Healthcare Fraud Analytics Market is predicted to grow at a CAGR of 31.88% during the forecasting period
" COVID-19 impact on Healthcare Fraud Analytics market, size, share, growth, industry analysis and forecast 2020-2026 "
There is no need to explain how important health is. In the situation of the pandemic, which has hit everybody very hard, it cannot be emphasized more on the significance of the healthcare sector. Still, the drastic number of fraud cases in the healthcare field all around the world and the insurance industry, which seems to be influencing the opportunity lurking in this area, are the factors that are quite worrisome.
There are hovering concerns regarding the healthcare fraud analytics industry; the most common among them is the dearth of privacy and a severe shortage of data scientists, which seem to affect the market in a negative manner. For sure, the hospital industry is growing, and with it, the expenditure concerning technological advancements has also shot up. Though it is time-consuming and requires frequent upgrading, the developing countries are acquiring healthcare fraud analytics.
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The report titled “Healthcare Fraud Analytics Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2026” provides key insights in this market by tapping major competitors and various innovations to tackle the upcoming challenges in the health domain. One of the major reasons which are responsible for fuelling up the hospital market in the US is an increase in the elderly population. The multispeciality, as well as super-specialty hospitals, has in store a plethora of opportunities for the forecast period of 2020-2026. The market of Healthcare Fraud Analytics is expected to reach $5.87 billion by 2026 from an estimated value of $1.10 billion in 2020, at a CAGR of ~32.18% during the forecast period of 2020-2026.
The major players of the Healthcare Fraud Analytics Market are WhiteHatAI, Healthcare Fraud Shield, FraudLens, Inc, HMS, FraudScope, Inc, IBM, Optum, Cotiviti Holdings, Inc, Fair Isaac Corporation, SAS Institute, Change Healthcare, EXL Service Holdings, Inc, Wipro, Conduent, Inc, CL Technologies, CGI Group, DXC Technology Company, and Northrop Grumman Corporation
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The segmentation of the Market is enumerated below:
By Delivery model
- Insurance Claims Review
- Pharmacy Billing Misuse
- Payment Integrity
- Other applications
By Solution Type
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Public & Government Agencies
- Private Insurance Payers
- Third-party service providers
- North America