The “Healthcare Fraud Analytics Market to 2027 – Global Analysis and Forecasts by Solution; Mode of Delivery; Application; End User and Geography.” report has been added to ResearchAndMarkets.com’s offering.
The healthcare fraud analytics market was valued at US$ 1,331.09 million in 2019, and it is expected to grow at a CAGR of 27.0% from 2020 to 2027, to reach US$ 8,707.73 million by 2027.
The rising number of healthcare fraudulent cases across the globe and growing health insurance industry are the major factors driving the healthcare fraud analytics market growth. However, concerns regarding healthcare fraud analytics such as lack of privacy and shortage of data scientists have a negative impact on the growth of the market.
The hospital industry in is growing with rising healthcare expenditure and technologically advanced healthcare infrastructure. Despite the slight reduction in an average hospital stay per person from 7 days to 5-6 days over the last couple of decades, there has been a rise in the total number of hospital admissions to 36.5 million in 2017. An increase in elderly population is a major reason fueling the hospital market in the US. Further, as per the American Hospital Association (AHA) annual survey of hospitals in the US, there are ~6,146 hospitals in the US. The super-specialty and multispecialty hospitals hold several opportunities for the market growth during the forecast period. Additionally, micro-hospitals are gaining popularity as they offer personalized care 24/7, with the less than 5 minutes of waiting time. Thus, owing to such advancements, the hospital industry in the US is growing continuously, and it is likely to hold several opportunities for the healthcare fraud analytics market players for future growth.
The healthcare fraud analytics has been segmented by solution, mode of delivery, application, and end user. The healthcare fraud analytics market, by solution, has been segmented into predictive analytics, descriptive analytics, and prescriptive analytics. The predictive analytics segment held the largest share of the market in 2019, and it is further anticipated to register the highest CAGR in the market during the forecast period. Based on the mode of delivery, the market has been segmented into on-premises delivery models and on-demand delivery models. The on-premises delivery models held the largest share of the market in 2019. However, the on-demand delivery models segment is estimated to register the highest CAGR in the market during the forecast period.
A few of the essential secondary sources referred to for preparing the report are Food and Drug Administration, World Health Organization (WHO), American Hospital Association, Medical Identity Theft Alliance, National Health Care Anti-Fraud Association, and European Healthcare Fraud and Corruption Network.
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