UnivDatos Market Insights says Healthcare Fraud Detection Market to Reach $69 Billion by 2027
A study on the healthcare fraud detection market, by UniDatos Market Insights, was released. The report, titled Healthcare Fraud Detection Market: Current Analysis and Forecast (2021-2027) shows stunning growth in the market with a compound annual growth rate of 25.3% through 2027.
Due to the rapid growth in healthcare fraud, especially in provider fraud – combined with government initiatives to help reduce the occurrences and costs associated with frauds – the global market for anti-fraud tools will reach all-time highs.
The General Accounting Office said federal spending on major healthcare programs will grow to 8% of GDP by fiscal year 2050. Because of the enormous amounts of money flowing through the healthcare system, fraudsters have begun targeting the industry at never-before seen rates.
The primary targets are private healthcare organizations, insurers and government backed medical insurance programs.
In order to stop the growth of fraud, the industry as a whole must adopt leading-edge artificial intelligence-based technologies that can detect and prevent fraud in real-time.
ToolCASE, a two-decade old US based company out of Denver, CO. has the world’s most advanced AI technologies, aimed at mitigating fraud in the global healthcare system.
Their AI and machine learning systems can not only detect fraud live but have predictive capabilities allowing fraud and compliance teams to pinpoint weaknesses and areas of new potential frauds.
As the market for fraud detection grows, new pop-up anti-fraud companies are likely to join the industry. However, it is advised that healthcare organizations, both public and private, institute solutions provided by well-known and trusted experts in the field. Experts with proven technology, like ToolCASE.
Learn more about ToolCASE HERE
Or read more about the UnivDatos report, HERE