Increase in number of patients seeking health insurance and large number of fraudulent activities in healthcare are the major factors that are expected to drive the Healthcare Fraud Analytics Market growth during the forecast period. Moreover, high return on investments and rise in pharmacy claim related frauds also propel the growth of market. However, concerns associated with healthcare fraud analytics such as lack of privacy is a restraint, which is expected to hinder the market growth. Contrarily, adoption of healthcare fraud analytics in developing countries, emergence of social media and its impact on the healthcare industry, and role of AI in healthcare fraud detection act as opportunities for the healthcare fraud analytics market.
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The global healthcare fraud detection market is expected to expand over the next decade. Dominating trends that are leading the market growth include rise in adoption of analytics in healthcare business processing outsourcing (BPO), implementation of fraud risk management solutions, and emergence of social media. This has positively impacted the growth of applications based on machine learning for fraud detection developing among healthcare industry.
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Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The key players profiled in the global healthcare fraud detection market analysis are Conduent Inc., CGI Group Inc., Fair Isaac Corporation, HCL Technologies Ltd., IBM Corporatio, Mckesson Corporation, SAS Institute, Inc., SCIO Insprise, Corp., Wipro Limited.
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COVID-19 Scenario Analysis:
- The cancellation of pre-birth checkups or their transfer to a telemedicine approach was part of a significantly larger effect on primary care during the outbreak of COVID-19.
- The effect of COVID-19 upon digital solutions over delivery of healthcare has been and continues to be very substantial and it is speeds up as fast as COVID-19 is moving across the globe.
- Some countries like South Korea have developed the use of smartphone technology to assist in better managing contacts with quite exceptional results.
- During the crisis, there is a surge in demand for medicines, medical devices, and other essential products such as PPE kits, gloves, and sanitizers.
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