US Healthcare Fraud Analytics Market is expected to reach US$ 3483.12 Million by 2027 with CAGR of 27.4%.

Health care fraud is a type of white-collar crime that involves the filing of dishonest health care claims in order to turn a profit. Fraudulent health care schemes come in many forms. Healthcare scams include “snake oil” marketing, health insurance scams, drug scams, and medical scams. Health insurance fraud occurs when a company or individual scams an insurance company or government medical program, such as Medicare or an equivalent state program. The US Healthcare Fraud Analytics market is expected to reach US$ 3,483.12 Mn in 2027 from US$ 517.28 Mn in 2019. The market is estimated to grow with a CAGR of 27.4% from 2020-2027.

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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The healthcare industry is susceptible to a wide range of frauds that will lead to financial losses. Healthcare fraud is a large contributor to unnecessary costs and the rise in spending in the US healthcare industry. The financial loss can be declined by deploying artificial intelligence (AI) tools to prevent and detect fraud. AI is capable of analyzing the huge amount of data generated in the healthcare organization and flags the fraud before it starts. The technology is adaptive enough to help tackle fraud at any of its stages. Thus the adoption of AI in healthcare fraud detection is likely to experience the positive outcomes in the coming future.

US healthcare fraud analytics market by product is segmented into predictive analytics, descriptive analytics, and prescriptive analytics. In 2019, the predictive analytics segment held the largest market share of the healthcare fraud analytics market, by product. This segment is also anticipated to dominate the market in 2027 owing analytics detection and identification patterns which are potentially fraudulent and it then develops sets of rules to flag potentially fraudulent claims. Also, the segment is anticipated to witness growth at a significant rate during the forecast period.

These factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for immunochemistry assays in the market.

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US Healthcare Fraud Analytics – Market Segmentation

By Solution
o Predictive Analytics
o Descriptive Analytics
o Prescriptive Analytics

By Mode of Delivery
o On-Premise Delivery Models
o Cloud Based Delivery Models

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

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

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This release was published on openPR.