Healthcare Fraud Detection Market 2023 - Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Healthcare Fraud Detection Global Market Report 2023 identifies rise in fraudulent events in the healthcare industry as the major driver for the healthcare fraud detection market's growth in the forecast period. Fraudulent events in healthcare refer to the deliberate misrepresentation of patient data and insurance information in order to obtain an unfair or illegal gain or to deprive a user of a legal right. For instance, in 2021, the Department of Justice (DOJ) opened 831 new criminal health care fraud investigations. Moreover, in 2021, DOJ opned 805 new civil health care fraud investigations. According to data published by the United States Sentencing Commission, a US-based agency that articulates sentencing guidelines, in August 2022, 336 health care fraud offenders were identified in fiscal year 2021, making up 8.0% of total theft, property damage, and fraud charges.

The global healthcare fraud detection market size is expected to grow from $2.16 billion in 2022 to $2.80 billion in 2023 at a compound annual growth rate (CAGR) of 29.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare fraud detection market size is expected to reach $7.74 billion in 2027 at a CAGR of 28.9%.

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Major competitors in the healthcare fraud detection market are Business Machines Corporation, Cotiviti Inc., Fair Isaac and Company, SAS Institute, CGI Inc., DXC Technology, RELX Group plc, EXL Service Holdings Inc., HCL Technologies.

A key trend in the healthcare fraud detection market includes adoption of advanced analytics tools. Major players are concentrating their efforts on creating innovative technologies to sustain their position in the healthcare fraud detection market. For instance, in January 2022, Premier, Inc., a US-based healthcare technology company, launched "INSights" based on PINC AITM technology. Insights is a vendor-neutral analytics platform that has access to the risk-adjusted, standardised, and cleaned healthcare data from PINC AITM. Insights is designed for healthcare providers to lower the workload associated with data preparation and analytics development for quick gains in clinical, quality, and financial outcomes.

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The healthcare fraud detection market is segmented -
1) By Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics

2) By Model: On-premise Delivery, On-demand Delivery

3) By Component: Services, Software

4) By Application: Insurance Claims Review, Payment Integrity

5) By End User: Healthcare Payers, Government Agencies, Other end-users

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the healthcare fraud detection market.

The Business Research Company's "Global Healthcare Fraud Detection Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Healthcare Fraud Detection Market Include:
1. Executive Summary
2. Healthcare Fraud Detection Market Characteristics
3. Healthcare Fraud Detection Market Trends And Strategies
4. Healthcare Fraud Detection Market - Macro Economic Scenario
5. Healthcare Fraud Detection Market Size And Growth
……..
26. Africa Healthcare Fraud Detection Market
27. Healthcare Fraud Detection Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Healthcare Fraud Detection Market
29. Healthcare Fraud Detection Market Future Outlook and Potential Analysis
30. Appendix

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