What is Transaction Monitoring for Healthcare Market Scope?
Transaction monitoring refers to the checking of customer transactions, including assessing customer information and interactions to provide a complete view of customer activity. It consists of transfers, deposits, and withdrawals. Most financial firms use software to automatically analyze this data. Transaction monitoring solutions for healthcare is growing these days owing to the rise in fraud and bed debt by customers and other financial institutions.
The Transaction Monitoring for Healthcare market study is being classified, by Application (AML, FDP, Compliance Management, Customer Identity Management and Others) and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Transaction Monitoring for Healthcare market throughout the predicted period.
Oracle (United States), FICO (United States), BAE Systems (United Kingdom), Fiserv (United States), SAS (United States), Bottomline Technologies (United States), Experian (Ireland), FIS (United States), ACI Worldwide (United States) and ACTICO GmbH (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are EastNets (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Transaction Monitoring for Healthcare market by Type, Application and Region.
On the basis of geography, the market of Transaction Monitoring for Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On February 11, 2016, Bottomline Technologies, a leading provider of financial technology has announced that it’s Healthcare Privacy and Data Security solution has expanded capabilities that enable hospitals to better protect themselves and their patient's data from the growing threat posed by the misuse of valid user credentials.
Influencing Market Trend
- Advanced analytics with embedded AI capabilities optimize the detection, management and prevention of payment integrity issues.
Market Drivers
- Growing account receivables and increasing bad debts among hospitals and health systems and the need to mitigate money laundering and CTF activities are the key factors fuelling the demand for the market.
- Surging Rate of Unpaid Medical Bill of Middle-Class Citizens Owing To Rapid Adoption of High-Deductible Health Plans
- Value-Based Care & Payment Models
Opportunities
- Integration of AI, Machine Learning, and Big Data Analytics
- Digitalization in Payment Transaction Process
- Health Care Reforms and Rising Health Care Costs
Restraints
- Lack of Skilled and Trained Staff
Challenges
- Problem of Managing Cross-Border and Multi-Jurisdictional AML Compliance
Key Target Audience
Transaction Monitoring Service Providers, Software Vendors, Hospitals and Healthcare Centers, Financial Institution, Research Organisation and Others
Customization available in this Study:
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