Healthcare Payer Fraud and Waste Reduction
Case Study on Healthcare Payer Fraud and Waste Reduction
presented by Michael Xiao and Kristin Meier of BCBS
Estimates of fraud, waste, and abuse in the US healthcare system range from 15-40% of the $3.5 trillion in annual healthcare spend1. This is painful for insurers and consumers as the burden for healthcare costs increase.
We plan to discuss the new world of AI insurance operations and explore various anomaly detection methods using machine learning. We will illustrate ways of defining and framing problems so insights are actionable for business partners. These methods save insurance firm billions of dollars annually by streamlining operations and reducing costs.
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