AI in the Healthcare Audits Market Size is predicted to show a 9.8% CAGR during the forecast period for 2023-2031.
AI is transforming healthcare audits by automating claims analysis, coding compliance checks, and fraud detection. It improves accuracy, reduces errors, and helps healthcare organizations maintain compliance with regulations like HIPAA. AI also enhances revenue cycle management and identifies potential audit risks using predictive analytics, streamlining the auditing process and ultimately improving patient care and financial outcomes.
By conducting a clinical audit, healthcare professionals and patients can determine whether or not their services are up to par with industry standards. The advent of new digital tools drives market expansion, and the increasing need for better healthcare services brought on by the gap between patients and healthcare personnel is expected to fuel the growth of artificial intelligence (AI) in the healthcare industry in the coming years.
The development of AI in Healthcare has been bolstered by the expanding size and complexity of healthcare datasets, as well as by the increasing emphasis on controlling healthcare expenditures. Medical practitioners will benefit more from data-driven care planning and decision-making when AI is included in healthcare operations. The advancement of healthcare technology has led to an anticipated uptick in the use of AI in healthcare audits.
However, companies need employees with certain skill sets to design, manage, and implement AI systems due to the complexity of these endeavours, which is hindering AI in healthcare audits market growth. In addition, the COVID-19 pandemic has had a major effect on the market for providers of artificial intelligence in AI in healthcare audits. Several factors have contributed to this effect. Artificial intelligence (AI) proved its worth during the recent COVID-19 pandemic by helping medical Professionals better respond to emergencies and get a deeper understanding of difficult diseases.
Competitive Landscape
Some Major Key Players In The AI in the Healthcare Audits Market:
- Surescripts
- Trium Info
- Aperio AI
- Protenus, Inc.
- Medicodio
- Experian Health
- Apixio
- Inovaare
- Codoxo
- Semantic Health
- RevKeep
- Others
Market Segmentation:
The AI in healthcare audits market is segmented based on the audit type. Based on the audit type, the market is segmented into pre-billing audits, recovery audits, Medicare, and external audits.
Based On The Audit Type, The Pre-Billing Audits AI In Healthcare Audits Segment Is Accounted As A Major Contributor To The AI In Healthcare Audits Market.
The pre-billing audits AI in the healthcare audits category is expected to record a major global market share in 2022 because pre-bill audits help find potential sources of reimbursement from the past and the future. Because of this, hospitals can save both time and money. Pre-bill is a method of risk mitigation that is implemented ahead of the usual auditing procedures. This will guarantee honest accounting all around and precise reimbursements. It's also a cost-saver.
The Recovery Audits Segment Witnessed Growth At A Rapid Rate
The recovery audits segment is projected to grow rapidly in the global AI healthcare audits market. Performing a recovery audit might have a significant financial impact. Recovery audits' primary value is that they boost cash flow and pure profits by identifying sources of revenue loss, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American AI In Healthcare Audits Market Holds A Significant Revenue Share.
The North American AI in healthcare audits market activity is anticipated to record the largest market share in revenue in the near future. It can be attributed to the expansion of financial resources, and a number of new competitors are entering the AI Healthcare sector in the region thanks to the rise in venture capital funding. Governments, institutions, and investors are increasing funding for projects that attempt to integrate artificial intelligence into the practice of healthcare audit in medicine in response to the rising need for cutting-edge healthcare auditing solutions.
In addition, Asia Pacific is estimated to grow rapidly in the global AI in healthcare audits market because of increasing healthcare facilities, rising fraud activities and the ongoing development of cutting-edge AI technology. The need for AI in healthcare audits is anticipated to grow as a result of this region.
AI in the Healthcare Audits Market Report Scope
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 9.8% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Audit Type |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Semantic Health, Revkeep, Apixio |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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