Insurance
❯
Manage claims
❯Detection of fraudulent medical claims
Detection of fraudulent medical claims
For:
TPA, medical insurance companiesGoal:
Anticipate RisksProblem addressed
Upgrade from an only-human-interpretation to ML-assisted fraud detection.
Scope of use case
Build an ML model to classify if a particular claim can be fraudulent.
Description
The third party administrator (TPA) company has a very
good visualization dashboard to eyeball trends by patient, by
doctor and by condition of the medical claims submitted to
the insurance companies the TPA serves. However, the
identification of anomalies from the visual representation
was still done on a subjective judgment basis. The ML model
was developed to identify anomalies in claims that can have
fraudulent activities by the patient, by the doctor or by both
in collusion.
Machine Learning
AI: Understand