Healthcare Fraud Detection Market Trends : The Descriptive Analytics Segment Dominated the Market

According to a new report published by Allied Market Research, titled, "Healthcare Fraud Detection Market," The Healthcare fraud detection market was valued at $1.1 billion in 2021, and is estimated to reach $3.6 billion by 2031, growing at a CAGR of 12.6% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/5629

Healthcare fraud encompasses deceptive practices like falsifying medical bills or misrepresenting services, leading to unlawful payments. Detecting such fraud manually is time-consuming, prompting a shift towards automated systems powered by machine learning and data mining. The global healthcare fraud detection market is growing due to increased fraudulent activities, driving demand for advanced analytics tools like variance and percentile calculators, as well as predictive analytics leveraging historical data and AI technologies. Top tools like SAS Advanced Analytics and SAP Analytics Cloud are pivotal in fraud detection.

Prescriptive analytics guides decision-making using data, while cutting-edge fraud identity management software aids in examining massive datasets, bolstering market growth. However, concerns about data security and the impact of the COVID-19 pandemic have disrupted the market, shifting focus away from fraud detection.

Descriptive analytics led the market in 2021, supported by new tools and platforms like Enblick for efficient data sorting. The software segment dominated, driven by the use of various tools like SEON and LexisNexis. Insurance claims review was the primary application due to rampant fraudulence, with healthcare payers leading the end-user segment. North America held the largest market share due to advanced software availability and high fraud cases in countries like the U.S. and Mexico.

𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭- https://www.alliedmarketresearch.com/connect-to-analyst/5629

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
CGI Group
Conduent
DXC Technology Company
EXLSERVICE Holdings Inc.
Fair ISAAC Corporation
HCL Technologies
International Business Machines Corporation (IBM)
LexisNexis
McKesson Corporation
Northrop Grumman
Optum
OSP Labs
SAS Institute Inc.
Scioinspire CORP.
UNITEDHEALTH Group
Verscend Technologies
WIPRO Limited

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
On the basis of type, the descriptive analytics segment dominated the market in 2021.
On the basis of component, the software segment dominated the market in 2021.
On the basis of application, the insurance claim review segment dominated the market in 2021.
On the basis of end user, the healthcare payer segment dominated the market in 2021.
On the basis of region, North America dominated the market in 2021.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the healthcare fraud detection market analysis from 2021 to 2031 to identify the prevailing Healthcare Fraud Detection Market opportunity.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the healthcare fraud detection market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global healthcare fraud detection market trends, key players, market segments, application areas, and market growth strategies.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞- https://www.alliedmarketresearch.com/press-release/medical-fraud-detection-management-market.html

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.