MediBuddy, Bengaluru-based digital healthcare platform, has announced the launch of its groundbreaking artificial intelligence (AI)-powered fraud detection system for healthcare reimbursement claims.

This cutting-edge platform harnesses the power of advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics to detect and prevent fraudulent claims in real-time, revolutionising the reimbursement process for healthcare providers, insurers, and patients.

Organisational fraud goes beyond finances, damaging reputation and inviting regulatory scrutiny. One way to stop Fraud, Waste and Abuse (FWA) is by stopping the reimbursement process and enabling cashless solutions.

MediBuddy's approach, which combines a vast cashless network with Sherlock's advanced FWA detection capabilities, has the potential to cut costs by up to 20%. This substantial saving is achieved through a 10% reduction via the cashless network and an additional 10% through Sherlock's FWA detection. By eliminating the reimbursement process, cashless solutions significantly reduce opportunities for fraud.

Sherlock leverages cutting-edge AI and machine learning algorithms to provide real-time analysis and alerts, identifying potential errors or fraud before they occur. The system is highly adaptable, allowing customisation to meet the unique needs of different corporations and insurers. Sherlock automatically detects issues such as claim duplication, document tampering, pricing discrepancies, and compliance lapses, eliminating the need for constant manual review and saving both time and money.