Global Medical Payment Fraud Detection Market Size study, by Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), by Delivery Model (On-premises, Cloud-based), by Component (Software, Services), by Source of Services (In-house, Outsourced), by End-User (Private Insurance Payers, Public/Government Agencies, Third-Party Service Providers) and Regional Forecasts 2020-2027 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Medical Payment Fraud Detection market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Medical Payment Fraud Detection market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Data Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Global Medical Payment Fraud Detection Market is valued approximately at USD 1.0 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 25.3% over the forecast period 2020-2027. The healthcare industry is highly regulated, and the cost is monitored closely. Also, the healthcare fraud is the critical issue for the government and there is great need for more effective detection method, which lessen the number of risks and errors in the sector. More often, the emergence of frauds is more frequent in payment of medical bills and other payable cost. Therefore, medical payment fraud detection solutions are used to prevent the healthcare fraud, waste, and abuse. These solutions are completely a falsification or deliberate duplicity of facts by healthcare professionals or patients that can led to unauthorized benefits to hackers. Therefore, the rising pressure of fraud in the healthcare sector, increasing number of patients opting for health insurance, and abuse on healthcare spending are the few factors responsible for the high CAGR of the market during the forecast period. As per the survey of the National Health Care Anti-Fraud Association, there is a surge of 25% increment in healthcare frauds & errors were recorded in 2015, as compared to 6.9% total since 2008, and is reached to almost nearly 52% in 2018. Similarly, as per the Federal Bureau of Investigation estimated that 3% to 10% of healthcare billings are illegal in the United States, with the annual expenditure on healthcare each year. As the incidences of healthcare frauds increases, financial burden also increases on healthcare companies thus, the healthcare groups are opting for medical fraud detection system. This, turn, is expected to impel the growth prospect of medical payment fraud detection market around the world. However, the dearth of skilled professionals and unwillingness to implement these fraud analytic solutions in developing countries are the few factors limiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Medical Payment Fraud Detection market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the intensified penetration of fraud detection solution on the back of growing frauds cases, and the presence of large number of market vendors in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising government support and initiatives to reduce the rate of healthcare frauds, followed by the improving healthcare infrastructure in developing countries, such as China and India, would create lucrative growth opportunities for the market growth in the Asia-Pacific region.
Major market player included in this report are:
- LexisNexis Risk Solutions
- International Business Machines Corporation
- OSP Labs
- DXC Technology Company
- Unitedhealth Group
- SAS Institute
- Fair Isaac Corporation
- EXL Service Holdings, Inc.
- CGI Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
By Delivery Model:
By Source of Services:
- Private Insurance Payers
- Public/Government Agencies
- Third-Party Service Providers
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
Market Behavior/ Level of Risk and Opportunity
End Industry Behavior/ Opportunity Assessment
Expected Industry Recovery Timeline
Business Impact Horizon
Opening of Economy by Q3 2020
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021
A systematic step framework for How to Tackle The Situation… “MITIGATE” | “SUSTAIN” | “GROW”: Business Strategy Recovery, Scenario and Planning
Economic Consequences of the COVID-19 Outbreak on Market: The Study Explore COVID 19 Outbreak Impact Analysis & Conclusion by Economic Impact & Risk Factors
- What should be entry strategies, countermeasures to economic impact, and marketing channels?
- What are market dynamics?
- What are challenges and opportunities?
- What is economic impact on market?
- What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:
The research includes the key strategic activities such as R&D plans, M&A completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale.
Key Market Features in COVID-19 Outbreak:
The report highlights market features, including revenue, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, supply & demand, cost bench-marking, market share, CAGR, and gross margin.
Market Highlights & Approach
The report provides the rigorously studied and evaluated data of the top industry players and their scope in the market by means of several analytical tools. The analytical tools such as Porters five forces analysis, feasibility study, SWOT analysis, and ROI analysis have been practiced reviewing the growth of the key players operating in the market.
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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
– Detailed Overview of market helps deliver clients and businesses making strategies.
– Influential factors that are thriving demand and constraints in the market.
– What is the market concentration? Is it fragmented or highly concentrated?
– What trends, challenges and barriers will impact the development and sizing of market?
– SWOT Analysis of each key players mentioned along with its company profile with the help of Porter’s five forces tool mechanism to compliment the same.
– What growth momentum or acceleration market carries during the forecast period?
– Which region is going to tap highest market share in future?
– What Application/end-user category or Product Type may see incremental growth prospects?
– What would be the market share of key countries like United States, France, UK, Germany, Italy, Canada, Australia, Japan, China or Brazil etc.?
– What focused approach and constraints are holding the market tight?
– What impact of COVID-19 lockdown on consumers’ awareness, behavior, and attitudes?
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Key Points Covered in Medical Payment Fraud Detection Market Report:
Table of Contents
List of Figures
List of Tables
Segmentation By Geography
Medical Payment Fraud Detection Market Characteristics
Supply Chain And Key Participants
Medical Payment Fraud Detection Market Size And Growth
Historic Market Growth, Value ($ Billion)
Drivers Of The Market
Restraints On The Market
Forecast Market Growth, Value ($ Billion)
Medical Payment Fraud Detection Global Market PESTEL Analysis by Political, Economic, Social, Technological, Environmental, Legal
Medical Payment Fraud Detection Customer Information
Brand Experience And Customer Support Influence Purchasing Decision
Medical Payment Fraud Detection Market, Regional And Country Analysis
Global Medical Payment Fraud Detection Market, , By Region, Value ($ Billion)
Global Medical Payment Fraud Detection Manufacturing Market, Historic And Forecast, Segmentation
Medical Payment Fraud Detection Market Overview
Global Medical Payment Fraud Detection Market Top Opportunities By Segment
Global Medical Payment Fraud Detection Market Top Opportunities By Country
Global Medical Payment Fraud Detection Market Strategies
Strategies based on market trends
Strategies Adopted By Leading Competitors
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