Artificial intelligence (AI) has been making waves in the healthcare industry, and one of its most promising applications is in fraud detection. Medical insurance fraud is a major problem, costing the industry billions of dollars each year. AI-based fraud detection techniques have the potential to significantly reduce this cost by identifying fraudulent claims and preventing them from being paid out.
One of the key advantages of AI-based fraud detection is its ability to analyze large amounts of data quickly and accurately. Traditional fraud detection methods rely on manual review of claims, which can be time-consuming and prone to errors.