Big data solutions can help agencies root out waste in programs such as Medicare, Medicaid, and Unemployment Insurance.
Herndon, VA (PRWEB) March 06, 2013
Deltek, Inc., the leading global provider of enterprise software and information solutions for government contractors and professional services firms, has released a new report that analyzes the role of information technology (IT) in identifying Waste, Fraud and Abuse (WFA) in federal spending. The Technology Strategies for Federal Waste, Fraud and Abuse report analyzes the government’s progress in cutting WFA, maps out its ongoing needs, and explains how IT contractors can meet those needs.
Cutting federal waste is a priority for the Obama administration. Improper payments have declined 6% in FY 2012, down to $108 billion. However, Deltek’s Technology Strategies for Federal Waste, Fraud and Abuse report reveals that the struggling economy and the sheer volume of dollars flowing to federal benefits programs continue to contribute to WFA. As a result, agencies will continue to look to technology to reduce WFA in their operations.
Federal interest in analytics and big data solutions in particular will increase over the next five years, according to the report. “Big data solutions can provide intelligence from unstructured data, speed for analyzing massive amounts of data, and a method for accessing and matching data currently stored in siloed systems. In the WFA scenario, big data solutions can help agencies root out waste in programs such as Medicare, Medicaid, and Unemployment Insurance,” says Deltek analyst Angie Petty.
Technologies such as pre-screening and identity authentication, data capture and processing, examination and detection, and investigation, prosecution and recovery will also be in high demand, helping agencies root out waste. “Expect agencies to continue to implement technology solutions that will predict potential fraud, determine eligibility, examine claims and benefits prior to releasing payments, and accelerate recovery of moneys improperly paid,” Petty says.
The 50-page Technology Strategies for Federal Waste, Fraud and Abuse report provides a list of Pre-RFP opportunities from a range of agencies – including the Department of Defense, Department of Homeland Security, and Department of Health and Human Services – that relate directly to the government’s efforts to reduce WFA spending.
The report also provides broader advice for contractors around their product positioning if they want to capture opportunities related to WFA. For example, because agencies are operating under tight budgets and are looking to gain efficiencies, the report suggests that vendors offer WFA solutions that can be used in a Shared Service Center or a Shared Service model. The report also suggests that vendors “Explore porting solutions across vertical markets, such as health care, social services, tax systems, etc., as well as horizontally to other levels of government to expand the pool of opportunities.”
Click here to download a free report summary of Technology Strategies for Federal Waste, Fraud and Abuse. Press interviews can be arranged through Lauran Cacciatori.
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