Market growth can be attributed to the large number of fraudulent activities in healthcare; the increasing number of patients seeking health insurance; high returns on investment; and rising pharmacy claim-related frauds. However, the dearth of skilled personnel is likely to restrain the growth of this market.
What are the Opportunities in Healthcare Fraud Analytics Market?
- Adoption of Healthcare Fraud Analytics in Developing Countries
- Emergence of Social Media and Its Impact on the Healthcare Industry
- Role of AI in Healthcare Fraud Detection
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North America will dominate the healthcare fraud analytics market from 2020–2025
Geographically, the global healthcare fraud analytics market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the market in 2019. The high share of the North American market is attributed to the large number of people having health insurance, growing healthcare fraud, favorable government anti-fraud initiatives, the pressure to reduce healthcare costs, technological advancements, and greater product and service availability in this region. Moreover, a majority of leading players in the healthcare fraud detection market have their headquarters in North America.
Some of the companies that offer innovative:
Use of Artificial Intelligence, Machine Learning, and block-chain technology enhances the capabilities of fraud detection and helps tackle common and challenging issues in fraud detection such as incorrect billing, up-coding a procedure and kickbacks and corruption that take place while committing frauds. Some of the companies offering innovative solutions in this space include Fair Issac, SAS Institute, IBM Watson Health, SecureKey Technologies, Nuco, Friss, and H2O.
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Key Questions Addressed in the Report
- Who are the top 10 players operating in the global healthcare fraud analytics market?
- What are the drivers, restraints, opportunities, and challenges in the market?
- What are the industry and technology trends in the market?
- What are the growth trends in the healthcare fraud analytics market at the segmental and overall market levels?