyric’s Chief Executive Officer, Raj Ronanki shared, “Lyric has been an industry leader for many years, and we’re pleased to see customers take the time to share so many positives, as well as insights we will use as a part of our commitment to enhance and evolve our products and services.”
Chief Operating Officer Carolyn Wukitch added “Trust, loyalty, and being a true ally to our valued customers has always been a top priority for our organization. We are extremely proud of our 99% customer retention rate and the relationships we’ve cultivated. The KLAS Report reflects our deep relationships with our customers.”
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. Discover more at Lyric.ai.
