The Europe healthcare fraud analytics and detection market is slated to witness growth at a CAGR of 20.93% during the forecast period, 2020-2028. The government initiatives, and the concentrated efforts by organizations and institutions, with regard to tackling healthcare fraud, are the factors driving the market growth.
The Europe healthcare fraud analytics and detection market growth assessment entails market evaluation of Poland, Germany, Belgium, the United Kingdom, Russia, Italy, France, and the rest of Europe. Corruption has evolved into a structural dimension in Italy. This is because of the varied nature of services, majorly financed through public funding in Southern European countries. The country has a national health plan that provides universal coverage for medical and hospital benefits. There are opportunities in terms of healthcare fraud detection as a result of the advancing IT sector. Such factors are estimated to impact the growth of the market. In Germany, the federal government is responsible for implementing national health policies. One such system initiated is the Integrierte Versorgung Gesundes Kinzigtal model, referred to as the GK model. It entails long-term contracts at the population level. The country began to incorporate a new healthcare card system in 2011 to reduce fraud cases in healthcare. In the case of Belgium, the increasing demand for the market under study is attributed to government organizations that are dependent on digital networks and infrastructure, making the region vulnerable to fraudulent attacks. The European Healthcare Fraud and Corruption Network (EHFCN) is a non-profit organization in Belgium. Its members are counter fraud and healthcare organizations present in Europe.
Some of the eminent companies operating in the market include, SAS Institute, Northrop Grumman, United Health Group Incorporated (Optum Inc.), Relx Group Plc, OSP Labs, etc.
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