Healthcare Fraud Detection Market Study by Fraud, Waste and Abuse Healthcare Spending on Insurance Claim, Prepay and Post Payment to 2022 - Top Trends, key Insights, Forecast, Company Profiles and Analysis

The study estimates the healthcare fraud detection market size for 2017 and projects its demand till 2022. Download Study Papers of Healthcare Fraud Detection Market Study Now available at https://www.reportsnreports.com/contacts/requestsample.aspx?name=1282924 .

The healthcare fraud detection market is expected to reach USD 2,242.7 Million by 2022 from USD 504.4 Million in 2016, at a CAGR of 28.9%. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. The National Health Care Anti-fraud Association (US) estimated that 3% of the healthcare spending, around USD 60 billion is spent on healthcare fraud in the US. Along with this, identity theft is another major problem that has victimized around 1.5 million people in the US. The average cost incurred by a victim due to medical identity theft is around USD 20,000.

North America is expected to account for largest share of healthcare fraud detection market followed by Europe. Factors like increase in number of people seeking health insurance, increasing cases of healthcare fraud, favorable government initiatives to combat healthcare fraud, rising pressure to reduce healthcare costs, technological advancements, & greater product & service availability in this region are expected to drive market growth in North America.

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The healthcare fraud detection market is segmented into descriptive, predictive, and prescriptive analytics. The prescriptive analytics segment is expected grow at a highest CAGR during the forecast period. The high growth of this segment is attributed to the ability of prescriptive analytics to ensure the synergistic integration of predictions and prescriptions.

Target Audience for this Report:
• Healthcare IT firms
• Healthcare analytics vendors
• Healthcare payers
• Venture capitalists
• Research and consulting firms
• Healthcare fraud detection service providers

Healthcare fraud detection market highly competitive with the presence of various players. Some of the major players operating in market include IBM (US), Optum (US), SAS (US), McKesson (US), SCIO (US), Verscend (US), Wipro (India), Conduent (US), HCL (India), CGI (Canada), DXC (US), Northrop Grumman (US), LexisNexis (US), and Pondera (US).

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Reasons to Purchase the Report -
Market growth can be attributed to the large number of fraudulent activities in healthcare; increasing number of patients seeking health insurance; the prepayment review model; growing pressure of fraud, waste, and abuse on healthcare spending; and high returns on investment.

The healthcare fraud detection market has been segmented, on the basis of component, into services and software. The services segment is expected to register highest growth rate over the forecast period. The healthcare fraud detection market in North America is expected to grow at the highest CAGR during the forecast period.

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