Preventing fraud and reducing waste
A final more operational area health service providers should be quick to embrace the benefits of voice capture and AI technology in is the effort to prevent fraud.
Beyond just the UK, the global healthcare industry is particularly susceptible to fraud and associated losses that come with such activity.
The US’s system is particularly inefficient, burning through 3 per cent of all health care costs on fraud according to sone conversative estimates – that’s $68 billion annually in the best-case scenario – with the majority as a result of poor administrative processes.
Use of voice capture and AI powered analytics can help reduce fraud via the automation of burdensome, ineffective processes.
Currently as much as 80 per cent of global healthcare uses unstructured data which presents a huge opportunity for compliance, fraud and risk detection empowered by automaton.
The combined power of voice and speech analytics’ mean calls made to healthcare service providers are automatically exposed to analysis which flag risk factors to help prioritise reviews.
This replaces call sampling and manual review processes which are expensive and expose organisations to more risk.
Reduction in fraud frees up funding which can allocated elsewhere, and this in turn means more resources available that can be used to improve quality of care.
Investment in AI writ large should be a key avenue considered by both public and private healthcare providers to meet this end goal.