Healthcare Fraud Analytics Market Research Report On Impact of COVID-19 : By Conduent, DXC Technology, Scioinspire, Corp., FICO, Optum, SAS Institute, Pondera Solutions, Lexisnexis Risk Solutions, Whitehatai, and Cotiviti, among others.

Healthcare Fraud Analytics Market research added by the insight partners offers a comprehensive analysis of growth trends prevailing in the global business domain. This report also provides definitive data concerning market, size, commercialization aspects and revenue forecast of the Healthcare Fraud Analytics industry. In addition, the study explicitly highlights the competitive status of key players within the projection timeline while focusing on their portfolio and regional expansion endeavours.

This report on Healthcare Fraud Analytics Market delivers an in-depth analysis that also comprises an elaborate assessment of this business. Also, segments of the Healthcare Fraud Analytics Market have been evidently elucidated in this study, in addition to a basic overview pertaining to the market’s current status as well as size, with respect to the profit and volume parameters. The study is ubiquitous of the major insights related to the regional spectrum of this vertical as well as the companies that have effectively gained a commendable status in the Healthcare Fraud Analytics Market.

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According to The Insight Partners market research study of ‘Healthcare fraud analytics Market to 2027 – Global Analysis and Forecasts by Solution, Mode of Delivery, Application and End User.’ The global healthcare fraud analytics market is expected to reach US$ 8,707.73 Mn in 2027 from US$ 1,331.09 Mn in 2019. The market is estimated to grow with a CAGR of 27.0% from 2020-2027. The report provides trends prevailing in the global Healthcare fraud analytics Market and the factors driving market along with those that act as hindrances.

Market Insights

Rising Number of Healthcare Fraudulent Cases across the Globe

Healthcare fraud is an illicit line of work which is committed by small minority of dishonest health care providers and organized crime groups. The healthcare fraud includes health insurance fraud, drug fraud, prescription drug diversion medical identification theft and others.

As per the Global Health Care Anti-Fraud Network, each year approximately US$ 260 billion (180 billion euros) or about 6 percent of the global total health care expenditure is lost to fraud. This amount is equal to the GDP of a country like Finland or Malaysia.

There are groups who have conducted frauds in government-sponsored health programs, private health insurers and the property and casualty insurers. For instance the Armenian Power Organized Crime Group operated a medical clinic in Miami and paid individuals to refer patients of staged accidents and billing private insurance carriers for treatments that were not necessary or for treatments that was no provided.

Furthermore, Annual healthcare spending across the European Union is around one trillion Euros. However, European Healthcare Fraud and Corruption Network (EHFCN) estimated that every year, around 56 billion Euros are lost due to healthcare fraud and corruption.

Additionally, healthcare frauds are also identified and detected in Asia Pacific region. Fraudulent dispensing is seen to be increasing in Japanese pharmacies. For instance, in June 2019, one of the major Japanese drug wholesaler Alfresa Holdings Corp. found fraudulent billing for dispensing fees at a pharmacy operated by its subsidiary.

Major Players Included in Healthcare Fraud Analytics report are as follows

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

The report segments global healthcare fraud analytics market as follows:

Global Healthcare Fraud Analytics Market – By Solution

Predictive Analytics
Descriptive Analytics
Prescriptive Analytics

Global Healthcare Fraud Analytics Market – By Mode of Delivery

On-Premise Delivery Models
Cloud Based Delivery Models

Global Healthcare Fraud Analytics Market – By Application

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

Healthcare Fraud Analytics Market: Regional analysis includes:

Asia-Pacific(Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
Europe(Turkey, Germany, Russia UK, Italy, France, etc.)
North America(the United States, Mexico, and Canada.)
South America(Brazil etc.)
The Middle East and Africa(GCC Countries and Egypt.)

Healthcare Fraud Analytics Market: Competitive Landscape-

Analysts have thoroughly evaluated the competitive landscape in the Healthcare Fraud Analytics Market. The report includes the study of key players in the Healthcare Fraud Analytics Market. It also outlines the strategic initiatives companies have taken in recent years to keep pace with increasing competition. It also includes an assessment of the financial perspectives of these companies, their research and development plans, and their future business strategies.

Healthcare Fraud Analytics Market: Drivers and Restraints-

The comprehensive market assessment of Healthcare Fraud Analytics contains a complete explanation of the controls available on the market. Analysts have studied investment in research and development, the impact of changing economies, and consumer behaviour to determine the factors that will drive the market in general. In addition, analysts have attempted to take into account changes in manufacturing and industrial operations that determine product sales in the Healthcare Fraud Analytics Market.
This chapter also explains the possible restrictions on the Healthcare Fraud Analytics Market. Assess the reasons that could hinder market growth. Analysts have assessed growing environmental concerns and fluctuating raw material costs, which are predicted to dampen the spirit of the Healthcare Fraud Analytics Market. However, analysts have also identified potential opportunities that players in the Healthcare Fraud Analytics Market can rely on. The chapter on controls, restrictions, threats and opportunities offers a holistic view of the Healthcare Fraud Analytics Market.

Key Questions Answered

How big will the market for Healthcare Fraud Analytics be in 2027?
What is the current CAGR of the Healthcare Fraud Analytics Market?
Which product is expected to have the highest market growth?
Which application should be used to win a large part of the market for Healthcare Fraud Analytics ?
Which region is likely to offer the most opportunities on the Healthcare Fraud Analytics Market?
Will the market competition change in the forecast period?
Who are the main players currently active in the global Healthcare Fraud Analytics Market?
How will the market situation change within the coming years?
What are the usual commercial tactics for players?
What is the growth perspective of the global Healthcare Fraud Analytics Market?

Answering these types of questions can be very useful for gamers to clear up their doubts as they implement their strategies to grow in the global Healthcare Fraud Analytics Market. The report provides a transparent picture of the actual situation in the global Healthcare Fraud Analytics Market so that companies can work more effectively. It can be tailored to the needs of readers to better understand the global market for Healthcare Fraud Analytics.

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