Software Finds WC, Health Fraud, Overpayments
NU Online News Service, March 1, 12:20 p.m. EST?Jupiter Analytics has announced the release of ClaimsMiner,a software product that uses advanced computer data mining techniques to detect overpayments, fraud, waste and abuse in health care and workers' compensation.[@@]
San Diego-based Jupiter said the product is available for insurance companies, third-party administrators and self-insured entities.
"Since overpayments can now consume up to 10 percent of all health care expenditures, insurance companies have an urgent need to use a wide range of software tools to help contain losses," the company noted.
Data mining, or "Analytic Modeling," is considered to be the key technology for achieving quantum improvements in overpayment and fraud detection, said Jupiter. Using ClaimsMiner, insurance companies can identify the risk for potential overpayment activity before a claim is processed.
A key feature of the product is ease of use, the company noted. Insurance claims analysts and specialists have the ability to directly perform discovery tasks, including data mining, without the need for technical experts as intermediaries.
Jupiter Analytics, founded in 2003, develops analytic modeling software to detect and prevent claims overpayments, fraud, waste and abuse for health care and workers' compensation. The product is available on disk or on an application service provider basis.
Further details are available at www.jupiteranalytics.com.
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