A Triton Market Research report has determined that the healthcare fraud analytics and detection market in the Middle East and Africa is set to surge at CAGR of 22.45% during the projected period 2019-2028.
The countries scrutinized in the Middle East and Africa market are:
• Saudi Arabia
• United Arab Emirates
• Turkey
• South Africa
• Rest of Middle East & Africa
In Turkey, there are different types of hospitals operating in the country. State-funded hospitals suffer due to over-capacity and insufficient fundings. University hospitals have a high standard of care, with a highly skilled workforce. Healthcare in the country is quite affordable as compared to western standards. Hence, in recent times, there has been a rise in the number of people traveling in order to take advantage of the cost-efficiency, turning the country into a popular medical tourist destination to take advantage of this cost disparity. With the growth in this sector, an increase in the fraudulent activities is expected, thereby pushing the demand for healthcare fraud analytics and detection market. These factors are likely to aid the growth of the studied market in the coming years.
In Saudi Arabia, insurance companies are rejecting approximately 25% of medical claims on the grounds of fraudulent activities from hospitals and other services. Health insurance companies are suffering heavy losses due to identity fraud and other fraudulent practices either by patients or service providers. It is reported that health insurance companies are losing up to $320 million annually to fraudulent claims. This is likely to create greater demand for healthcare fraud analytics and detection market, thereby helping the market growth.
SAS is a company offering its services to various industries, including health insurance, automotive, communications, banking, education, government, financial services, healthcare providers, insurance and life sciences. The company operates in different regions, including the Middle East. It provides products SAS Fraud Management and SAS Detection and Investigation for Healthcare.
Some corporations involved in the healthcare fraud analytics and detection market are EXL, Pondera Solutions, Change Healthcare, Cotiviti Inc, OSP Labs, RELX Group Plc, Intelligent Business Machines Corporation, McKesson Corporation, Northrop Grumman Corporation, DXC Technology Company, Fair Issac Corporation, SAS Institute Inc, UnitedHealth Group (Optum Inc) and CGI Inc.