The global healthcare fraud detection market has been experiencing significant growth due to the increase in fraudulent events in healthcare, the rise in patients opting for health insurance, and the pressure to track fraud and abuse in healthcare spending. This market is expected to witness rapid growth in the coming years, driven by the adoption of technologically advanced products and the effectiveness of artificial intelligence in healthcare services and solutions.
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Data mining practices and techniques are being adopted by leading life sciences companies to combat fraudulent activities, such as examining databases for health insurance data and fraud techniques. However, challenges such as the high cost of healthcare fraud detection software and services, lack of skilled personnel, and limited adoption and awareness in developing countries are expected to hamper the market’s growth.
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