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Text Analytics in Healthcare Records & Claims – FWA a case in point

Text Analytics in Healthcare Records & Claims – FWA a case in point

Out of the $2 trillion, the United States of America spends on healthcare every year; billions of taxpayer’s dollars are misappropriated as improper payments made to individuals, organizations and contractors. Often amounts are incorrectly credited, sometimes to the wrong person or for the wrong reason. The National Health Care Anti-Fraud Association estimates conservatively that at least 3 percent or more than $60 billion is lost to fraud, waste, and abuse each year. These are staggering sums of money and the task of controlling and reducing these losses warrants serious attention. This whitepaper helps us to understand the term FWA (Fraud, Waste & Abuse) in detail. Fraud is the intentional deception or misrepresentation that an individual or an entity makes knowing that it could result in some unauthorized benefit to the individual, the entity or to some other third party

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