iPrevent

iPrevent, developed by Brighterion, is an advanced AI solution aimed at preventing fraud, waste, and abuse in various industries. Specifically tailored for healthcare companies, iPrevent integrates with payment integrity providers and Special Investigation Units (SIUs) to uncover complex fraud schemes. This software solution is suitable for businesses of all sizes, from small enterprises to large corporations, and is utilized by a wide range of professions and industries, including financial institutions, merchants, healthcare providers, insurance companies, government agencies, and fraud investigation units.

Key Features

Transaction Fraud Monitoring: According to the vendor, iPrevent offers a market-ready solution to reduce transaction-level fraud and merchant risk. With fast and easy deployment, businesses can potentially experience a return on investment from day one. The system is enriched with Mastercard's global network intelligence and requires minimal customer data elements for initialization.

Merchant Monitoring: iPrevent allows businesses to assess the risk of ongoing and newly onboarded merchants. It provides options for risk score delivery, including a zero integration option and a full integration option with a cloud-based API for complete control over workflow and thresholds. By monitoring Mastercard transaction patterns, iPrevent aims to identify anomalous behaviors.

AML & Compliance: The vendor claims that iPrevent includes a custom AI model for anti-money laundering and compliance monitoring. It utilizes machine learning tools that continuously update to reflect evolving fraud techniques. The system is designed to monitor for money laundering and compliance violations, enabling businesses to comply with regulatory requirements.

Custom AI: According to the vendor, iPrevent offers custom AI solutions tailored to address specific business challenges. Through its AI Express process, businesses can potentially build and deploy production-ready models within 6-8 weeks. The system is designed to be scalable and adaptable to evolving business needs.

Healthcare Fraud, Waste and Abuse: iPrevent is equipped with an AI solution to detect and prevent healthcare fraud, waste, and abuse. It aims to identify erroneous or fraudulent claims before reimbursement, providing personalized decisions in milliseconds. The vendor suggests that iPrevent can potentially reduce operational costs and false positives, optimizing healthcare operations.

Identity Detection: According to the vendor, iPrevent offers identity detection capabilities for the authentication of healthcare providers or patients. This feature aims to verify the identity of individuals involved in healthcare transactions, reducing the risk of fraudulent activities.

Predictive Analytics: iPrevent leverages predictive analytics to make more accurate decisions as healthcare organizations innovate. By analyzing historical data and patterns, the system aims to identify potential fraud, waste, and abuse schemes in real-time, enabling proactive intervention.

Cybersecurity Solutions: iPrevent provides cybersecurity solutions to mitigate data breaches that can have an adverse impact on healthcare companies and patients. These solutions aim to safeguard sensitive healthcare information, ensuring compliance with data protection regulations.

Integration with Payment Integrity Providers and SIUs: iPrevent seamlessly integrates with payment integrity providers and Special Investigation Units (SIUs) to enhance their capabilities in detecting and preventing fraud, waste, and abuse. By combining the expertise of these entities with the AI technology of iPrevent, complex schemes can potentially be uncovered and addressed more effectively.