Healthcare Fraud Analysis Market Size Worth $ 24,160.88
Jersey City, New Jersey, November 16, 2021 (GLOBE NEWSWIRE) – Verified Market Research recently published a report, “Healthcare Fraud Analysis Market”By type of solution (descriptive analytics, predictive analytics and prescriptive analytics), by application (review of insurance claims, abuse of pharmacy billing, payment integrity) and by geography. According to Verified Market Research, the global healthcare fraud analysis market size was valued at $ 5,116.61 million in 2020 and is expected to reach $ 24,160.88 million by 2028, with a CAGR 20.95% from 2021 to 2028.
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Browse the table of contents in depth to “Healthcare Fraud Analysis Market“
202 – Pages
126 – Tables
37 – Figures
Global Healthcare Fraud Analysis Market Overview
The healthcare fraud analysis market is growing at a steady pace, mainly due to the increasing number of people choosing health insurance. Health insurance provides coverage for the financial expenses necessary to treat various medical conditions, injuries, mental and physical injuries. The demand for health insurance increases as it offsets the medical expenses demanded by the payer by providing health benefits in return for a monthly / semi-annual / annual premium or payroll tax. The increase in insurance fraud by claimants, policyholders, third party claimants, and healthcare professionals for monetary benefits promotes the need for analytics for a smooth and seamless insurance process. The increase in insurance fraud has resulted in massive financial losses every year. According to the National Health Care Anti-Fraud Association in the United States, healthcare fraud could cost up to $ 300 billion in 2018. As the number of cases of healthcare fraud increases in Globally, the demand for healthcare fraud analysis is also increasing.
Market growth is expected to be propelled due to increased spending in the healthcare sector by the potential population. Changing customer preferences, increasing investment in health infrastructure development, and developing patient demographics are driving the market growth. The increasing prevalence of chronic diseases and epidemic infections and the growing geriatric population, which is vulnerable to diseases and disorders, are pushing the demand for health insurance. This, in turn, exacerbates the risks of healthcare fraud, pushing the growth of the market. However, the growth of the market is hampered mainly due to a limited skilled workforce to use the features and fraud analysis, the higher cost of deployment, especially for small and medium enterprises, and the growing risk of data security.
The main players in the market are IBM, Optum Inc., SAS Institute Inc., Change Healthcare, EXL Service, Cotiviti, Conduent, Inc., Hindustan Computers Limited Technologies Limited, CGI Inc.
Verified market research segmented the global healthcare fraud analysis market on the basis of solution type, application, and geography.
- Healthcare Fraud Analysis Market, By Solution Type
- Descriptive analysis
- Predictive analytics
- Prescriptive analysis
- Healthcare Fraud Analysis Market, By Application
- Review of insurance claims
- Misuse of pharmacy billing
- Integrity of payment
- Healthcare Fraud Analysis Market By Geography
- North America
- The rest of europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
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Top 10 Healthcare Data Analytics Companies following the “Big Data” megatrend
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