US Healthcare Fraud Analytics Market is Estimated to Grow with a CAGR of 27.4% from 2020-2027

The healthcare industry is undergoing rapid transformations since a few years now. Various technological improvements have been witnessed in the segments including diagnosis and treatment options for chronic diseases. The increase in incidences of chronic illnesses and the increasing ageing population are the primary factors fuelling the growth of healthcare segment.

The US Healthcare Fraud Analytics market is growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.

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Market Insights

Increasing Number of Healthcare Fraudulent Cases in the US

Most of the healthcare frauds are committed by the small number of fraudulent healthcare providers, and in some cases, by people who are pretending to be legitimate healthcare providers. Unfortunately, the actions of these few deceitful individuals ultimately harms the reputation of the most trusted and respected healthcare professionals. The number of healthcare frauds is increasing in the US. The Department of Justice (DoJ) in January 2019, announced that around US$2.5 billion of the total US$2.8 billion were recovered under the False Claims Act in the US. The most significant monetary recoveries in the year 2018 were from medical device and drug industries. Also, the National Health Care Anti-Fraud Association (NHCAA) estimated that every year, losses due to healthcare frauds are in the tens of billions of dollars. Some government and law enforcement agencies also estimated that healthcare frauds cost around 10% of the total annual health expenditure, which could be around US$ 300 billion. Thus, an increasing number of fraudulent healthcare cases is likely to demand healthcare fraud analytics solutions.These factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for US Healthcare Fraud Analytics in the market.

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US Healthcare Fraud Analytics – MARKET SEGMENTATION

US Healthcare Fraud Analytics Market – By Solution

  • Predictive Analytics
  • Descriptive Analytics
  • Prescriptive Analytics

US Healthcare Fraud Analytics Market – By Mode of Delivery

  • On-Premise Delivery Models
  • Cloud Based Delivery Models

US Healthcare Fraud Analytics Market – By Application

  • Insurance Claims Review
  • Pharmacy Billing Misuse
  • Payment Integrity
  • Identity Theft
  • Other Applications

Companies Mentioned

  • Conduent Inc.
  • DXC Technology
  • Scioinspire, Corp.
  • FICO
  • Optum, Inc.
  • SAS Institute
  • Pondera Solutions
  • Lexisnexis Risk Solutions
  • Whitehatai
  • Cotiviti, Inc

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