Global Healthcare Fraud Detection Market: Key Highlights
Global Healthcare Fraud Detection Market: Key Market Dynamics
Global Healthcare Fraud Detection Market: Regional Overview
The North America healthcare sector is booming at a sustainable pace on the virtue of increasing prevalence of chronic medical conditions and high geriatric population undergoing medical treatment. Favorable support by the US government through Medicade insurance program to provide insurance coverage to the low income facilities for offering better access to healthcare services is driving the market growth. Ongoing efforts to minimize the online healthcare fraud with increasing healthcare expenditure in the Canada, US and other countries is boosting the market growth. As per the Canadian Life and Health Insurance Association, every year around 2-10% of the total healthcare expenditure in North America is accountable to the healthcare fraud.
Increasing demand to monitor and prevent overall healthcare expenditure waste is driving the market growth in Europe. As per the data shared by the European Healthcare Fraud & Corruption Network, 15% of the total healthcare expenditure is accredited to healthcare related frauds. Increasing efforts to reduce healthcare frauds in the region and promote safety in healthcare related financial and non-financial transaction is further contributing towards the market growth in Europe.
Global Healthcare Fraud Detection Market: Key Players Overview
SAS Institute Inc., a manufacturer of analytics software used across banking, communication, education, healthcare, insurance, retail and other end-user industry. The company offers SAS detection and investigation for healthcare for detection and prevent the healthcare fraud, waste and abuse for reducing the overall loss through optimizing payment security.
Optum Inc. offers pharmacy related services, and financial healthcare services for organizations and individuals. The company uses its proprietary detection technology in order to detect and prevent aberrant billing patterns. The healthcare fraud detection solution offered by the Optum Pre-pay review solution gives a detail insights payment in the medical procedures in order to prevent loss of expenditure through time-tested predictive analytics.
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