Healthcare Fraud Detection Market Growth, Trends, Global Key Players and Forecast 2022-2027

According to the latest report by IMARC Group, "Global Healthcare Fraud Detection Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027", the global healthcare fraud detection market reached a value of US$ 1.58 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.44 Billion by 2027, exhibiting a CAGR of 24.20% during 2022-2027.

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Healthcare fraud detection assists in ascertaining and averting healthcare waste, fraud and abuse at every stage of the claim process and reducing improper payments. It associates prevailing payment integrity solutions and merges data from internal and external sources for efficient data management, such as watch lists, unstructured texts, claim systems and third parties. It depends on several advanced analytic and artificial learning (AI) techniques, along with machine learning (ML), text analytics algorithms and deep learning. It utilizes a pliable procedure to assist clinical, investigative and operational evaluations and store all appropriate case information.

Market Trends and Drivers:

One of the key factors driving the market is the surging number of healthcare patients seeking health insurance. Additionally, the rising adoption of the prepayment review model in the healthcare industry and the growing number of pharmacy claims-related frauds are propelling the market growth.

Besides this, the growing need for solutions with biometric sensors to identify frauds, rapid adoption of healthcare fraud analytics and the increasing indulgence of artificial intelligence (AI) in healthcare fraud detection is catalyzing the market growth. In line with this, governments of various nations are taking initiatives to evaluate healthcare insurance claims, which is creating a positive market outlook. Other growth-inducing factors include the growing healthcare industry, rising returns on investment (ROI), and increasing usage of social media.

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Healthcare Fraud Detection Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global healthcare fraud detection market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• CGI Inc.
• International Business Machines Corporation
• Northrop Grumman Corporation
• RELX Group plc
• Conduent Inc.
• ExlService Holdings Inc.
• Fair Isaac Corporation
• HCL Technologies Limited
• SAS Institute Inc.
• UnitedHealth Group
• Wipro Ltd.

Key Market Segmentation:

The report has segmented the global healthcare fraud detection market based on component, type, delivery mode, application, end user and region.

Breakup by Component:
• Software
• Services

Breakup by Type:
• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics

Breakup by Delivery Mode:
• On-premises
• On-demand

Breakup by Application:
• Insurance Claims Review
• Payment Integrity

Breakup by End User:
• Private Insurance Payers
• Government Agencies
• Others

Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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