Healthcare Fraud Analytics Market Forecasts to 2028 – Global Analysis By Component (Services, Software), Solution Type (Descriptive Analytics, Predictive Analytics Prescriptive Analytics) and By Geography
According to Stratistics MRC, the Global Healthcare Fraud Analytics Market is accounted for $1.18 billion in 2020 and is expected to reach $8.40 billion by 2028 growing at a CAGR of 27.8% during the forecast period. Rising number of healthcare fraud instances related with healthcare insurance claims across the world and growing government efforts to limit frauds are driving the market growth. However, high return on investments and increase in pharmacy claim related frauds is hampering the growth of the market.
Healthcare fraud revealing is a set of analytical solutions that help in finding issues such as mistakes in duplication/repetition of claims and claim submission forms. Healthcare fraud revealing of claims is necessary as fraud claims rise load on the healthcare industry and society. The usage of fraud detection solutions permits healthcare firms to check and account for analytical data methodologies. Conventionally cautious account checking was followed that exposed numerous doubtful providers and policyholders but with technological advancements classifying potential fraudulent cases before it occurs boosts the healthcare fraud analytics.
Based on the delivery mode, the on-premise segment is going to have lucrative growth during the forecast period. Services are executed in-house and inside the IT facilities of an association in an on-premises deployment. It is the part of the organization to achieve these solutions and all related operations. These are important for the data canter’s on-going expenses, resource use, and space for corporations that install applications on site.
By geography, North America is going to have high growth during the forecast period. The, rising requirement for reduced healthcare costs, technological developments, growing number of people looking for health insurance , and improved accessibility of products and facilities are aspects accountable for dominance of the province in the global market.
Some of the key players profiled in the Healthcare Fraud Analytics Market include CGI Inc., Conduent Inc., Cotiviti Holdings, Inc., DXC Technology Co, ExlService Holdings, Inc., FraudScope, Inc. ,HCL Technologies Limited, International Business Machines Corporation (IBM), LexisNexis (A Part of Relx Group), Northrop Grumman Corporation, Pondera Solutions, LLC, SAS Institute, Wipro Limited.
Estimated Market Size in 2020:
USD 1.18 billion
Compound Annual Growth Rate (CAGR) from2020 to 2028:
Predicted 2028 Value:
USD 8.40 billion
Tables, Graphs& Figures
Component, Solution Type, Delivery Mode, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors&Market Threats:
Solution Types Covered:
• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics
Delivery Modes Covered:
• On-Demand/ Cloud-Based Delivery Mode
• Insurance Claims Review
• Medical Identity Theft
• Payment Integrity
• Pharmacy Billing Misuse
• Case Management
End Users Covered:
• Private Insurance Payers
• Public & Government Agencies
• Third-Party Service Providers
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Healthcare Fraud Analytics Market is majorly driven by the rising health insurance industry, high returns on investment and growing number of healthcare fraudulent cases across the globe.
The public & government agency segment is growing at a highest CAGR,due to healthcare fraud is evidencing to be a financial danger to public and government agencies globally.
Europe dominated with a significant market share due to the factors such as high acceptance of healthcare fraud detection by the private insurance payers across the region.
Asia Pacific market is growing at a highest CAGR owing to the increasing usage of mobile data for numerous applications such as mobile banking and social media.
Key players in Healthcare Fraud Analytics Market include CGI Inc., Conduent Inc., Cotiviti Holdings, Inc., DXC Technology Co, ExlServiceHoldings, Inc., FraudScope, Inc ,HCL Technologies Limited, International Business Machines Corporation (IBM), LexisNexis (A Part of Relx Group), Northrop Grumman Corporation, Pondera Solutions, LLC, SAS Institute, Wipro Limited.
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