Vancouver, BC -- (SBWire) -- 01/15/2021 --Healthcare Fraud Analytics Market Size – USD 1.02 Billion in 2019, Market Growth – at a CAGR of 27.8%, Market Trends – Rise in government spending in the healthcare industry for fraud prevention.
More and more patients are now seeking health insurance which increases the risks of fraudulent activities. Healthcare fraud analytics deploy advanced algorithms that detect suspicious activities in real-time and therefore prevent occurrences of fraud. The global Healthcare Fraud Analytics Market is forecasted to garner a revenue of USD 6.65 billion by 2027, expanding at a CAGR of 27.8% throughout the estimated timeline, according to a research report by Emergen Research.
Key market participants include Wipro Limited, DXC Technology Co, FraudScope, Inc., SAS Institute, Pondera Solutions, LLC, Conduent Inc., HCL Technologies Limited, ExlService Holdings, Inc., CGI Inc., and International Business Machines Corporation (IBM)
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Market Drivers
The market growth is driven by the rising number of people opting for health insurance, high investment returns, an enormous amount of fraudulent activities in the healthcare sector, and a large number of frauds associated with pharmacy claims. Moreover, the rapid expansion of the health insurance industry is further augmenting the need for advanced healthcare fraud analytics algorithms. Increasing fraudulent activities and the escalating need to recognize fraudulent patterns also drive the demand for healthcare fraud analytics, thereby propelling the industry's growth.
Regional Analysis
North America is anticipated to lead the market growth due to the escalating number of people choosing health insurance, surging occurrences of fraud in medical insurance, and rising government initiatives to curb the fraudulent activities. Furthermore, the augmenting need to minimize healthcare expenditure and related costs, accelerating advancement in technology, and increased attainability of advanced services are adding to the dominance of the region in the global market. Moreover, the presence of leading players of the healthcare sector and the rapid deployment of fraud detection systems further fuel market growth.
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Deployment Outlook (Revenue, USD Billion; 2017–2027)
1. Cloud-based
2. On-premises
Application Outlook (Revenue, USD Billion; 2017–2027)
1. Payment Integrity
2. Insurance Claim
Solution Outlook (Revenue, USD Billion; 2017–2027)
1. Predictive Analytics
2. Descriptive Analytics
3. Prescriptive Analytics
The report relies on advanced primary and secondary research methodologies to assess information. The data for the study is gathered from reliable and trustworthy sources, ensuring the authenticity and accuracy of the research study. We also employ qualitative and quantitative analysis to deliver a comprehensive and all-encompassing research study on the global Healthcare Fraud Analytics market.
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Healthcare Fraud Analytics Market Segmentation & Impact Analysis
4.1. Healthcare Fraud Analytics Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The growing number of people requiring medical insurance
4.2.2.2. The growing number of fraud incidents in health insurance around the world
4.2.2.3. The increasing fraud associated with pharmacy claims
4.2.2.4. The increasing industry of healthcare insurance
4.2.3. Market restraints analysis
4.2.3.1. Inability to implement fraud analytics for healthcare
4.2.3.2. The high price of such fraud prevention tools & facilities for health care
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Healthcare Fraud Analytics Market By Deployment Insights & Trends Revenue (USD Billion)
5.1. Deployment Dynamics & Market Share, 2019 & 2027
5.1.1. Cloud-based
5.1.2. On-premises
Chapter 6. Healthcare Fraud Analytics Market By Application Insights & Trends Revenue (USD Billion)
6.1. Application Dynamics & Market Share, 2019 & 2027
6.1.1. Payment Integrity
6.1.2. Insurance Claim
Continue…
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Healthcare Fraud Analytics Market Outlook, Industry Demand and Supply, Key Prospects, Pricing Strategies, Forecast and Top Manufacturers Analysis Report 2027
Healthcare Fraud Analytics Market Size – USD 1.02 Billion in 2019, Market Growth – at a CAGR of 27.8%, Market Trends – Rise in government spending in the healthcare industry for fraud prevention.