Know Your Patient – Making the Healthcare Platforms Fraud-Free

Know Your Patient – Making the Healthcare Platforms Fraud-Free

Similar to gravity, risk cannot be ignored or rejected. Nowadays, every industry is exposed to a high level of risk due to the rise of fraudsters. If a ranking is established, the financial sector and the healthcare sector would come in first and second, respectively. Without a single doubt, the healthcare sector can be far lower on that ranking if patients are identified via automated KYC technologies. Certainly, if healthcare companies and IDV providers continue to do their fair share, the industry won’t be on that chart.Digital patient identification is a standard procedure nowadays, as it rightfully ought to be. The KYP (Know Your Patient) verification’s robustness avoids any kind of phishing or scams. 

Role of Dark Web

Detecting patients and keeping up with regulations are both difficult tasks, and the black market is unquestionably the biggest contributor to both. Through it, fraudsters have amassed and helped millions of people trick healthcare professionals and other businesses. Following the recovery of sensitive information from a database, such as medical IDs or other documents, it is posted online for sale to the highest bidder. These unlawful behaviors can be stopped by using computerized know your patient systems to identify patients.

Almost anything is available for purchase, including Paypal credentials, medical data, passports, and Covid vaccination passes. There are a significant number of purchasers and suppliers. Each hospital, drugstore, and healthcare institution is destined to use AI-based algorithms to test patients. Healthcare providers should use IDV solutions and worldwide databases to verify patient identity to make client onboarding more fair and efficient, as the incidence of ID thefts is constantly rising. Online patient identity verification solutions are practical as well as cost-effective in this digital era. 

KYP Verification – An Absolute Necessity

In the past few years, technology improvements have shown how they can negatively affect a variety of enterprises, internet platforms, and financial institutions. Fraudsters’ and ID thieves’ operating procedures have undergone significant changes. Since the emergence of the black market, not only medical professionals but every conceivable industry became the initial target of a scam. The regulatory agencies then finish the job by imposing serious punishments for refusing to adhere to the compliance rules. AI-assisted patient identification ensures that know your patient compliance rules are fulfilled flawlessly and that any unauthorized efforts at patient identification are stopped.

Numerous innocent people in the medical sector can be protected from defamation and interrogation using ID verification for pharmacies. This will benefit the specific organization as well as a great number of other people. There are so many instances where a fraudster manipulates an unsuspecting person to carry out their financial crimes. On sites used for freelancing, this is becoming incredibly popular. Money launderers frequently use multiple websites to employ freelancers, assign them a specific assignment, and instruct them to move a fixed amount into a specific bank account to keep the coverage. In order to ensure that something similar doesn’t occur, patients must be identified.

They transfer the money once the job is done, and the freelancers will be questioned if an inquiry is ever launched. Similar to that, con artists construct phony identities and masks of chosen targets for their own advantage and to keep themselves hidden. The offender is left to experience the consequences and punishment alone. Thus, AI-powered technologies are used for identifying patients.

How Patients are Verified?

Facial Recognition

The KYP solution uses thousands of AI models as well as facial dynamics authentication for quick patient verification. Within only a few seconds, the dubious business can be identified using image distortion analysis, micro-expression analysis, and depth analysis.

In biometric identification, it becomes easy to detect any facial masks or deep fakes. Patient identification is completely frictionless when using an automated system with robust artificial intelligence algorithms.

Document Authentication

Digital solutions quickly and thoroughly verify the provided ID certificate in order to determine patients. The computerized solution includes a model for self-learning. Smart learning algorithms can distinguish between various types of documents. The method detects data fields of many types of certifications in multiple languages due to the widespread coverage of many forms.

Since the AI-powered solutions self-learn after each verification check, there is no opportunity for error when recognizing patients. The health records data is transformed into a computer format for verification; the entire procedure is error-free and unquestionably time-effective.

Final Thoughts

Every medical and healthcare sector is bound to identify patient through digital technology. Even if medical identity theft instances are on the rise, things can be brought under control by using automated know your patient verification. The brilliant move by healthcare institutions to identify patients using AI-driven systems is to stop fraud right away.

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