Lyric Unveils New Coordination of Benefits Solutions
Lyric, a leader in technology-first payment integrity, has launched a new set of coordination of benefits (COB) solutions. The effort is part of the company’s ongoing push to improve payment accuracy, especially for complex plans that include Medicare-eligible members. The launch builds on a strategic partnership with Strout, a firm recognized for deep Medicare COB expertise.
Improving Payment Accuracy, Together
The first phase of this offering targets the payment errors that arise when people are covered by more than one health plan. Those mistakes—often between Medicare and an employer-sponsored plan—can translate into unexpected out-of-pocket bills for patients. They also tend to surface late, long after services are rendered, which drives avoidable costs across the system.
Stacey Stabenow, President of Strout, emphasizes the significance of this collaboration: "With more than a quarter of Medicare beneficiaries covered by another health plan, having a clear understanding of payment primacy is essential to reducing costs and improving the efficiency of healthcare services. Together with Lyric, we focus on alleviating the financial burdens faced by vulnerable patients and the plans serving them. This partnership is designed to create a more streamlined and cost-effective healthcare experience for all parties involved."
Lyric’s Vision: Make the Business of Care Simpler
Rajeev Ronanki, CEO of Lyric, underlines the strategic importance of this partnership, stating, "This collaboration with Strout aligns perfectly with our vision of simplifying the business of care. Strout has revolutionized the coordination of benefits process by integrating AI-driven solutions that enhance payment accuracy. Together, we will tackle these pressing challenges with unprecedented effectiveness and efficiency. This will transform the way healthcare payments are managed, moving from reactive auditing to proactive real-time solutions."
About Lyric and Its Commitment
Lyric, previously known as ClaimsXten, is an influential player in healthcare technology with more than 35 years of experience. Using advanced technology, Lyric helps clients save over $14 billion each year. The company supports many leading health plans and reaches more than 185 million covered lives—evidence of its scale and focus on making claims payments more accurate and efficient.
Lyric has also been recognized for strong value and customer satisfaction in recent reports. Its partnerships and product innovations are geared toward improving efficiency and accuracy in claims payments without adding friction for plans or members.
Investing in Advanced Technologies
To strengthen its offerings, Lyric is investing heavily in AI-driven capabilities. These tools streamline implementation, shorten time to value, and help clients recognize savings sooner as new solutions and enhancements roll out.
About Strout
Strout is the market leader in Coordination of Benefits (COB) payment accuracy, drawing on more than three decades of experience. The company addresses complex healthcare regulatory challenges and provides innovative solutions to health plans and administrators, serving over 100 million members in various capacities.
With a consistent focus on quality and outcomes, Strout remains a key partner in the healthcare ecosystem, advancing efficiency and accuracy in COB processes.
Looking Ahead
Lyric and Strout are positioned to make meaningful progress in healthcare payment integrity. By tackling long-standing COB issues head-on—who pays first, who pays next—they aim to reduce errors, lower costs, and ease the burden on providers and patients alike.
Frequently Asked Questions
What is coordination of benefits (COB)?
COB is the process health plans use when someone has more than one plan. It clarifies which plan pays first and which pays next so claims are billed correctly and payment errors are reduced.
Why is Lyric launching these COB solutions now?
The solutions support Lyric’s focus on payment accuracy for complex coverage, including Medicare-eligible members. They address common errors that occur with overlapping coverage and help prevent unexpected costs for patients.
What role does Strout play in this partnership?
Strout brings extensive Medicare COB expertise and AI-driven methods to improve payment accuracy. Partnering with Lyric, the two organizations aim to streamline processes and reduce costs for plans, providers, and patients.
How does this help health plans and members?
Accurate coordination of who pays first leads to fewer billing mistakes, fewer delayed corrections, and lower administrative costs. For members, that can mean fewer surprise bills and a smoother experience.
How is this different from traditional claim audits?
Instead of relying mainly on after-the-fact audits, Lyric’s approach aims to support real-time, proactive accuracy—catching issues earlier so payments are made correctly the first time.
